80% of Companies in Philippines to Maintain or Increase Employment Headcount in 2021: Survey
MANILA, PHILIPPINES – Media OutReach – 10 February 2021 – Professional recruitment services, Michael Page Philippines launched the Talent Trends 2021 Report, with a keen eye on the Filipino job market. Data from the study suggests a growing optimism with 35% of companies in the Philippines looking to increase their headcounts and 45% maintaining status quo in 2021.
Olly Riches, Managing Director of Michael Page Indonesia & Philippines
Olly Riches, Managing Director of Michael Page Indonesia & Philippines, says, “We are seeing positivity increase across the board with regards to recruitment and hiring in the Philippines. While the country’s e-commerce and logistics sectors aren’t as developed as other Asia Pacific markets, the traditional consumer markets have remained robust and are assisting in the economic recovery.”
In view of the economic demands, the sectors earmarked for highest hiring activity are e-commerce, financial services, healthcare & life sciences, technology & telecommunications as well as fast moving consumer goods (FMCG).
According to the report, there is a strong demand for technology professionals at all levels where companies have adjusted to the rapidly evolving business landscape, often bringing in external skills sets to accelerate these changes. Separately, we’re seeing an increase in hiring across e-commerce particularly within fintech, logistics and consumer platforms. “Acquiring and retaining high potential talent will be crucial to enable companies to build sustainable operations to position for future growth,” observes Olly Riches.
According to the report, 76% of employed technology professionals in the Philippines anticipate looking for new opportunities in 2021 while another 20% is open to new ones. When securing a new position, Olly Riches advises professionals, “Companies are looking for technology hires with proven capabilities via third-party assessment, as well as those with solid experience working on different projects.”
As a viable option to bridge skill gaps arising from their move to business recovery in 2021, 56% of companies in the Philippines cited their continued investment in employees by upskilling the workforce with training while 56% turned to the use of automation for basic processes.
Filipino professionals have also been empowered with the wealth of information available to them when considering a new job offer. 1 in 3 of the study’s respondents claimed they did extensive research on the company before applying for a job.