CEBU, Philippines - Similar to the fate of the small and medium enterprises, the banking sector is likewise having difficulty in hiring competent people to man their operations amid a very competitive employment market in Cebu.
Cebu Bankers Club (CBC) past president Prudencio Gesta said most banks want to expand but often feel short of “qualified” people to hire.
“We wanted to expand, but we are not getting qualified staff and officers to man our branches,” said Gesta adding that the mindset of the new generation professionals is “they keep on hopping from one job to another.”
Because of this, the banking sector is now offering attractive salary, benefits, and incentives packages to retain the competent personnel.
“We usually give what is required by law, but banks now are willing to compete in terms of giving attractive salaries and benefits,” Gesta said.
Gesta, who is also the senior vice president and deputy group head for Rizal Commercial Banking Corporation (RCBC), said that the robust growth of Business Process Outsourcing (BPO) sector, somehow affected the manpower sourcing of the banking industry.
He admitted that apart from other industry players, BPO is the number one competition of banks in getting good manpower requirements.
According to Gesta, unlike before that manpower supply was abundant. Today, the stiff job market competition has affected the banks’ sourcing for additional workers.
Although, some say that BPO employment is mostly considered as “short-term”, a lot of fresh graduates, even those who are already qualified for managerial and supervisory levels, are tempted to try the outsourcing field because of inviting salary packages.
Gesta’s statement, re-enforced the earlier pronouncement made by Cebu-based job website Mynimo president Wesley Chiongbian, saying the strong demand for employment across industries, threatens the SMEs (Small and Medium Entrepreneurs) in getting good people.
Chiongbian said the competition in the job market now, is between SMEs and large companies, including the growing BPO.
Stable banks, which are known for their good salary packages and benefits are even challenged of the competitive job market, how much more the SMEs, said Gesta.
Chiongbian suggested that because of this development, SMEs and employers in general should update their workers’ pay packages, including the offering of workers’ active participation, or an option of giving ownership stake for employees, who are now considered as “jewels” of any business.
According to Gesta, the reality now, is one can quit a job work, and after a day or two, he/she can get an employment.
Next year, the job market is expected to be more competitive, and that employers should immediately review its human resource packages, otherwise competitive and good people will be snatched either by other companies, or in good employment opportunities abroad. (FREEMAN)