by: Sarah Joson
Friday, March 23, 2012 | Outsourcing News |
World Bank stated in its Philippines Quarterly Update that new graduates can expect more employment opportunities this year, as infrastructure spending increased and the business process outsourcing (BPO) sector continues to grow even though it is facing talent supply issues. In fact, the BPO industry is expected to provide 100,000 jobs this year.
Majority of the 700,000 Filipinos in the BPO workforce are employed in contact centers. Meanwhile, finance and accounting is seen as a growing segment for Filipino workers.
The BPO industry is stalled by economic problems globally which may affect those who are employed in the electronics sector.
Fewer overseas contracts are also anticipated by World Bank. However, structural reforms are said to be manageable solutions to beef up the volume of skilled candidates, and hopefully resolve advancement issues.
Rogier J. E. van den Brink, Lead Economist at World Bank, said the Philippines has the rudimentary elements against the worsening condition of economies worldwide. Also, the country has the potential to be a prime destination for other services.
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