Despite a decrease in both unemployment and underemployment, signaling a robust job market, Filipino workers are pushing for more than just a job. They are seeking stability, flexibility, and opportunities for skills development.
According to the Philippine Statistics Authority (PSA), the employment rate rose to 96.8 percent in November last year from 96.4 percent the previous year. However, the total number of employed individuals slightly decreased, coupled with a drop in the labor force participation rate amid shift in worker priorities and preferences.
The decline in labor force participation, however, can be attributed to other factors, including the increase in Filipinos pursuing further education or entrepreneurship opportunities, along with the rise of the gig economy and freelance work.
Moreover, while emigration rates have remained relatively stable, Filipinos seeking temporary overseas work contracts have noticed a noticeable increase.
"The next step is to expand business and employment opportunities to enable more Filipinos to actively and productively contribute to the economy," said Arsenio M. Balisacan, Secretary of the National Economic and Development Authority (NEDA).
He also cited the need for "business upgrading and skills training programs to ensure that these jobs offer competitive wages as our workers raise their productivity."
Stability and flexibility: Key priorities for Filipino workers
This sentiment aligns with findings from Jobstreet by SEEK, an online job platform. Their "Decoding Global Talent Report: GenAI Edition" revealed that 67 percent of Filipino talent prioritize a stable job with a good work-life balance. Flexibility is also key, with strong preferences for work-from-home or hybrid arrangements.
Interestingly, while Filipinos value flexibility, they still favor traditional full-time employment and are more likely to take on multiple full-time roles rather than part-time positions.
"The Filipino workforce's dedication to learning is a tremendous asset that drives innovation and long-term success," said Joey Yusingco, Jobstreet by SEEK Philippines' Head of Marketing.
The report showed that 40 percent of Filipino employees are dedicated to weekly skills development, focusing on analytical, job-specific, creative, and project management skills.
Upskilling and reskilling for the future
This focus on upskilling and reskilling also aligns with the World Economic Forum's (WEF) "Future of Jobs Report 2025,” released last week, which predicted major job market changes by 2030.
The WEF report forecasted growth in the technology, healthcare, and agriculture sectors, with increasing demand for software developers, nurses, and agricultural workers.
The WEF report also anticipates declining roles susceptible to automation and outsourcing, such as cashiers, administrative assistants, and accountants.
Both the Jobstreet and WEF reports also noted the growing importance of skills like artificial intelligence (AI) and big data, cybersecurity, technological literacy, and creative thinking.
They said these skills are crucial for navigating the rapidly evolving technological landscape and ensuring employability in the future.
"Trends such as generative AI and rapid technological shifts are upending industries and labor markets, creating both unprecedented opportunities and profound risks," said Till Leopold, Head of Work, Wages and Job Creation at the WEF.
To address these challenges, the WEF raised the importance of reskilling and upskilling initiatives, particularly in technology-related fields. However, human skills such as creative thinking, resilience, and leadership remain vital.
Gov’t and employers must adapt to support workers
In the Philippines, the government recognized the need to support these initiatives. Balisacan said that facilitating alternative work arrangements is important to meet evolving worker preferences and organizational demands.
He also said there are government programs aimed at increasing employability, especially among youth.
Beyond skills development, employers must also focus on creating a fulfilling work environment to retain talent.
Jobstreet's report indicated that employees who find their work satisfying are 49 percent less likely to leave their jobs.
Jobstreet's said this satisfaction extends beyond compensation to encompass work-life balance, meaningful relationships, and opportunities to contribute to society.
Mental health and well-being: A growing priority
Mental health and well-being are also becoming increasingly important. Employers need to foster a supportive and holistic work environment that values employee well-being and provides resources for stress management and psychological safety.
As the Philippines navigates this evolving job market, collaboration between the government, employers, and employees is crucial.
By investing in skills development, promoting work-life balance, and fostering a supportive work environment, the country can ensure a thriving and resilient workforce ready to embrace the challenges and opportunities of the future.