A survey conducted by the Business Processing Association of the Philippines (BPAP) and Outsource2Philippines (O2P) reveals that the business process outsourcing (BPO) sector of the country will see significant growth in the next 12 months.
Sixty-five percent of respondents are confident that their business will grow between six and 50 percent, while 15 percent believe their firms will see an even faster growth. Moreover, survey participants are looking forward to more improvements for the industry under the Aquino administration.
BPO companies are optimistic, but lack of qualified workers remains to be a major concern, and this is getting more and more critical as it will greatly affect the growth of the industry. In addition to this, the tight labor market for knowledge workers is another challenge, according to almost 50 percent of the survey respondents.