Philippine firms’ robust growth bucks global slump

By Mayvelin U Caraballo/Manila Times

The survey showed that the Philippines remained untouched by the gloomy scenarios of unemployment and plummeting profits in other parts of the world.

The poll, which involved 26,000 businesses across 90 countries, revealed that the latest Business Confidence Index found that a great number of Philippine companies have posted soaring incomes.

In fact, 63% of businesses reported rising revenues, while 59% said their profits increased over the past 12 months.

With many of these companies planning to expand operations, a hiring binge is expected. However, these firms will put emphasis on sales and marketing, as many businesses feel that it is the right time to boost sales.

The survey said nearly a third, or 30%, of these companies plan to increase their personnel by more than 5%, 51% are set to hire more sales and marketing employees, while 53% want to get more operational staff.

Regus added that the findings highlighted a strong emphasis on recruiting more sales, marketing and operational staff in the Philippines. It said that this positivity bolsters a stable business confidence index score, which has risen slightly in the Philippines since October 2012. The index for the Philippines stands at 147 points, up one point from six months ago.

“The figures reveal that firms are not just looking to recruit but that their plan is to invest in sales and marketing. This shows that companies feel it’s the right time to go out there and sell,” John Henderson from Regus said.

He added that results suggest that sales and marketing professionals will be in high demand in the coming months. Businesses need to consider how to recruit and retain the best in the field, ensuring they can remain competitive in their market, Henderson explained.

It noted that 85% of businesses are planning to increase or maintain headcount in 2013, with one in four going for an expansion of more than 5%.

The survey further said that a remarkable 57% aim to bolster sales and marketing departments and a large rise in operational hires (40%) is anticipated to service new sales.

Furthermore, it also said that small businesses - traditionally an engine of economic recovery - are most likely to take on significant numbers of new staff at 28%.

“All trends indicate that offering flexible working will move from a ‘nice to have’ perk to a necessary condition of employment, being key to securing and retaining the best employees for any company,” Henderson said.

He added that younger people are entering the workforce with a “very different attitude to work,” placing flexibility and quality of life above more traditional considerations. “But flexible working also brings additional benefits, helping businesses cut fixed office space costs and increase staff productivity,” Henderson said.