As the government summoned the IT-BPO industry back to repopulate offices, Colliers has raised concerns that the Philippines may turn less competitive in this crucial space versus India and other markets that still encourage work-from-home arrangements.
With more employees returning to their physical offices, they are seen more likely to spend on food, transportation, and other incidental expenses, thereby contributing to the country’s economic recovery.
“Public transportation is still gradually ramping up and employees need ample time to revert to a regular office schedule after two years of remote work,” he said. “Furthermore, occupiers are facing the risk of employee attrition with some individuals developing a strong preference for remote or hybrid work, which may lead them to join other companies that allow such,” Bengzon said.
Ultimately, Colliers believes that policymakers and the IT-BPM industry must work hand in hand to arrive at the optimal work regulations in support of both economic and business growth.“The IT-BPM industry has consistently been an integral contributor to the country’s economic output; it is vital that their operating environment in the Philippines remains competitive and adaptive to the evolving needs of the industry and employees,” he said.
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