Mr. de Leon and Ms. Ramos both noted that the way forward for consulting companies is through acquiring new expertise, particularly in the field of information and technology. But, as in any industry, skilled workers are in short supply. “The early trailblazers will pretty much have to learn this through trial and error. And once there’s critical mass, that’s when the formal studies begin to happen,” Mr. de Leon said, noting the difficulty of adapting to rapidly changing technologies. He said that another complication consulting companies will have to face is the ongoing competition with foreign countries like Australia, New Zealand and Singapore regarding attracting skilled workers. The Philippines, he pointed out, continues to lose the information technology experts it needs to higher-paying jobs being offered abroad. Significant efforts need to be undertaken in equipping the younger generation with better, higher-value skills to ensure that they can contribute to whichever industries they enter when they become part of the work force. This is not to mention the existing challenges prevalent in the industry before disruption. Butch Gregorio, the senior managing director of FTI Consulting Philippines, said in an e-mail interview: “The financial advisory landscape is quite competitive, with practitioners ranging from individual local professionals to large foreign consultants.
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