Follow the money

More than half of Filipino workers say they are considering to switch careers to make more money, a study suggests, reflecting a harsh truth that many today face.

This is according to the findings of a survey by recruitment giant Monster.com, which covered 2,400 professionals in Malaysia, the Philippines, and Singapore.

More than half of the respondents, or 1,264 of them, are based here in the Philippines.

Eighty-two percent of Filipino workers are already on the hunt for a new job within their field of expertise, the company said in a statement last week.

Eighty-eight percent, meanwhile, are also considering making the switch to another industry, simply because they want to find “the best job.”

The biggest reasons for this career switch are a better salary and financial stability (54 percent), followed by lack of growth opportunities in their current field (23 percent).

Monster Southeast Asia said it did the survey to examine the issues and stigmas around switching careers—either to be in a new industry or start a new career altogether.

It also aims to raise attention to these issues for employers, who might want to understand why their employees would consider changing careers and what they can do to retain their employees.

For Filipino professionals with more than 15 years of experience, 89 percent said they plan to switch career paths immediately or in the near future.

Thirty-eight percent said the main reason for this was the need to do something more purposeful and challenging, the company said.

The most desirable industry for young Filipinos to switch to is travel and tourism (10 percent), followed by education (9 percent) and banking/financial services/insurance (8 percent).

The survey also found 46 percent of Filipinos believe those who make a career switch are “brave” for doing so.

“The prospect of a career change is worrying for a majority of the workforce in the Philippines, but it’s also the most desirable option to earn more money and explore opportunities beyond what they have studied,” said Abhijeet Mukherjee, CEO, Monster.com of the Asia Pacific & Gulf.

“The notion that one might have jobs across two or even three completely different industries in a lifetime is not something so taboo anymore— in fact, it’s almost expected as employees practice lifelong learning, gain new skills, expand their networks and become more tech-savvy,” the official added.