Headhunting firm Robert Walters said the Philippines continues to be a hub for sourcing of global companies’ labor requirements.
Findings of its survey showed Filipino talents are bullish about job prospects and existing workers can see an increase in salary.
Robert Walters said foreign firms have further ramped up their shared services centers in the Philippines, with many looking to supplement their workforce with talent in the Philippines.
“Possessing an English-speaking population with a knack for customer service, the Philippines has become a hotspot for companies looking to hire. Employers are also keen on Filipino talent with an integrated mindset and skillsets, specifically those who are equipped with strong leadership, technical, and organisational skills,” Robert Walters said in a statement.
Alejandro Perez-Higuero, Robert Walters Philippines director, said this entrenches the country’s position in the global workforce market by the end of 2023.
“With more companies moving their operations into the country, Robert Walters believes the Philippines is likely to become a candidate-driven market this year,” Perez-Higuero said.
Perez-Higuero said the survey reflects that not only are 81 percent of Filipino talent optimistic about new job opportunities available in their sectors, but 56 percent of professionals are also looking to change jobs in 2023.
Salaries meanwhile are expected to climb by 4 percent this year.
“Professionals in the Philippines could expect higher salary increases when moving between jobs, hitting a high of 50 percent pay rise for talent with niche skills,” Robert Walters said.
The recruitment firm said inflation plays a key role in employees’ considerations for salary increases this year, with more than a third (35 percent) they they are likely to seek a new role if their employers fail to increase their salaries above inflation, while 22 percent said they are very likely to switch companies, and another 20 percent are already certain of leaving their employers.
Robert Walters said 44 percent of surveyed companies are concerned about facing retention in 2023 as the salary expectations of professionals rise and an expected shortage of top talent.
“The survey revealed that 78 percent of companies have pro-actively put in place retention measures. Most common-adopted measures include increased wellbeing initiatives (75 percent), hybrid work policies (71 percent) and improved employee benefits (64 percent),” it said.
“On the flip side, employees signal that besides excellent compensations (74 percent), 47 percent of them value flexible work arrangements, followed by an inspiring work culture (42 percent). With the 2023 market driven mostly by prospective employees, companies are encouraged to focus on employer branding as the most effective recruitment strategy,” it added.
