Here’s what Filipinos think of startup companies
Say what?! Here's what Filipinos think of startup companiesYou might not have guessed this!
More and more employees are becoming open-minded about different job opportunities. The average Juan isn't just looking for a huge corporation to spend the rest of his days drowning in. Nowadays, employees place value in work culture, company ethics, and individual growth as much as high salary or corporate esteem.
With this, it goes without saying that start-up companies have become a viable option for the Filipino employee. According to JobStreet‟s Laws of Attraction, the latest employment study conducted by KANTAR, over 50 percent of Filipinos highly consider joining start-up companies. Most of the Filipinos who are considering working for start-up companies are either in higher rankings in their present jobs or are not employed at all.
Start-up companies are on the rise across industries, and Filipino employees value them regardless of field. Needless to say, the BPO industry—including the call center industry, the IT outsourcing industry, and the back-office support industry—is still leading as the most sought-after start-up field.
This is supported by Laws of Attraction Data Lab, which states, “employees who are attracted to the BPO industry „will definitely consider‟ joining a Philippine startup. Such is the prevailing sentiment of talents who opt to work in the call center (41%), IT outsourcing (34%), and back office support (31%) industries — well above the 28% cross-industry average.” Curious about how Pinoys actually see start-up opportunities? Read on to learn more about this.
Start-ups allow much learning.
More and more Filipinos are becoming interested in entrepreneurial works. Working in a start-up company allow employees to witness, first-hand, both the perks and the challenges of building a business.
Start-ups, due to their small-scale nature, also provide an intimate environment for employees to get up close and personal with employers. Since there are fewer employees running around the business, there are more distributed opportunities for everyone—regardless of ranking or position—to participate in invitational conferences, events, and projects.
Based on JobStreet‟s Law of Attraction Data Lab, 75.6% of Filipino employees who are attracted to start-ups see promotion opportunities a must. Meanwhile, 68.1% relate start-ups to clear career growth and succession plans. Self-development programs and awards are also factors that 58.1% of employees look forward to in start-ups.
On the other hand, working in a start-up also imposes more responsibility. The Filipino employee is aware of this. Working in a start-up means having to be flexible enough to work around multiple roles. While this does mean learning, it can be a bit too challenging for some employees who prefer the conventional route.
Start-ups have a relatively lenient environment.
Since start-up companies have yet to build structures and cultures, there is more space for flexibility, change and innovation in start-up companies. This is a very attractive trait for the young Filipino employee, as most are looking for a company wherein they feel visible.
The Filipino employee seeks a company where he or she has a voice, and where his or her life outside work is valued as much as his or her professional contribution. Based on JobStreet‟s Law of Attraction Data Lab, the third most sought-after factor of Filipino employees who are attracted to start-ups is the opportunity for work-life balance.
To add to this, start-up companies also present a laid back environment to the Filipino employee. Meaning, there is more transparency in leadership. Most Filipino employees who positively see start-up companies also keep in mind that they can build relationships with bosses and assistants alike.
Start-ups have a clear vision.
Building a company is not an easy task—it takes a clear vision to follow through. Without having much history or achievements to brag about, start-up companies normally emphasize their “why.”
While the top driver for start-up employees is still salary, not all start-ups can afford to provide a high payroll. Instead, these start-ups may attract Filipino employees through their corporate social responsibility—this is a growing factor among the Philippine market.
It is important that start-up companies show that they value their people over profit. Based on JobStreet‟s Law of Attraction Data Lab, 64.1% of Filipino employees who are attracted to start-ups seek this particular characteristic.
A purposeful start-up company builds a niche. The Filipino employee who shares the same values and vision is immediately attracted to it. Besides, a lack of purpose is one of the biggest reasons Filipino employees leave their high-paying jobs.
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