The Philippine IT-business process management (IT-BPM) industry is experiencing stable attrition rates despite challenges, according to an industry group.
“Attrition is a moving number, affected by seasonality and the diverse sectors within our industry. Contact centers typically have higher attrition around 40 percent, while global in-house centers (GICs) have lower rates, around 10 to 15 percent,” said IT Business Process Association of the Philippines (ITBPAP) president Jack Madrid.
He said some companies even reported single-digit attrition, but overall, “the industry has not observed significant changes compared to the previous year.”
“We’ve already exceeded our baseline targets for job creation,” Madrid said, adding that they expect to meet the 2025 target of 1.82 million jobs by end-2024.
He also anticipates a surge in hiring in the fourth quarter of 2024, particularly in the contact center sector, ahead of the holiday season in the US.
Investor interest in the Philippine IT-BPM sector remains strong, with North America leading the way, followed by growing interest from the Asia Pacific, Australia and the UK.
“Our office frequently receives expressions of interest from potential buyers,” said ITBPM chief operating officer Celeste Ilagan, highlighting the continued optimism in the market.
The ITBPAP is actively promoting the Philippines as an attractive destination for IT-BPM investment through various initiatives.
An investment mission is scheduled in the upcoming weeks in collaboration with the Department of Trade and Industry.
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