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.
The MEI is a gauge of online job posting activities recording the industries and occupations showing the highest and lowest growth in recruitment activity.
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 when compared its regional counterparts,” said Sanjay Modi, Managing Director of Monster.com (APAC and Middle East).
“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.”
“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 for fresh 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% year-on-year growth in online hiring in January, seeing its steepest growth in May at 28% year-on-year. The year capped off with 20% annual growth in December, and saw an overall 15% 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% year-on-year growth in online hiring in January, seeing its sharpest growth in April at 23% year-on-year.
The year capped off with a 12% 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% year-on-year decline in online hiring of these professionals.
February saw the demand fall further at -16% year-on-year, before seeing a peak in March at 12% year-on-year. The sharpest growth was recorded in July at 33% 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
When looking at the demand for HR professionals in Philippines, the first quarter saw sharp drops in overall online hiring activity.
February saw the sharpest dip in the sector at -18% year-on-year, while June saw the greatest demand at 28% year-on-year growth.
Hiring activity remained fairly positive for the rest of 2016, recording 4% year-on-year growth in December 2016.
