By Keith Richard D. Mariano

Survey says 4 in 10 Filipino millennials to resign from workplace in two years

Posted on January 30, 2016

COMPANIES could witness many of their younger employees leave within two years, as four in every 10 Filipino “millennials” consider resigning from their current jobs on perceived lack of leadership training, according to The Deloitte Millennial Survey 2016.

Results of the fifth annual survey, released by Deloitte Southeast Asia Ltd. member Navarro Amper & Co. on Friday, showed an even bigger 64% share of Filipino millennials thinking of resigning when the timeframe is extended to 2020.

Globally, 44% of millennials said they expect to resign within two years and 66% plan on leaving within five years, said a statement by Navarro Amper & Co.

The survey, which was conducted in the last quarter, covered nearly 7,700 from 29 countries. The sample included 300 respondents from the Philippines.

The respondents were 33 years old and below, have obtained a college degree, and currently work full time in predominantly large private sector organizations.

The dissatisfaction among such workers stems partly from the sense of being underutilized and the perception that they are not being developed as leaders, the survey results suggested.

In the Philippines, 62% of respondents said their leadership skills were not being fully developed in their current organization. Among those planning to resign within two years, 61% felt they were being overlooked for potential leadership positions.

“With a maximum age of 33, millennials are entering that period where they expect to have more say in the way their organization is run,” Navarro Amper & Co. Managing Partner and Chief Executive Officer Greg Navarro said.

“So in managing and engaging them, leaders have to keep this in mind and come up with a development track that recognizes that ambition: Is there room at the top for these young professionals and are they getting the necessary training for those posts?”

Also, millennials are bringing their personal values into the workplace, judging from the response of those occupying junior or senior level posts as to what factors influence their decisions at work.

“Personal values and morals” topped the list for 74% of Filipino millennials in junior-level positions and 76% in the senior level. Globally, 64% of senior-level and 49% of junior-level respondents rely on personal values.

Regardless of position, 69% of Filipino millennials also consider “personal goals and ambitions” while 59% think about their organizations’ “formal targets or objectives” in their decision-making process.

The survey further asked what metrics respondents think should be used when taking stock of a company’s success, the statement said.

For Filipino millennials, 81% said business success should be measured by more than financial performance. This trails the 87% global result.

“Employee satisfaction/being a great place to work” was also cited by 75% of Filipino millennials, compared with the 62% global tally. The response “quality of its products/services” was picked by 72% locally and 63% globally. At the bottom was “level of efficiency” at 56% in the Philippines and 48% in the global survey.

“This is something business leaders should consider as more and more millennials take on positions of authority: How will the values of this generation affect the focus and direction of businesses?” Mr. Navarro said.

“These priorities should also clue leaders in on how to keep and attract these employees. This is critical particularly for local businesses since we are going to see a dearth of new graduates in the next two years due to the K to 12 Program.”

As to what makes for an ideal workplace, aside from salary, Filipino respondents ranked “good work-life balance” as the most important (15.3%), followed by “opportunities to progress/take on leadership role” (14.7%) and “training programs offered to support professional development” (9.2%).

Least of their concerns were whether the organization is “fast growing/dynamic” (4.4%), its “investment in and use of latest technology” (4.2%) and the “reputation of its leaders/senior executives” (3.2%).