If you are looking for a job or if you are considering jumping into a better one, there will be more opportunities coming your way this year. Job market in the Philippines is expected to be more active in 2018, based on the annual Job Outlook Report for this year by Jobstreet.com.
The report, which derived data through a survey conducted among registered employers in the online job search portal, used a 7-point scale to gauge the outlook on the local job market (with 7 being the highest and 1 being the lowest). Its employer-respondents rendered an average rating of 5.01, indicating increased outlook optimism compared to their averaged rating during the first year of the Job Outlook Report in 2017. On the other hand, Jobstreet.com PH candidates maintain their optimism (average rating of 4.68).
“While more candidates see themselves to be more participative in the job market this year, companies are also foreseeing robust hiring activity, which means the competition to attract and retain top talent will be more vigorous,” said Jobstreet.com Philippines Country Manager Philip Gioca. “What will make or break employers this year is how attentive and primed they are to address the emerging needs of employees.”
The report shows that up to 95% of employer-respondents are expecting to expand operations, hire more employees, and keep their 2017 hiring rate this year (60% eye operational expansion leading to hiring of more staff, 19% intend to replace or fill essential job positions, and 16% plan to keep their hiring rate stable). Only 3% of the respondents said they will reduce their hiring rate, while 2% are observing total freeze hiring.
Meanwhile, up to 88% of job candidates will be applying for jobs and monitoring new job opportunities this year (45% said they will be actively applying, 43% will be monitoring job vacancies, while 12% do not intend to apply for a job or a new job).
The hiring rate in 2017 within the top three actively hiring industries has increased the volume of job postings by 14%, from the number in 2016. Those industries are call center and IT-enabled service providers, retail, and manufacturing.
Job candidates’ worries
Despite most job candidates’ positive outlook, they have also expressed some pressing concerns regarding their hunt for jobs this year. Majority of them worry that competition among job hunters will be tougher. They also expect diversification of skills required for jobs, which could possibly result to greater challenges when applying for job opportunities.
The 2018 Job Outlook Report also reveals that more employees are actively searching for better jobs this year because they think that their current employers are not providing them with ideal benefits. About 80% of them prioritize health/medical insurance, but only 52% claim to enjoy such privileges. Up to 86% want to have family care leave as part of benefits, but only 13% get to actually be entitled to it.