Although Filipino rofessionals in managerial positions expect 20 to 40 percent increase in pay when moving from job to another, other factors like career growth and benefits weigh heavily in making such a switch, results of a survey of recruitment specialist Robert Walters Philippines showed.
Monty Sujanani, Robert Walters Philippines director, described as “war on talent” the search for highly-skilled professionals by companies undergoing digital transformation .
Sujanani said trends also show preference to talent with international experience.
This is evident in Robert Walters’ balikbayan campaign which showed overseas Filipinos have indicated interest to go back home and work even at lower salaries just to be reunited with their families.
“In 2020, we expect businesses across all industries to continue their digital transformations and transition towards becoming data-driven businesses. Organizations will continue to seek tech professionals to support this transition, but we expect there to be strong demand for technologically and digitally savvy professionals across all functions, to help ensure a successful, organization-wide transformation,” Sujanani said.
According to the survey, professionals looking to stay in their current roles can expect salary increments of up to 10 percent.
Although competitive remuneration and benefits remain a top driver of employee satisfaction, 29 percent of those surveyed say they will change jobs for career progression.
The most demanding of the industries is in tech and transformation such as IT security professionals, data analysts and DevOps engineers. Candidates exploring new roles expect as much as 60 percent increase in their salary.
In accounting and finance, the top areas seeing demand are finance business partnering, transformation in shared services and tax.
At present, 98 percent of accounting and finance professionals are optimistic about job opportunities in the sector, with 24 percent of professionals staying in a role expecting up to 6 percent annual salary increment.
In banking and financial services, corporate banking and wealth management, data privacy, and risk and compliance are the areas seeing strong demand. The top reasons employees move jobs are better compensation and benefits, and career progression, at 28 percent and 24 percent, respectively.
In human resources, shared services and BPO, start-ups, pharmaceutical and consumer goods are the areas with strong demand. Candidates expect a salary increase of 20 percent to 25 percent in their new jobs.
In sales and marketing, the top sectors seeing demand are fintech and e-commerce, FMCG and retail, and construction, with competitive salary and benefits, good working environment, and good work-life balance as top drivers of job satisfaction. Candidates who decide to move jobs are expecting a 20 percent to 30 percent salary increment.
In supply chain, procurement and logistics, logistics managers, purchasing managers, supply chain managers and demand planning managers are in demand. Candidates moving jobs are expecting a 20 percent to 25 percent salary increase on average.