GLOBAL thought leader in talent research and employer branding Universum revealed in its latest annual global talent insight report that Filipino Gen Zs prioritize employers who are able to offer training and development, a conducive work environment and high future earnings.
The Philippine portion of the Universum Talent Survey 2023 polled 5,698 students from 103 universities from November 2022 to March 2023.
The Universum survey showed the future talent pool prioritizes employers that offer professional training and development and have a friendly work environment with flexible conditions.
In fact, the survey showed 82 percent said they are interested in exploring remote work opportunities.
Nonetheless, respondents acknowledge the challenges that come with a remote work setup: 46 percent of the
respondents agreed that internet connection is a remote work issue, followed by the potential impact on work-life balance, with 42 percent; and limited social connection with colleagues, 42 percent.
Meanwhile, the Universum study showed the future talent pool’s annual salary expectation dropped by about 25 percent.
The study showed that Filipino Gen Zs target an initial annual salary of P374,403 or about P31,000 per month.
This is lower compared to the P495,966 annual salary or about P41,000 monthly salary expectation in the 2022 report.
Moreover, the survey showed that young female Filipinos expect a salary that’s 10 percent less than their male counterparts. The average annual salary expectation of female respondents is P360,606 compared to male respondents’ P399,081.
Across three different strands surveyed by Universum—Business/Commerce, Science Technology, Engineering, and Mathematics (STEM), and Humanities/Liberal Arts/Education—professional training and development is among the “important attributes” that students look for in an employer.
Ethics, balance, respect
The global talent research firm also divulged that Filipino Gen Zs are looking for a company that “upholds ethical standards, promotes work-life balance and respects their employees.”
“They want to work in a company that offers secure employment, can serve as a good reference for future career and offers opportunities for international travel or relocation,” Universum said in a statement on Wednesday.
The Universum study also revealed that 54 percent of the surveyed young Filipinos would choose private employers over companies in the public sector.
As to the size of the company, the study showed that despite the growth of the start-up scene in the Philippines in recent years, a majority of the country’s future workers still prefer companies with “organizational maturity.”
Seventy-nine percent of survey respondents say they would rather work for a well-established organization instead of a start-up, which only 21 percent of the respondents agreed to work in.
The survey also found that 57 percent of the respondents would choose to work for large organizations compared to the 43 percent who chose small to medium-sized companies.
Meanwhile, the report revealed a “growing preference” among young Filipinos to work for global firms.
“Aligned with their pursuit of international travel or relocation and a strong future career path, 74 percent of respondents want to jump-start their careers in companies with global operations while 52 percent would choose companies with global origin,” Universum said.
Meanwhile, the study said only 26 percent would select companies with Philippine-based operations and 48 percent would work for companies of local origin.
As to the “top ideal employers” among students pursuing business and commerce courses, they have ranked Bangko Sentral ng Pilipinas (BSP), Philippine Airlines, Google, Ayala Corporation and San Miguel Corporation as their top 5 attractive employers.
For STEM students, the top ideal employers are Google, Microsoft, Intel, Ayala Corporation and Pfizer. Meanwhile, students of humanities, liberal arts and education have selected Google, ABS-CBN Corporation, GMA Network, Philippine Airlines and Microsoft as the employers they would most want to work for.
As a tech-savvy generation, Universum said 69 percent or the majority of survey respondents said they would use Facebook to learn more about their employers, followed by the employer’s corporate website, with 45 percent; and 44 percent said they opt to use a career website.
For his part, Mike Parsons, Asia-Pacific (APAC) Managing Director for Universum, underscored the importance of understanding the preferences of the country’s future talent pool and how organizations can prepare or address those.
“The challenge for employers who want to attract the best and brightest is to juggle providing a work environment that presents opportunities but at the same time offers flexibility and work-life balance. Awareness among companies of what future employees seek would be valuable not only in hiring the best candidate but also in retaining them, which is essential for both the individual’s and the company’s growth and success,” Parsons noted.
Image credits: Nonie Reyes