Hiring plan of companies almost back pre-pandemic

COMPANIES are now eager to hire more employees to grow in the post-pandemic business environment. This is after Covid-19 paused hiring opportunities for more than two years.

In the Philippines, one in two companies, mostly the large ones with more than 160 employees, reported that their hiring plan is back to the pre-pandemic levels. This is according to JobStreet by Seek’s latest “2022-2023 Outlook in Hiring, Compensation, and Benefits Report.”

However, the pandemic’s impact, which includes the emergence of remote working technology, also affects the type of jobs being hired.

JobStreet surveyed 438 large, medium and small companies in the Philippines. The majority of the respondents belong to the large category.

Most companies surveyed had hired employees full-time, and only one in four companies laid off at least one employee for the past six months.

Full-time hiring is found in job functions in information technology (IT), transportation and logistics, accounting, admin and human resource and customer service.

Moreover, the survey also showed that the job function most affected by remote working setup and flexible working culture were jobs related to customer service, with most roles being hired on a part-time basis as the pandemic subsided.

Results of the survey also showed that small companies were more likely to increase their hiring of permanent full-time staff for the next three months in sales/business development, admin and human resource, and IT roles.

However, on a more significant trend, large companies are looking to increase their workforce by maintaining or improving the number of part-time staff or hours worked, signaling that most small companies are expecting an uptick in sales and demand. Only five large companies are planning to reduce their dependence on part-time staff.

Talent competition

Despite the hiring trends from companies, especially the increasing pattern of hiring part-time employees, the competition to attract talent remains high.

Results of the survey also showed that aside from salary, factors such as compensation, benefits, and special leave are critical in attracting talent.

For example, seven out of 10 companies provided performance, guaranteed or contractual bonuses, with large companies being more likely to provide at least one type of bonus. Besides bonuses and salary increases, staff promotion remains at the top of ways to attract employees.

“As we return to pre-pandemic conditions, the competition for talent will also increase given current global conditions. Companies need to be able to strategize on their talent attraction and retention to remain at the top of employees’ minds. This includes providing compensation, benefits, and other programs that can enrich the working experience,” said Philip Gioca, country manager of JobStreet Philippines, in a statement.

“Additionally, for the Philippines, we foresee that human resource digitalization which allows human resource process transformation, will make companies stay competitive. Companies should consider what the employees need and want, and be able to adapt to shifting expectations. This will be critical to attracting talent given the competitive labor market.” / KOC