'Robust' job market seen this year with companies hiring more

Jessica Fenol, ABS-CBN News

Posted at Feb 27 2018 12:53 PM | Updated as of Oct 14 2018 04:48 PM

MANILA - The job market will be "robust" this year, as more companies seek to expand their work force, according to a study by recruitment portal Jobstreet.com released on Tuesday.

Ninety-five percent of companies, both big companies and small enterprises, will be active in the job market in 2018, according to the report.

Sixty percent will expand and hire more people, 19 percent will fill or replace essential positions while 16 percent will maintain their 2017 hiring rate, the report said.

Three percent percent will hire less while 2 percent will freeze recruitment this year, according to the study, which is based on openings posted on the portal.

"While more candidates see themselves to be more participative in the job market this year, companies are also foreseeing robust hiring activity, which means the competition to attract and retain top talent will be more vigorous," said Jobstreet.com Philippines country manager Philip Gioca.

"What will make or break employers this year is how attentive and primed they are to address the emerging needs of employees,” he said.

Majority of employers remained optimistic this year, with an average of 5.01 based on Jobstreet.com's 7-point scale. Jobseekers scored 4.68.

Attracting and retaining talents will "become more challenging" this year due to competition and diversification of skills, the report said.

Jobseekers search for better opportunities and incentives such as health and medical insurance for themselves and their dependents as well as family related leaves such as birthday leaves and extended paternity and maternity leaves, the report said.

They are also "more cautiously optimistic" over their prospects this year, said Cielo Javier, country marketing manager for Jobstreet.com Philippines.