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Positive Hiring Outlook for Philippines in 2017, Strengthened by Effective Local PoliciesNEWS February 3, 2017
2017 is shaping up to be a positive year for online recruitment in the Philippines, as the upward trend of online hiring from the second half of 2016 continues into the New Year, according to Monster.com.
According to the monthly Monster Employment Index (MEI) released by Monster.com, the Philippines’ employment landscape enjoyed strong growth in overall hiring activity – most notably in the second half of 2016, where consistent positive annual growth in online hiring activity was recorded. According to the MEI, this paints a positive picture for the months ahead.
Overall, the Philippines got off to a slow start in 2016, when all industries collectively witnessed a -10% year-on-year dip in hiring activities in January. This was then followed by a -12% year-on-year decline in February – the steepest drop in the series.
In April, the country saw its first positive growth at 4% year-on-year, and continued to see consistent positive hiring trend for the rest of the year. While there was a slight annual dip of -2% in September, recruitment activity quickly picked up from October. As of December 2016, the Philippines recorded 3% annual growth in online hiring activity.
“The local Philippine economy has held up relatively well against external storms in 2016 as when compared to its regional counterparts. This is attributed to the country’s sound fundamentals and other strong policies that were put in place, positioning the country as a shining spot for business opportunities and investments, and in turn greatly boosting job opportunities for locals, and the economy on the whole,” said Sanjay Modi, Managing Director of Monster.com (APAC and Middle East).
“In 2017, the country can expect to see a lot more spikes in employment activities, particularly at the start of the year where companies are warming up their engines for the new fiscal year ahead and will see a demand forfresh talent to facilitate operations, especially in the Tourism, Manufacturing and BPO sector. On top of that, the government has planned to create at least 1.2 million new jobs each year until 2022 to fully tap into the local untapped workforce, and will likely contribute to hiring numbers in 2017.”
BFSI sector to retain growth trend in 2017
2016 has been a great year for Philippines’ banking sector, which defied the regional downward hiring trend and recorded 12 consecutive months of positive annual growth. The sector kicked off with 14 percent year-on-year growth in online hiring in January, seeing its steepest growth in May at 28 percent year-on-year.
The year capped off with 20 percent annual growth in December, and saw an overall 15 percent year-on-year average growth for the year.
A positive growth outlook for online hiring in the IT sector in 2017
Online hiring in the IT sector has also been positively stable over the last 12 months for the country. The MEI recorded a 12 percent year-on-year growth in online hiring in January, seeing its sharpest growth in April at 23 percent year-on-year. The year capped off with a 12 percent year-on-year growth in December 2016.
Hiring sentiments in the Marketing sector likely to pick up in Q1
2016 has seen various spikes and dips in the online demand for the Marketing professionals across the country. In January, the sector recorded an-11 percent year-on-year decline in online hiring of these professionals.
February saw the demand fall further at -16 percent year-on-year, before seeing a peak in March at 12 percent year-on-year. The sharpest growth was recorded in July at 33 percent year-on-year. Recruitment activity fluctuated for the rest of the year despite recording mostly positive growth, and the trend will likely repeat in 2017.
Demand for HR professionals may see improvement in Q1 2017
Looking at the demand for HR professionals in Philippines, the first quarter saw sharp drop in overall online hiring activity. February saw the sharpest dip in the sector at -18 percent year-on-year, while June saw the greatest demand at 28 percent year-on-year growth. Hiring activity remained fairly positive for the rest of 2016, recording 4 percent year-on-year growth in December 2016.
The MEI is a gauge of online job posting activities recording the industries and occupations showing the highest and lowest growth in recruitment activity.
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