The Philippines faces loss of IT talent if WFH scrapped
This warning was issued by the Information Technology and Business Process Association of the Philippines (IBPAP).
Jack Madrid, IBPAP president and chief executive officer, said an “overwhelming majority of Filipino workforce and the employers” have expressed a strong preference for a location-independent or hybrid work arrangement.
He expressed concern that many IT-BPM employees may leave their jobs if they are required to do full-time, on-site work.
“The initial reaction would be an increase in industry attrition because (for the) employees that my team and I have spoken to, the majority of them have expressed intent to leave their place of employment if they do not have flexibility in work setup,” Madrid said.
On September 9, Finance Secretary and Fiscal Incentives Review Board (FIRB) chairperson Benjamin E Diokno issued a memorandum announcing the temporary extension of the 30% WFH arrangement for IT-BPM companies until a decision can be finalised.
The FIRB Resolution No. 017-22, which allowed the 70% on-site and 30% WFH arrangement of IT-BPM firms while still availing of fiscal incentives, would have ended on September 12 if not for the extension, according to BusinessWorld.