Mid-level pro­fes­sion­als ex­pect up to 60% higher pay in 2019, says sur­vey

The Philippine Star - - BUSINESS - By CZERIZA VA­LEN­CIA

Ex­pe­ri­enced em­ploy­ees in key in­dus­tries – those with around seven to eight years of work ex­pe­ri­ence – may en­joy pay rises of any­where be­tween 20 per­cent and 60 per­cent in 2019 as em­ploy­ers seek to at­tract top tier tal­ent with in­ter­na­tional ex­po­sure and spe­cial­ized skill sets, ac­cord­ing to the an­nual salary sur­vey of global pro­fes­sional re­cruit­ment con­sul­tancy firm John Robert Wal­ters.

on the 2018 Salary Sur­vey of John Robert Wal­ters, mid-level ex­ec­u­tives and se­nior ex­ec­u­tives in ac­count­ing and fi­nance, bank­ing and fi­nance, hu­man re­sources, sales and mar­ket­ing, and tech­nol­ogy and trans­for­ma­tion ex­pect an in­crease of up to 60 per­cent in com­pen­sa­tion of­fers in 2019 from their cur­rent pay.

Monty Su­janani, Philip­pine coun­try man­ager for John Robert Wal­ters, said salaries were up by be­tween 20 per­cent and 40 per­cent in 2018 as hir­ing for top com­pany po­si­tions be­come can­di­date-driven due to the scarcity of top pro­fes­sion­als with above 10 years of ex­pe­ri­ence be­cause of the coun­try’s rel­a­tively young tal­ent pool.

Year 2018, he said, was an ac­tive year for re­cruit­ment amid a rel­a­tively stable eco­nomic en­vi­ron­ment in­flu­enced by the in­flux of for­eign com­pa­nies and surg­ing growth in lo­cal de­mand for goods and ser­vices.

“Com­pa­nies will con­tinue to look for pro­fes­sion­als with strong tech­ni­cal ex­per­tise across dif­fer­ent in­dus­tries and will seek skilled lo­cal tal­ent to fill more se­nior-level po­si­tions as the mar­ket ma­tures,” Su­janani said.

In­creased dig­i­ti­za­tion across in­dus­tries is caus­ing em­ploy­ers to look for work­ers with dig­i­tal or e-com­merce ex­pe­ri­ence.

“There was also a greater de­mand for niche spe­cial­iza­tion due to new reg­u­la­tions in the bank­ing and fi­nan­cial ser­vices sec­tor, mi­gra­tion ac­tiv­i­ties from abroad, and in­creas­ingly dig­i­tal and cash­less bank­ing ac­tiv­i­ties,” Su­janani said.

The sur­vey cov­ered the salaries and hir­ing trends for mid-level pro­fes­sion­als and se­nior-level pro­fes­sion­als across greater China and South­east Asia.

Su­janani said that along with greater de­mand for ex- ec­u­tives with strong tech­ni­cal skills, em­ploy­ers are also look­ing for com­pany lead­ers with strong soft skills. These skills go hand-in-hand for func­tions that in­volve the rev­enue side of busi­nesses.

“In ac­count­ing and fi­nance, for ex­am­ple, com­pa­nies are look­ing for se­nior pro­fes­sions who can face the rev­enue side of the busi­nesses. They are not look­ing only for num­ber crunch­ers. It uses soft skills, how they com­mu­ni­cate with clients and var­i­ous stake­hold­ers,” he said.

In bank­ing and fi­nance, the im­po­si­tion of stricter re­quire­ments by the Bangko Sen­tral ng Pilip­inas (BSP) fu­els the de­mand for com­pli­ance of­fi­cers and risks an­a­lysts.

In hu­man re­sources, em­ploy­ers are look­ing for ex­ec­u­tives who have knowl­edge in re­gional op­er­a­tions of firms as well as knowl­edge in changes in the on­go­ing tax re­form agenda of the govern­ment.

Sales and mar­ket­ing ex­ec­u­tives who have ex­pe­ri­ence in in­dus­trial sales and mar­ket­ing are now much sought-af­ter be­cause of the in­fra­struc­ture boom in the coun­try.

The hard­est ex­ec­u­tives to re­cruit are tech­nol­ogy pro­fes­sion­als, caus­ing com­pa­nies to dan­gle as much as 60 per­cent pay in­crease for job movers. Most in de­mand are pro­fes­sion­als who work with big data as clients now in­creasBased in­gly use an­a­lyt­ics to grow their busi­nesses.

Other IT pro­fes­sion­als in de­mand in the Philip­pines are those who spe­cial­ize in ro­bot­ics, au­to­ma­tion, and in­ter­net of things (IoT).

“It has come to a point when tech tal­ents can choose their jobs. It is now a tal­ent-driven sec­tor,” Su­janani said.

For pro­fes­sion­als in these fields who are still climb­ing the cor­po­rate lad­der, the good news is that com­pa­nies have been mak­ing sig­nif­i­cant in­vest­ments in train­ing and groom­ing ju­nior-level em­ploy­ees for mid-level to se­nior roles.

Such in­vest­ments can con­trib­ute to the ma­tu­rity of the Philip­pines la­bor mar­ket, the ma­jor­ity of which are young pro­fes­sion­als.

“In 2019, we ex­pect these com­pa­nies to be­gin reap­ing the re­wards of their in­vest­ments, as there will be an in­crease in pro­fes­sion­als with soughtafte­r skill sets in the mar­ket,” Su­janani said.

“How­ever, there is still a scarcity of top pro­fes­sion­als with above 10 years ex­pe­ri­ence due to the rel­a­tively young tal­ent mar­ket in the Philip­pines,” he said.

To at­tract and re­tain tal­ent, Su­janani said hir­ing man­agers need to en­sure that the vi­sion of the com­pany is “con­veyed to prospec­tive can­di­dates right at the start of the re­cruit­ment process.”

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