Nearly 7 of 10 companies are optimistic about the job market in the first half of the year with 50 percent of large firms saying hiring has returned to pre-pandemic levels.
JobStreet by SEEK, in its 2022-2023 Outlook – Hiring, Compensation, and Benefits Report, said the pandemic’s impact, which includes the emergence of remote working technology, also affects the type of jobs being hired.
The survey showed the job function most impacted by remote working technology and flexible working culture were jobs related to customer service, with most roles being hired on a part-time basis as the pandemic subsided.
The repot said full-time roles information technology (IT) remain the most in demand, followed by accounting, admin and HR, sales / business development and engineering.
In the Philippines, most companies surveyed had hired employees full time, and only one in four companies laid off at least one employee for the past six months.
Based on the job functions, information technology, transportation and logistics, accounting, admin and HR, and customer service are recovering in terms of hiring as they were previously job functions that faced layoff.
The report surveyed 438 from large, medium, to small companies in Philippines, with the majority of companies surveyed being large or those with 160 employees and more.
JobStreet also found small companies were more likely to increase their permanent full-time staff in the next three months including roles in sales/business development, admin and HR, and IT.
Large companies are looking to increase their workforce by maintaining or improving the number of part-time staff or hours worked, signalling that most small companies are expecting an uptick in sales and demand.
Only 5 percent are planning to reduce their dependence on part-time staff. These part-time employees work in various job functions, with admin and HR, IT and sales / business development as the top three.
Organizations surveyed believe aside from salary, compensation, benefits and special leave are critical in attracting talent. Seven out of 10 companies provided performance, guaranteed, or contractual bonuses, with large companies being more likely to provide at least one type of bonus.
Besides bonuses and salary increases, staff promotion remains at the top of ways to attract employees. Birthday leave, currently only provided to 41 percent of Filipino employees, is expected to grow by 14 percent.
Companies surveyed also indicated that accommodation benefits, with housing allowances and loans, are expected to grow by 8percent in the next 12 months.
“As we return to pre-pandemic conditions, the competition for talent will also increase given current global conditions. Companies need to be able to strategize on their talent attraction and retention to remain at the top of employees’ minds. This includes providing compensation, benefits, and other programs that can enrich the working experience,” said Philip Gioca, country manager of JobStreet Philippines. – Irma Isip
