The growth in jobs during the pandemic has fallen below the global trend, with only one in 10 outsourcing job applicants getting hired. This talent shortage, coupled with the rapid evolution of artificial intelligence, poses significant threats to the Philippines' call center industry.
Key takeaways:
- The Philippines is struggling to maintain its share in the nearly $300 billion global business process outsourcing market due to deteriorating talent, increasing competition, and the rapid evolution of artificial intelligence.
- The country, being the world's second-largest provider of outsourcing services, is producing a low ratio of graduates with the necessary communication and technical skills.
- This lack of skilled graduates could potentially cause the Philippines to miss out on the opportunity to add 800,000 jobs in the next five years.
- The information is according to the industry group IT & Business Process Association of the Philippines.