Go Back, Help Rev Up Philippines

By Rebecca Bustamante, President

Chalre Associates

Filipinos have long held to the belief that working anywhere outside the Philippines was a better career option than working within.

In the past, there were good reason for this. In countries like the US, there were more jobs and the pay was better. Career advancement was said to be more dependent on performance rather than favoritism.

The result had been one of the greatness movements of workers in any nation in world history. Even today, a steady stream of Filipino professionals leave the Philippines for work elsewhere and few return.

Few, that was until recently. A reversal of the long-term trend could be felt and seen. Career-minded professionals have started weighing options of working abroad. More often, they have opted to stay in the Philippines.

Comeback

Likewise, many are considering to return to the home country. A turning point in the Philippine history could be said to be within sight. A major reason for the change has to do with an expanding number and range of employment opportunities in the Philippines.

Income levels are rising and chances of advancement are numerous. People with overseas professional experience tend to benefit most.

Economic Beehive

To understand the change, one has just to look at a couple of key industries. The fastest growing industry from an employment perspective is clearly Business Process Outsourcing (BPO). From almost zero jobs a few years ago, there is now some 300,000 people working in the industry.

The Philippines is said to be the fastest growing BPO destination in the world today.
This growth opportunity has resulted in unrivaled opportunities for management professionals. Hundreds of experienced managers are required monthly for this sector that is growing at 10,000 new employees per month.

Semiconductors and electronics may not promote itself as well as the BPO industry, but it is growing at double-digit rates and providing 60 percent of the country`s export earnings. This is significant, given that a short time ago everyone thought the industry would move to China. Recently, Texas Instruments chose the Philippines for a new billion-dollar plant, the largest single foreign investment in the history of the nation.

Other sectors like mining are attracting interest from the worlds premier organizations. Typical projects of these companies are $1 billion in size and include tremendous benefits since they build roads, hospitals and school, in addition to providing jobs for thousand of people. One Canadian company has plans to build a $3 billion refinery that will be possible the largest in the region.

Given that the entire direct investment for all of the Philippines is just $1.1 billion as of year so ago, this is a tremendous turn around. It all speaks well of the country`s near-term future for employment and business opportunities.

Stability

President Gloria Macapagal-Arroyo has been making steady progress at improving the country. Gone are the regular mass protest and coup attempts. Instead, Filipinos are getting used to a strengthening peso and trade surplus. Even the country's fiscal deficit seems on track to disappear over the next few years.

Leaders or multinational companies in Asia have come to notice these positive changes at a time when other countries are not looking quite as interesting as they did way back. Thailand's recent military coup has been disastrous for foreign investment. Other countries such as Vietnam and Indonesia are said to be over-invested and China has lost some of its shine.

India, the main alternative for BPO services, is rapidly pricing itself out of the market. Given the alternatives, the situations in the Philippines looks downright appealing. But the Philippines has a less than stellar track record in political stability. Nevertheless, the phrase ``sustainable growth`` is being heard about the Philippines for the first time in a long time.

Call for return

Further Philippine industrial growth needs the brains and expertise of experienced professionals. Those who went abroad have left holes in the middle and senior management ranks. The best option is to attract Filipinos with international experienced back to Philippines.

(Rebecca Bustamante returned to the Philippines from Canada seven years ago. She is President of Chalre Associates, a search firm focused on senior management position for multinational companies.)

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Executive Search & Management Consulting:

Chalre Associates provides its Executive Search & Management Consulting services throughout the Asia Pacific region.  We are proactive and well known in our sectors of focus.  Regional Managers use us to help bridge the gap between local environments and the world-class requirements of multinational corporations.