Our very own Practice Head and Senior Consultant for Banking and Finance, Mr. Amable “Abey” Vicedo have been invited to discuss the Recruitment Trends in 2018 and Future of Work for the MBA students of University of the Philippines – Diliman. The event/talk was held at the Virata School of Business last February 7, 2018 and was attended by 18 MBA students.
Abey stressed the different factors affecting recruitment in 2018 such as candidate experience, the rise of Social Media and the death of Job portals, the rise of Executive Search Firms and the effects of Technology and Artificial Intelligence in the entire Recruitment and Talent Acquisition process. He also mentioned major recruitment trends for different industries particularly in Banking and Finance, Business Process Outsourcing/Shared Services, FMCG, Retail/Luxury, Industrial and Information Technology.
Specifically for Banking and Finance, Abey mentioned that there will be an increasing requirement for Middle Office and Back Office professionals and also an increase of hard to fill posts to include Risk Management and Compliance roles, Audit roles, KYC and AMLA roles. Another huge impact to this industry is the upcoming realization of the ASEAN integration in 2020. Hence, a strong talent competition among Local and Foreign Banks is highly anticipated.
For the Business Process Outsourcing/Shared Services industry, the major trends he talked about were decentralization of business hub from Manila to other cities particularly in the Vismin regions and the competition on talent from freelance and work-from-home opportunities. While in FMCG, Mergers and Acquisitions activities will affect hiring and recruitment activities. The Digital business/e-Commerce will dominate the Retail and Luxury business.
And for the Industrial industry, Abey put emphasis on the huge demands of Logistics and Manufacturing businesses. There will be limited talent pool for specialized roles for this industry. And another factor is the existing government policies on Energy which will largely affect renewable energy and mining companies. On the IT industry, Abey forecasted the Influx of tech giants will put a strain on the limited talent pool. To help the IT professionals be equipped, certifications and advanced studies will be sought after.
It was indeed an interesting and successful career talk. Choosing a career is one of the difficult stages in the life of a student. It is substantial for them to have an overview regarding the future of their respective careers and we at RGF are glad to be a part of this event.
By Jenny Grace Surio, Associate Consultant