E-hiring sentiment in the Philippines experienced a bump in Q4, in line with the uptick in overall economic growth. Charting strong growth numbers of 15% for October, 15% for November, and 14% for December year-on-year, the online recruitment sector performed better this quarter as compared to Q3.
“The upward trajectory of online hiring growth in the Philippines is a reflection of last quarter’s economic recovery and is likely to accelerate even further given the current landscape. Consumer spending is expected to rise, driven by robust infrastructural developments, easing monetary conditions and a growing tourism sector, and this will help the economy maintain resilience,” said Krish Seshadri, CEO of Monster.com – APAC and Middle East.
“This is a good time for businesses and employers to start thinking ahead and take steps to future-proof their workforce, so that they are prepared to compete with the expected future demand and maintain their relevance in the global landscape.”
IT, Telecom/ISP led growth in e-recruitment activity among industry sectors, up by 28% year-on-year between December 2018 and 2019 — its steepest annual growth in 2019. The sector performed well in the short-term as well, up by 4% month-on-month and 9% over a three-month period.
Not far behind was the BFSI sector, which also continued to chart strong double-digit numbers and recorded its most notable growth of 27% year-on-year for the month of December 2019.
The BPO/ITES sector has been one with a long-term growth momentum in the Philippines and maintained that in Q4, rising marginally from 17% annual growth in November to 19% in December.
The MEI is a gauge of online job posting activity compiled monthly by Monster.com. It records the industries and occupations that show the highest and lowest growth in local recruitment activity.
When looking at specific job roles, HR & Admin professionals continued to lead annual growth in online demand among occupation groups with an impressive 36% year-on-year increase for October, which then dipped slightly to 35% and 32% in November and December, respectively.
Finance & Accounts talent experienced surging demand during the quarter and continued to chart double-digit annual growth numbers of 26% in both October and November, and 24% in December. Software, Hardware and Telecom professionals also experienced notable growth in Q4, with December witnessing the highest rise in demand for the occupation in 2019.
The Monster Employment Index is a monthly gauge of online job posting activity, based on a real-time review of millions of employer job opportunities culled from a large representative selection of career websites and online job listings across the Philippines. The Index does not reflect the trend of any one advertiser or source but is an aggregate measure of the change in job listings across the industry.