By Vincent Mariel P. Galang, Reporter
PROFESSIONALS who are planning to switch jobs in 2020 can expect to get a 20-40% increase in their salaries, according to London-based recruitment consultancy firm Robert Walters.
At the same time, higher salaries are no longer the “sole motivator” for most professionals, who are looking for career growth and learning opportunities when deciding to move to a new job.
These were the findings in Robert Walters’ Salary Survey for 2020 released Nov. 26, which surveyed about 400 professionals in the Philippines.
“Professionals looking to stay within their roles can expect salary increments of up to 10%. Those moving jobs can expect to receive 20-40%, depending on their seniority levels and skill sets,” the report stated.
However, this is lower than the projected 20-60% increase in job switchers’ salaries this year.
“The shift moved from salaries to opportunities like learning and development, career progression… It’s not just about big salary increments… we’ve seen candidates accept lower salaries, but because there is more flexibility in terms of work-life arrangement,” Robert Walters Philippines Country Manager Monty Sujanani said in a briefing on Monday in Makati City.
Professionals are looking for companies that can give them work-life balance, especially more time for family, as well as opportunities to develop one’s skills, which also encourages them to stay in their current job.
“That’s becoming really the focus going to next year… salary is not the sole motivator, but it’s also about non-monetary benefits,” Mr. Sujanani said.
“It’s now about being open about career progression and also how creative companies can be about benefits… Being open about what is next? How am I going to upskill myself? That is what the new generation of leaders are looking for,” he added.
The survey showed 29% said career progression was the primary motivation in switching jobs.
Professionals in the technology industry can get salary increments of 30-60% when switching jobs. Most in-demand jobs are for IT security professionals, data scientists and engineers, and DevOps (development and operations) engineers.
Mr. Sujanani noted that businesses across all industries are expected to “continue their digital transformations and transition towards becoming data-driven businesses.” This will fuel the strong demand for tech professionals and digitally-savvy professionals, he added.
Robert Walters identified jobs that are expected to be in high demand, such as finance business partners, enterprise architects, data scientists and analysts, digital marketers, human resources transformation professionals and heads of supply chain.
With the move to digitalize, Robert Walters said it is important to hire mid-level and senior managers to lead a the team when navigating change and adopting new technology.
This will also boost demand for risk and compliance professionals, who will be in charge of guiding the company in the transformation stage to meet the demands of the changing regulatory requirements and rules due to growth of digital banking, financial technology, and online payment solutions.
Meanwhile, for those in accounting and finance, professionals can see salary increments of 15-25% when moving jobs next year. Salaries of job switchers in banking and financial services can jump by 30%; human resources by 20%-25%; sales and marketing by 20%-30%; and supply chain, procurement and logistics by 20%-25%.
“Demand for Filipino talent with international experience will continue to grow. Companies are encouraged to look outside of the domestic market to meet their needs, tapping into channels such as Balik Bayan, a campaign that reaches out to skilled overseas-based Filipino professionals, to encourage them to move home in a bid to ease skill shortages,” Robert Walters said in the report.