Hiring Overview
The foundit Insights Tracker (fit) highlights a contrasting scenario for the Philippines’ e-recruitment landscape. The tracker noted an 8% decline annually in e-recruitment activity for September 2023.
Despite this, the tracker remained steady month-on-month, and even showed a small 3% growth in the job market over the last three months.
Companies appear to be adapting strategically to shifting market demands and planning for future hiring needs amidst the current socio-economic landscape.
Sector-Wise Highlights
Just 4 out of 12 industries saw positive hiring growth for September.
Positive Momentum:
Retail: +22% YoY growth, although with a month-on-month decline.
Healthcare: Consistent +15% YoY and MoM growth, showcasing sustained demand.
BPO/ITES: +6% YoY, rebounding after a two-month dip, thanks to diversified outsourcing services.
Challenges Ahead:
IT, Telecom/ISP: Leading the downturn with a -23% YoY decline.
Advertising, MR, PR, Media & Entertainment: -15% YoY decline.
Logistics, Courier/Freight/Transportation, Shipping: -13% YoY decline.
Other Sectors:
Engineering, Construction and Real Estate showed a marginal +3% YoY growth.
Multiple sectors including Consumer Goods, Hospitality, and BFSI exhibited negative annual growth, with declines ranging from -2% to -11%.
Functional Area Insights
Growing Roles:
Healthcare professionals saw the highest annual growth at +13% YoY.
Customer Service roles increased by +8% YoY, likely due to the BPO sector’s growth.
Roles in Decline:
Sales & Business Development roles saw the steepest decline at -16% YoY.
HR & Admin declined by -15% YoY, although with a recent uptick in the past month.
Marketing & Communications roles also decreased by -13% YoY.
Other Functions:
Engineering/Production/Real Estate roles saw a flat 0% growth.
Purchase/Logistics/Supply Chain roles dipped -12% YoY but experienced recent growth.
Finance and Accounts roles observed a -7% annual decline.
In summary, the Philippines job market presents a mixed bag of opportunities and challenges. While some sectors and functions are witnessing growth, others are undergoing adjustments and contractions.
Read the full fit report for more insights
