Philippines talent prefer homegrown employers

Updated: Oct 2, 2021

PHILIPPINES: The Bangko Sentral ng Pilipinas has been favoured as the most attractive employer in the Philippines, overtaking Philippine Airlines according to an independent business survey by Universum.

Google Inc remained the most desired employer among engineering talent, according to the annual research.

The survey, used to track career aspirations and preferences of future graduates involved more than 8,000 students from top national universities in the country. It revealed 58% of business talent preferred to work for companies that were founded in the Philippines, which was also reflected in employer rankings with nine out of the 10 top choices being homegrown.

“The banking industry remained the most preferred among business students, evident by the 49% that viewed it as the top choice. This was followed by auditing at 37% and e-commerce at 33%,” the survey report noted.

Students also prioritised employers that offered strong professional training and development, both evident in Bangko Sentral ng Pilipinas and San Miguel Corporation.

Universum managing director for Asia Pacific Mike Parsons said globally, respect for employees have been trending and while it was already an important attribute in the Philippines, it has now become the second-highest priority, after professional training and development.

“Employers who are serious about attracting the very best young talent in the Philippines need to listen to the strong message talent are sending. They also need to ensure that they not only deliver upon this but that they can articulate, both internally and externally, the respectful nature of their culture,” he said.

In terms of salary expectations, graduates expect about US$8,838 (440,843 PHP), representing a 12% increase from 2020.

Parsons said in most regional and global markets, salary expectations had remained stagnant or only with a slight increase due to harder economic times.

“Despite young talent having more optimism, sadly female students expected 5% less salary than their male counterparts. However, among the students surveyed in Hong Kong, India, Singapore, Thailand and Taiwan, the Philippines has the smallest gap between what the different genders expect to be paid,” Parsons said.

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