More Filipinos switch careers for better salary

Infographics by monster.com
Infographics by monster.com

THE desire to earn higher salaries and explore their professional options is driving employees in the Philippines to switch career paths entirely, according to findings from a survey by recruitment giant Monster.com.

While a whopping 82 percent of Filipino workers are already on the hunt for a new job within their field of expertise, 88 percent are also considering making the switch to another industry altogether, simply because they want to find “the best job.”

The biggest reasons for this career switch is a better salary and financial stability (54 percent), followed by lack of growth opportunities in their current field (23 percent).

These responses are part of a wider #IMadeTheSwitch campaign, in which Monster polled more than 2,400 respondents across the Philippines, Singapore and Malaysia to examine and raise awareness on issues around career transitioning across Southeast Asia.

It also aims to identify these issues for employers, who might want to understand why employees would consider changing careers, and how they can retain their workforce.

For fresh entrants to the workforce, the top reason cited for a career switch is the realization they need to widen their skill set (66 percent). However, the biggest concerns about doing this is inexperience in the field they wish to pursue (33 percent) and a lack of qualifications (21 percent).

Among mid-career professionals, 58 percent would change jobs for a better salary—which isn’t surprising given 43 percent said they are the sole earner for their families. Currently, 48 percent said their current career path isn’t working for them because they feel underpaid, while 24 percent said their job simply isn’t how they expected it to be.

For Filipino professionals with over 15 years of experience, 89 percent said they plan to switch career paths immediately or in the near future. The main reason for this is the need to do something more purposeful and challenging (38 percent).

The most desirable industry for young Filipinos to switch to is travel and tourism (10 percent), followed by education (nine percent) and banking / financial services / insurance (eight percent).

The survey also found 46 percent of Filipinos believe those who make a career switch are “brave” for doing so.

“The prospect of a career change is worrying for a majority of the workforce in the Philippines, but it’s also the most desirable option to earn more money and explore opportunities beyond what they have studied. The notion that one might have jobs across two or even three completely different industries in a lifetime is not something so taboo anymore. In fact, it’s almost expected as employees practice lifelong learning, gain new skills, expand their networks and become more tech-savvy,” said Abhijeet Mukherjee, chief executive officer of Monster.com – Asia Pacific and Gulf region.

“Changing workforce patterns, job displacement and automation worry talent, who fear losing their job due to redundancies. Employers need to provide staff with opportunities to challenge themselves. While financial stability is a main driver for career switching, you are likely to be able to retain talent for longer by providing learning opportunities. Filipinos are tech-hungry, confident and creative individuals—many with an entrepreneurial mindset—so it’s important to cater to this constant need to upskill and get rewarded for their efforts.”

Monster Philippines is launching its latest annual #IMadeTheSwitch campaign to examine and raise awareness on issues concerning a transition from one career path to another across Southeast Asia.

Monster.com surveyed over 2,400 professionals across Malaysia (799), the Philippines (1,264) and Singapore (410) to identify challenges and perceptions around switching careers and industries. (PR)

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