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Promotion Takes Backseat to Well-Being Among Pinoys
For Filipino workers, it’s no longer about promotions or higher pay.
A survey by international hiring and recruitment firm Michael Page has found that Filipinos now prioritize their well-being more than better compensation.
In Talent Trends 2024, the company said 49%, or nearly half of survey respondents said they would turn down the promotion if it would compromise their well-being. While this figure is a decrease of 4% from last year, Philippine results still trumped the global average at 48%, and the Asia Pacific average at 43%.
Wellness over promotion
The well-being-over-promotion mindset is especially true among employees 40 years old and above, with 58% of respondents in this age range saying they’d turn down a role upgrade to stay sane. Among those in their 30s, the figure is at 52%, and 46% for twentysomethings. The lowest incidence is among those in their 50s at 42%.
Interestingly, survey respondents with roles in top-level management held this preference the most at 61%, followed by mid-level managers and rank-and-file employees at 56%, and senior management at 49%.
It did not matter whether the employees were single or had children. The proportion of employees who are single with no children and married or partnered with children would equally decline a promotion for their well-being, at 51%. Among those married or partnered without children, the number is at 45%, and for those single with children, 40%.
Competitive pay no longer enough
The survey further found that “competitive pay is not enough anymore” to retain good talent, with a majority open to new roles even while satisfied with their current pay.
“…[E]mployees increasingly prioritize factors beyond financial compensation in their career decisions. They seek deeper fulfillment, career advancement and better overall wellbeing, signaling a critical shift in the factors influencing career moves and retention policies,” the study said.
A staggering 94% of Philippine employees are still open to new roles, higher than the global average at 90% and the Asia Pacific average at 89%.
Workplace flexibility is also important for 89% of respondents when applying for or considering accepting a new job. The study found that over a third of employees in the Philippines prioritize flexible work arrangements, including flexible hours and a hybrid work arrangement.
“In 2024, people seek flexibility in their work arrangements when evaluating potential employers or considering a change from their current role,” the study said.
The Talent Trends Report 2024 surveyed 464 respondents in the Philippines between November and December 2023. The report covered 11 other Asia Pacific markets.