foundit Insights Tracker in the Philippines shows a consistent 10% annual increase in e-recruitment for January 2024.
The tracker also saw a 4% MoM increase in hiring activity, and a remarkable 15% surge in hiring demand over the past three months.
This upswing is mainly due to rapid digitalisation, particularly with substantial investments in gen-AI. Strategic initiatives by the Filipino Government have also played a crucial role in fostering overall growth.
Hiring trends industries (YoY numbers)
Hiring rose in 9 out of the 12 industries monitored by the tracker
In demand:
- The Education (+73%) industry witnessed the steepest annual growth and is expanding exponentially (with a notable 16% increase in the last month.) This surge can be credited to the region’s increased emphasis on upskilling initiatives.
- The Retail (+47%) sector witnessed a remarkable surge in online hiring demand, driven by heightened demand in e-commerce, which has led to an uptick in demand in Logistics, Courier/ Freight/ Transportation, Shipping (+19%) as well.
Holding steady:
- BFSI (+1%), Engineering, Construction, and Real Estate (+1%), Production/Manufacturing, Automotive and Ancillary (+3%).
Facing challenges:
- The IT, Telecom/ISP (-19%) sector continues to face a significant reduction in hiring activity, marking a decline.
- Consumer Goods/FMCG, Food & Packaged Food (-13%), and BPO/ITES (-2%), sectors also register annual downturns. Additionally, BPO/ITES sector witnessed a 10% reduction in jobs over the last month.
Hiring Trends – Functional Area* (YoY numbers)
Online recruitment activity surpassed the year-ago level in 10 of the 12 functional areas
In demand:
- Purchase/Logistics/Supply Chain (+34%) professionals witnessed a remarkable demand annually (with a continued surge of 25% over the last month.)
- The increase in demand for Software, Hardware and Telecom roles is chiefly credited to the rapid advancement of digitalisation. Also, the function saw an 8% increase over the last month.
Holding steady:
- Customer Service (+2%), Hospitality & Travel (+4%), Finance & Accounts (+4%) saw marginal growth
In decline:
- Sales & Business Development (-2%) and Engineering/Production/Real Estate (-1%) roles experienced a marginal decline in annual hiring activity
About the foundit Insights Tracker
The foundit Insights Tracker (fit) Philippines, earlier known as the Monster Employment Index, is the leading guide to Philippines e-recruitment landscape. By examining millions of job listings, fit provides insights into the hiring trends in the Philippines.
