Resignation is the top unemployment reason in PH in 2021
Resignation was the top reason for unemployment in the Philippines in 2021, according to the Department of Labor and Employment (DOLE).
In its survey titled “Mission: Rebooting Economic Activities through Community Engagement (RACE) program,” DOLE said that 85,045 of the over 2.39 million unemployed workers resigned from their work last year.
Meanwhile, Metro Manila’s labor turnover rate — which refers to the difference between hiring and the rate of job termination or resignation — has implied negative growth in employment in the first half of 2021.
In a report by The Manila Times, these figures are all part of the aftereffects of the “Great Resignation across the Asia Pacific and Japan (APJ) region.
A study released by software company SAP SE revealed that 4 in 10 employers saw more employees resigning now than 12 months ago. At the same time, 64% of small and medium-sized enterprises (SMEs) are having difficulties in coping with the impact of the Great Resignation.
According to the study, the lack of skilled talents also ranks as the top challenge to achieving successful transformation for SMEs across APJ. It topped traditional obstacles, such as cybersecurity, lack of budget, and lack of understanding of available digital solutions.
To alleviate this dilemma, 43% of SMEs revealed that they are strengthening their financial incentives while another 43% are introducing flexible arrangements to their workforce.
SMEs in the region also focused on training, with 4 in 10 (40 percent) respondents providing upskilling opportunities to retain key talents in their organizations.
