Small firms vie with BPOs in recruiting talent
Owners of small and medium enterprises (SMEs) should not only improve their products but also design attractive compensation packages in order to attract the best job applicants.
Wesley Chiongbian, chief executive officer of Mynimo.com, gave this advice to entrepreneurs who lamented that they didn’t get enough job applicants or the right job prospects for openings posted online.
Stiff recruitment competition from call centers and other business process outsourcing companies was cited as a factor.
“I think it’s because of the very competitive environment we have now especially that the current entry level rate in a BPO (business process outsourcing) is already high. SMEs in Cebu or those operating with smaller numbers are now affected because they can’t compete head on with that,” Chiongbian said in an interview.
He said these companies were having problems recruiting personnel to fill supervisory to managerial positions.
He said job seekers today know what work they want to do and the incentive packages they seek before they apply for the job.
“People are more demanding now and that is expected because we have an abundance of job openings now and people become more picky when it comes to looking for the best company they want to work for,” said Chiongbian.
SMEs can address this hiring problem by offering higher salaries and better incentives for workers.
“Of course, we all have to grow and become competitive not only with our products but also with the people that we entrust our business with, the people who help us in our operations. With this, SMEs should design more attractive packages for their personnel not only with higher salaries but also with incentives that they can enjoy,” said Chiongbian.
He said there were over a thousand job postings in the job website Mynimo.com.
The biggest demand is for accountants followed by sales workers and managers.
Aside from SMEs, the banking sector is also facing similar hiring problems.
Prudencio Gesta, Rizal Commercial Banking Corporation senior vice president and deputy group head, said the banking sector was having difficulty looking for competent people to man their operations.
Gesta, a past president of the Cebu Bankers Club (CBC), said that it’s not only RCBC that experienced the problem but other banks as well.
“Most banks want to expand but the shortage of qualified staff is one of the challenges we are facing today. RCBC wanted to expand, but we are not getting qualified staff and officers to man our branches,” said Gesta.
He observed that members of the new generation of professionals don’t try hard to build a career in one company and instead tend to hop from one company to another to advance their career and seek higher salary levels.
Gesta said banks are not only competing with other banks now but also with other sectors, like outsourcing companies that offer financial services to clients abroad.
“We are now being aggressive by providing attractive salary, benefit, and incentive packages to keep good people. Before we would give only what is required by law, but nowadays with the stiff competition, banks are willing to compete,” said Gesta.
