Successful Job Movement Up 45% in Q2 2021 from Q1: Michael Page Philippines
MANILA, PHILIPPINES - Media OutReach - 18 August 2021 - Global recruitment specialists Michael Page Philippines witnessed the number of successful job moves rise in Q2 2021 compared to Q1 with an overall 45% increase. According to job placement data shared by Michael Page, growth was also observed within sectors such as Digital (up 38%), Technology (up 18%) and Financial Services & Fintech (up 22%).
Albert Pérez, Regional Director of Michael Page Philippines
Albert Pérez, Regional Director of Michael Page Philippines observes, "With the COVID-19 pandemic, the reality is that a lot of companies have to transform themselves digitally in the Philippines. This is really driving the jobs especially with a variety of consumer online services such as e-wallets, delivery, transportation and goods services."
This has steered the job movement in the digital space up 38% in Q2 from Q1. "We see a strong demand for professionals at all levels where companies have quickly adjusted to the rapidly evolving business landscape, often needing to bring in external skills sets to accelerate digital upgrades," observes Albert Pérez.
Similarly, job placements in technology have seen an optimistic 18% increase as this demand for e-commerce capabilities and digital currency is earmarked for further growth. According to the Michael Page Philippines Talent Trends 2021 report, this has led to an increased demand in hiring for roles like mobile and web application developer. With accelerated digitalisation, the rise in cybercrimes, such as phishing and internet scams, have also increased during the pandemic. This indicates business and hiring opportunities in technology specialities, such as cybersecurity.
Hiring in the Philippines' Financial Services sector also rose (up 22%) in Q2 2021 led by growth in the Fintech and insurance spaces. "The talent acquisition market is competitive in specialist fields, and the implementation of IFRS 17, a global standard designed to achieve a consistent, principle-based accounting for insurance contracts by the International Accounting Standards Board (IASB), has created demand for talent. The pandemic has also accelerated the digital transformation in the banking sector. Fintech capabilities have to be quickly set up to ensure customer interactions remain effective and to assist customers with any urgent liquidity needs," comments Albert Pérez.
Source: Michael Page Philippines' proprietary data