Things You Need to Know Before Hiring in the Philippines

Filipinos are known to be competent, innovative, and creative workers who strive to serve high-quality work. This is why the Philippines is now one of the countries on the rise in the remote-working job market. It is with no doubt that many employers seek top talents from the country. If you also want to expand your workforce beyond the boundaries of your country towards the Philippines, the first thing you must know is the salary trends.

[READ: How to Attract and Retain Top Talent From the Philippines]

Salary trends refer to the changes or patterns that compensations go through over time in an industry or economy. Knowing this enables businesses to make informed decisions when it comes to hiring and retaining talent to ensure that they remain competitive in the market. It also helps in attracting qualified candidates and crafting enticing job offers. Lastly, it will help build better relationships with their employees and maintain a higher retention rate.

The Philippine job market is influenced by various economic factors such as GDP growth, inflation rate, and industry performance. Certain industries exhibit a high demand for skilled professionals which drives competition for talent across sectors. Salary expectations also vary across regions, with Metro Manila often offering higher compensation compared to provincial areas.

A Php 38.00 increase in the minimum wage has been implemented by the Department of Labor and Employment (DOLE) in their new order last March 6. Workers in the non-agricultural sector must receive a daily minimum wage of Php 462, while the agricultural sector must have a minimum wage of Php 457 a day.

Here’s the projected salary increase in the Philippines for 2024 according to Willis Towers Watson 2023 Salary Budget Planning Survey Report in Asia Pacific. 

Source: Willis Towers Watson

Understanding salary trends is essential for businesses navigating the Philippine job market, enabling them to make informed decisions regarding talent acquisition and retention. Leveraging insights from salary trends, businesses can tailor competitive compensation packages to attract and retain top Filipino talents.

It’s time to optimize your hiring strategies today! Start your free trial on Kalibrr and start hiring Filipino talents with confidence.

—

Kalibrr is a recruitment technology company that aims to transform how candidates find jobs and how companies hire talent. Placing the candidate experience at the center of everything it does, we continue to attract the best talent from all over, with more than 7 million professionals and counting. Kalibrr ultimately connects these talents to companies in search of their next generation of leaders.

The only end-to-end recruitment solutions provider in Southeast Asia, Kalibrr is headquartered in Makati, Philippines, with offices in San Francisco, California, and Jakarta, Indonesia. Established in 2012, it has served over 18,000 clients and is backed by some of the world’s most powerful start-up incubators and venture capitalists. These include Y Combinator, Omidyar Network, Patamar Capital, Wavemaker Partners, and Kickstart Ventures.

For more tips on acing job interviews, follow Kalibrr on Facebook, Instagram, LinkedIn, and Tiktok.