Filipino professionals want higher salaries, career progression

The top reasons employees move jobs are better compensation and benefits and career progression, at 28 percent and 24 percent respectively.

The salary outlook across all industries proved to be optimistic as Filipino professionals from various sectors are looking forward to having jobs that are more lucrative and offer career progression

L:test data from the Robert Walters 2020 Salary Survey showed that across industries, technology and transformation stood as the most lucrative with professionals moving expecting an additional 30 to 60 percent increase in salaries.

“On average, candidates moving jobs expect salary increments of 30 to 60 percent,” the survey said.

Information technology security professionals, data analysts and development operations engineers are in demand with competitive remuneration, good working culture, and good work-life balance as main factors of job satisfaction.

In terms of individuals likely to quit their jobs in less than two years, banking and financial services proved to have the most security with only 16 percent professionals eyeing a shift.

“Corporate banking and wealth management, data privacy and risk and compliance are the areas seeing strong demand… 64 percent of those staying in current positions (are) expecting an increase of 7 percent to 15 percent in their annual pay,” the survey said.

“The top reasons employees move jobs are better compensation and benefits and career progression, at 28 percent and 24 percent respectively,” it added.

Moreover, Robert Walters Philippines Monty Sujanani noted on the witnessed transformation on workforce’s needs. According to him, opportunities now took its fair share with salary, the latter of which, was the primary driver before.

“Companies looking to secure these highly skilled professionals will need to understand that salary is often no longer the sole motivator for most professionals. Driven and ambitious professionals will be looking for career progression and learning and development opportunities,” Sujanani explained.

“Flexible benefits and working arrangements are also highly attractive to talent within the country,” he added.

Along with this outlook, the Robert Walters executive said that they expect local businesses will continue to embrace modern technology, lifting the demand for individuals with specialization for such.

“In 2020, we expect businesses across all industries to continue their digital transformations and transition towards becoming data-driven businesses,” Sujanani said.

“Organizations will continue to seek tech professionals to support this transition, but we expect a strong demand for technologically and digitally savvy professionals across all functions, to help ensure a successful, organization-wide transformation,” he added.