While salary remains to be the top driver of attracting the workforce, Filipino talents who prefer working in SMEs, startups, and province-based companies look for jobs that offer flexibility, social involvement, less bureaucracy, job security, among others.
In 2019, JobStreet Philippines, the number one online job portal in the country, reveals salary/compensation, career development, and work-life balance as the top three drivers of attraction among the Filipino workforce based on their recently conducted extensive study, Laws of Attraction , with more than 18,000 respondents. With varying business set-ups in the country, LOA unveils possibilities for enterprises to understand the workforce and effectively modify their approach in hiring talents.
Size doesn’t matter
LOA reveals that Filipinos do not actually consider the size or market position of the company when they apply for a job. In fact, only 1.2% of the respondents said that they consider the company size.
SME hirers can emphasize or work on their management/leadership style to attract target employees and retain top talents. Young professionals mostly look for fun, family culture but respectful management in SMEs. Meanwhile, experienced employees look for a collaborative workplace that has pacesetting leadership, result-driven, and high-performing.
SMEs can also engage in simple CSR initiatives. In addition, a company that stands for a cause creates a sense of pride among employees, keeping them passionate and inspired at work which reduces turnover rate. It’s also important to note that having fun, diverse, and collaborative environment in a small workplace is a crucial factor for SMEs to attract and retain talents.
Security in startup
Although the startup ecosystem in the Philippines is on the rise, attracting and retaining talents in this set-up can be challenging. Based on the LOA research, the respondents who “will definitely not consider” startup jobs are employees who are drawn to the industries of banking (50%), healthcare and medical (48%), and computer information technology-software (47%), engineering (45%), and accounting/audit/tax services (45%).
For startup hirers to be able to persuade the reluctant job hunters especially the ones from the said industries, strategizing the employment process according to factors that these respondents are looking for in a job could be helpful in attracting them.
LOA reveals that aside from the top three key drivers of attraction, employees also look for job security. Offering full-time roles can likely attract employees, as the said respondents are put off by contract roles or project-based assignments.
Opportunities outside NCR
Based on the LOA, candidates from Gen X or Y seem to be the most inclined to accept provincial employment, while baby boomers are the most reluctant, and Gen Z has the largest number of unsure candidates.
Offering competitive salary, career development opportunities, and work-life balance is a no brainer to attract talents from Metro Manila to work in other locations.
Attracting and retaining talents vary and it takes a smart move for hirers pull the right candidates.More than knowing what their best talents want in a job, it’s also important to take it as challenges and devise a strategy to be able to meet the demands of the workforce.
