CEBU, Philippines - Demand for local jobs in the Philippines is expected to further expand in the next few years, as the country is slowly taking the "spotlight" as good human resource provider, compared to its neighbors.
Economist Frederico Rafael Ocampo, who is also chief investment officer of BDO Unibank Inc., said that the country's "sexy" stock market, and thick employable population, are just few of the irresistible advantages why the global investment community is now considering the Philippines as its entry point or expansion site for Asian operation.
In his presentation entitled "The Philippines Economy on the Rise," Ocampo said that compared to China, Thailand and Japan, the Philippines takes advantageous position with greater part of the 100-million population are in the working-zone age.
Unlike in the 1980s that the Philippines suffered from lack of job opportunities, the reason why many Filipinos left the country to find work abroad, today Filipinos have wider choices, either to stay with their family here, or earn a little bit higher and leave their loved ones in the Philippines, Ocampo said.
The prominent outsourcing sector will continue to liven the employment generation in the Philippines. However, the revival of interest among investors to re-consider the country as a conducive site for manufacturing operations, will balance the employment demand index, as even the undergraduates will be able to get a decent job.
The cost-cutting "mantra" adopted by global companies today, has further put the Philippines another inch higher compared to Asian neighbors, as outsourcing jobs will be dumped in the country exploiting the good human resource pool.
Because of this rosy yet factual outlook, Ocampo said the Philippines should also make complementary actions in order to sustain the country "wealth" in human resource, by engaging the academe sector in providing quality, world-class educational system.
Cebu in particular, continues to provide a promising job market, as uptight competition among local and multi-national companies hiring for personnel across professional and skilled-work fields strengthens, said Wesley Chiongbian, president and chief executive officer (CEO) of online job broker Mynimo.com.
"Cebuanos don't have to leave the country to look for jobs. Fortune 500 companies in the world are even setting up their offices here. The job market in Cebu is much more alive now," said Chiongbian.
Cebu has started to attract back-office-operation from big and Fortune 500 companies, like UnitedHealth Group, JP Morgan & Chase Mercedes-Benz Group Services, skill requirement and professional background and line of expertise widened while these companies are not servicing mainly customer service support, but other back-office jobs like accounting, human resource, claims (for insurance and financial companies) and other administrative works.
"The high-paying overseas jobs are coming to us. As long as you have the skills these companies need, you won’t have to go abroad to support the family," said Chiongbian.
Department of Labor and Employment (DOLE-7) assistant director Joel Gonzales confirmed Chiongbian's assessment on the actual job mart in Cebu, saying the upswing economy in Cebu and its charm to lure multinational companies continues to give Cebuano professionals wider options for career choices and employment opportunities. — (FREEMAN)