Salary hikes lead key drivers of employee retention: survey

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Though a company’s work schedule, reputation, and values are top traits to consider when it comes to attracting potential talent, salary increases remain the key consideration for staying in one’s organization.

Findings of the Employee Job Happiness Index 2024 survey by Jobstreet by SEEK showed salary increases (39 percent), better working hours/time flexibility (13 percent), getting a promotion (13 percent), and holiday/vacation leaves (12 percent) are the main needle-movers in boosting employee morale within a company.

The online job portal said hirers may consider these benefits as drivers toward employee retention, as keeping morale within an organization helps preserve job satisfaction and in turn, employee retention. 

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The survey said jobseekers ranked work schedule or location, company reputation, and company values as the top traits they are looking for in their search for a new company or organization to work with.

They also considered the work culture, monetary and non-monetary benefits, and job security, among others. 

Filipino job seekers also identified the main platforms they use to learn more about the companies they want to join, namely media (social media, news, printed/online articles) at 38 percent, the company website at 17 percent, and word-of-mouth at 14 percent. 

“Hirers are advised to make their company initiatives more visible on these channels as well as in professional job platforms to attract potential employees,” Jobstreet said.

The survey revealed San Miguel Corp. is the most sought-after private company by Filipino jobseekers, followed by Accenture, and Ayala Corp. 

Other companies such as Google, JP Morgan Chase & Co., SM Development Corp.), Nestle, Globe, P&G, Aboitiz, Amazon, Banco de Oro and Emapta were also included in the list of sought-after private companies by candidates. 

The most sought-after government agency or non-government organization (NGO), is the Asian Development Bank, followed by the Bangko Sentral ng Pilipinas and the Department of Education. 

Included in the list of government agencies and NGOs as well are the Armed Forces of the Philippines, the United Nations, the Department of Health, the Department of Trade and Industry, the Government Service Insurance System, Department of Agriculture, the US Embassy,

Commission on Audit, Philippine Ports Authority, and the Department of Finance, among others.  Irma Isip

The online survey was done between July 26 and August 2, covering 960 respondents of various ages, from different parts of the Philippines.

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