More than one in two (62%) overseas Filipino professionals are keen to relocate back home within the next five years, due to personal reasons such as to take care of aging parents and be closer to family. This is an increase from 2021, which saw 54% of respondents keen to consider coming home.
These are among the findings of a recent poll by recruiter Robert Walters Philippines among overseas Filipino professionals this year. The disparity in compensation and benefits offered locally and a perceived lower standard of living conditions are however making these professionals think twice about relocating back.
โAs the number of overseas Filipino professionals returning home continues to grow, it presents a valuable opportunity for local employers. These returning professionals often possess enhanced technical skills and a more adaptable mindset, honed through their experiences in diverse international environments. Their agility in responding to the changing business landscape can provide a significant advantage to organisations as they are able to come up with innovative strategies to help achieve business objectives,โ says Alejandro Perez-Higuero, Director of Robert Walters Philippines.
Supporting factors of returning home
With Filipinos known to have close family ties, the survey revealed 56% of those who are willing to come back cited the desire to take care of their aging parents and family as the top reason for wanting to return to the Philippines. This was followed by those (44%) who retained a strong emotional, social, and cultural connection to the country.
65% of overseas Filipinos surveyed shared that they considered the current economic situation as a factor when deciding whether to relocate back to the Philippines. 46% of respondents with a positive outlook on returning mentioned confidence in the Philippinesโ economic stability, growth prospects, and opportunities for entrepreneurship or business projects as encouraging factors for their desire to return.
Only one in three (30%) of overseas Filipinos have no intention of returning to the Philippines.
Challenging factors of returning home
Respondents show low confidence in the countryโs economic stability, with 38% expressing reluctance to return due to economic concerns. A significant majority of them (80%) believe that the economy is more stable overseas. Other factors contributing to this hesitancy included a more favourable salary-to-cost-of-living ratio abroad (60%) and better government initiatives and incentives in foreign countries that are provided (47%).
Salaries in the Philippines continue to be a significant concern with 75% of respondents hesitant to return emphasising the differences in compensation and benefits as a major issue, and 56% of them highlighting a lower standard of living conditions in the Philippines, based on public facilities, security concerns, and community resources.
Additionally, 33% of all respondents said they would only accept a Philippines compensation package that is market-aligned for their experience and the role being offered.
Alejandro highlights, โAs business priorities undergo continuous transformations, it becomes imperative to address the ongoing shortage of highly skilled talent in the country. Hiring managers should explore creative strategies to secure talent that aligns with their organisationโs needs. Through our Balik Bayan programme, we offer a solution to identify and secure Filipino talent returning from overseas, catering to specific timelines. We also provide support in managing candidate expectations, ensuring a seamless recruitment from start to finish. This program serves as a valuable resource connecting returning Filipino professionals with suitable job opportunities, aligning their skills with the needs of local businesses.โ
The poll was conducted among over 120 overseas Filipino professionals across various industries, including Banking & Financial Services, Information and Communication Technology, Consumer & Retail, Manufacturing, Digital and E-commerce.
To access the full survey, go toย https://www.robertwalters.com.ph/insights/hiring-advice/blog/mindset-of-overseas-filipinos-with-regards-to-moving-back.html.
For more information on Robert Walters in the Philippines, please visitย https://www.robertwalters.com.ph.
