The Philippines business process outsourcing (BPO) industry is eyeing $25 billion revenue by 2016, through a concerted effort for a stronger public-private partnership (PPP) and continuous improvements on the talent supply it is possible to achieve this target.
"This requires growing the talent base, improving the relevance of education, imparting the employability skills, attracting more graduates and schools to the sector, and up-skilling and retaining experienced staff," said Raymond Lacdao, Industry Director of the Business Processing Association of the Philippines (BPAP). He also said that an integrated talent development approach is important to meet the total 2016 requirement. These include facilitating deep academe/industry partnership through more flexible regulatory environment and advocating for structural changes and funding, a concerted action among key players and stakeholders would ensure that the demand for talents will be met, both in terms of quality and quantity.
The main formula to attaining this goal is dependent on the strength drawn from the industry support and the enabling mechanisms from the government. Upgrade our local talents while sustaining the cost competitiveness, regulatory environment, capital readiness and risks acuity was also identified as a key factor for 2016 goal. "Industry players would also encourage greater public and private capital flows to drive-scale and promote entrepreneurship," Lacdao added.
The targeted export revenue increase will definitely contribute to the increment of Philippine's global market share.