The Philippines recorded a 14 percent year-on-year (YoY) score in online hiring for the IT, telecommunications, and business process outsourcing (BPO) industry between June 2016 and 2017.
This is a 9 percentage point decrease from 23 percent YoY growth between May 2016 and 2017.
The finding is based on the latest data from Monster Employment Index (MEI), a monthly analysis of online job hiring activity of employers in the Philippines, Singapore, and Malaysia.
Despite the drop, BPO/information technology-enabled services (ITES) remained as the top growth industry for online hiring in the Philippines with 18 percent YoY growth.
Singapore also experienced a dip in online hiring for the IT, telecommunications, and BPO sector with 10 percent YoY growth between last June and this June, a 3 percentage point decrease from 13 percent YoY growth from May 2016 and 2017.
Malaysia is the only market to experience growth in online hiring on the same field with 32 percent YoY growth from June 2016 to June 2017, a 23 percentage point jump from 9 percent YoY growth between May 2016 and 2017.
Meanwhile, online hiring for software, hardware, and telecom jobs in the Philippines also plunged by 9 percentage point, with 1 percent YoY growth between June 2016 and June 2017. Singapore maintained its 13 percent YoY growth between May 2016 and 2017.
Malaysia recovered from -4 percent YoY score between May 2016 and May 2017 to leap to 48 percent YoY growth between June 2016 and 2017.
"While hiring momentum in the region is shaping well, a few challenges due to rapid disruption continue to create headwinds for businesses. Retaining top tech talent in this competitive landscape is a key challenge. Moreover, the supply of tech talent cannot keep up with the demand especially in Malaysia - an increasingly dominant area of IT given the level of IT transition happening in the country," said Sanjay Modi, managing director of online job portal Monster.com in Asia Pacific (APAC) and Middle East.
"With digitalisation being adopted across all organisations, the demand for niche talent in the industry has never been greater, especially with the consistent threat of cyber security, which is one of the most difficult roles to fill. Recruiters are definitely on the lookout for engineers and analysts with strong commercial acumen," added Modi.
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