THE vast majority of the work force is considering a change to another industry for improved financial prospects and stability, job search site Monster.com said, citing the results of a survey.
“The prospect of a career change is worrying for a majority of the work force 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,” Abhijeet Mukherjee, CEO of Monster.com for the Asia-Pacific and Middle East, said in a statement.
Monster said that 88% of Filipino workers are considering a change of industry, with 54% saying that the main attractions are higher salary and financial stability, while 23% said their current jobs lack growth opportunities.
Among new professionals, 66% said that the main attraction of switching industries is to widen their skills, although 33% were concerned about their lack of experience in the industry they want to join, while 21% said they lack qualifications.
For mid-career professionals, 58% are considering a career change, with respondents who consider themselves underpaid in their current field at 48%. Some 24% said their current jobs have not met initial expectations.
Among professionals with more than 15 years of experience, 89% said they would change careers immediately or soon enough. Among these respondents, 38% said they felt “the need to do something more purposeful and challenging.”
The Travel & Tourism industry (10%), Education industry (9%), and the Banking, Financial Services and Insurance industry (8%) were the top choices for potential career shifters.
“Changing work force 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 mind-set — so it’s important to cater to this constant need to upskill and get rewarded for their efforts,” Mr. Mukherjee added. — Vincent Mariel P. Galang
