Over one in five employees in the Philippines seek new opportunities
More than one-fifth of employees (29%) in the Philippines are seeking new job opportunities and demanding higher pay from their current employers to meet the rising cost of living in the country.
According to the 2023 PwC Hopes and Fears Global Workforce Survey, the rate of Filipino employees looking for new employers in the next 12 months is higher compared to the global result of 26%, and slightly lower to the regional rate of 30%. These findings, said PwC Philippines Managing Principal Veronica Bartolome, demonstrate that Filipino employees saw themselves as more restless and are more eager to demand pay raise and promotions to meet cost of living concerns.
“Business leaders and organisations must consider not only financial but also non-financial rewards to meet increasing expectations of employees,” said Bartolome.
PwC Southeast Asia Workforce Transformation Leader Martijn Schouten emphasised that while 25% of employees around the world wanted to change jobs in the next 12 months, the global crisis hindered them to bounce easily to the next opportunity, due to the lack of job security and their own high demands for increased salaries, career advancement opportunities, and development opportunities.
READ MORE: Nationwide wage hike remains on track in the Philippines
Despite the considerable number of employees in the Philippines who want to leave their jobs, many were willing to exhaust and try opportunities and possibilities within their current organisations. The onus thus, said Bartolome and Monserrate, is for employers to look beyond financial renumeration and counteroffers for those seeking resignation, to enhancing their employees’ total wellbeing in the workplace.