by: Karen Cayamanda
Wednesday, March 16, 2016 |
Aiming to post $25 billion in revenues and fuelled by emerging sectors this year, the country's information technology-business process management (IT-BPM) industry is eyeing more job opportunities to the economy. According to Department of Labor and Employment (DOLE) Secretary Rosalinda Baldoz, with the way things are going for the industry, it is possible to meet its revenue target.
This year, the voice-based sector expects to see 225,000 new jobs, while the healthcare outsourcing sector aims to add 100,000 employees to its workforce.
When it comes to employment, healthcare is considered as the fastest-growing subsector at 30 percent. It currently employs 87,000 and has $3 billion in annual revenues. This growth could also be attributed to the adoption of the International Code for Disease Standards in the US, which created a demand for coders.
Other sectors that drive growth to the IT-BPM industry are finance and accounting, software development, and legal outsourcing.
Last year, the industry had a 1.2 million-strong workforce, with the voice-based sector getting the lion's share or 69 percent of the industry and employing two-thirds of the total number of workers.
Baldoz said the country's young and educated workforce played a significant role in the growth of the industry, adding that the large pool of talent is one of the main reasons foreign investors decide to set up operations in the Philippines.
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