Better pay remains the key driver for workers in the Philippines to shift jobs but factors like career growth and flexibility are not far behind.
Results of EY 2022 Work Reimagined Survey which covered 50 employers and 300 employees from the Philippines showed 41 percent of Philippine respondents saying they are likely to quit in the next 12 months — driven mostly by a desire for higher total pay, overall wellbeing, better career opportunities, and flexibility.
Findings of the survey showed 49 percent of Philippine employees say a salary increase is their main objective, and 33 percent say they are looking for career growth.
Fifty-three percent of employees surveyed say that pay increases are the key to addressing staff turnover — but only 18 percent of employers agree.
Flexible working arrangements — which were by far the biggest factors leading to employee moves according to last year’s survey — are now less of a driver given that most are already working for companies that offer flexibility in some form.
Only 20 percent are seeking remote-work flexibility from a new job, while 32 percent say that better well-being programs would prompt them to move.
About 20 percent of Philippine employers say they want employees to come back to the office five days a week while an overwhelming 96 percent of Philippine employees want to work remotely at least two days a week
The survey showed 42 percent of employers have succeeded in boosting productivity and culture, through hybrid work and investing in amenities and workplace technology
The Philippine findings form part of the EY’s survey — one of the largest of its kind — which canvassed the views of more than 1,500 business leaders and more than 17,000 employees across 22 countries and 26 industry sectors.
It shows that as many countries emerge from the new coronavirus disease pandemic, employees have gained significant influence over their employers and that their “wish list” from potential employers is changing.
From those surveyed in the Philippines, millennials (69 percent) and Gen X (18 percent) make up most of the employee respondents. Across the sectors, employees are mostly working in manufacturing (13 percent), technology software (11 percent) and telecommunications (11 percent), while 20 percent of employers come from the banking and capital markets industry.
“This latest survey shows that employees around the world are feeling empowered to leave jobs if their expectations are not met. As employers have increasingly provided flexible work approaches, higher pay is now the biggest motivation for changing jobs, particularly given rising inflation and available unfilled roles,” said Liz Fealy, EY Global People Advisory Services deputy leader and Workforce Advisory leader
Czarina Miranda, SGV People Advisory Services — Integrated Mobility Services leader, said
the survey results reflect how much employees are now able to discern what matters most to them, especially when aligning work expectations with their personal preferences.
“As employee retention and recruitment appears to be a pressing concern for most HR teams these days, employers need to revisit the value proposition offered to employees to address their concerns which center around compensation, career growth and well-being.
Employers who are able to succeed in this will hopefully acquire a competitive advantage in keeping its finest talents and in attracting the choicest recruits,” Miranda said.
