‘Great Resignation’ continues in Cebu BPOs

CEBU, Philippines —  Despite its attractive salary package, the Business Process Outsourcing (BPO) industry in Cebu remains to suffer high resignation rates among industries.

Latest job market survey revealed that of the 4,500 Cebu-based respondents, 40 percent who are working in the BPO sector are planning to leave their jobs.

“During the height of the pandemic, the BPO sector emerged as the only employment option for many workers. However, now that other industries have regained stability, many employees are looking into the option of returning to their previous professions, leaving potential vacancies in the BPO industry.” said Wesley Chiongbian, CEO of Mynimo.com.

According to Mynimo’s latest job market survey, which forms part of Mynimo's 2023 Cebu Salary Report, 43 percent of workers, or two out of five employees, in Cebu plan to resign from their jobs soon. This is slightly higher than the figure recorded last year.

This means that Cebu may find its workers walking away from their jobs in the next 90 days.

The Great Resignation is a term coined to describe a growing trend of employees quitting their jobs ushered in by the COVID-19 pandemic.

This year’s results are not as surprising, with the 2022 survey already showing 42 percent of Cebu-based workers wanting to leave their jobs.

The top factor cited by employees planning to leave their current workplace is being “underpaid.” When employees feel their compensation doesn't match their skills, effort, and time, it can hurt their morale, motivation, and productivity. Furthermore, the lack of a fair salary can lead to financial hardships, causing stress and anxiety among employees and encouraging them to seek better employment elsewhere.

Apart from being underpaid, the "lack of company benefits" is the second primary reason employees plan to leave their jobs. Company benefits are positive indicators of how much a company values its employees’ well-being. However, without it, it can lead to employees feeling undervalued and unappreciated, which could impact their motivation and ultimately lead to resignations.

Feeling “undervalued" is another issue that leads workers to resign from their jobs. Feeling undervalued can stem from various factors, such as lack of feedback, little to no recognition, or not being acknowledged. In some cases, employees may feel their work is being taken for granted, the survey revealed.

Having "limited growth at the company" is also a major pain point for employees.

According to Cebuano respondents, the lack of growth opportunities may make them feel stagnant in their roles and unable to contribute to significant projects or directly impact the company’s growth.

Furthermore, the study shows that Cebu-based workers seek job opportunities that provide growth and development, not merely a source of income.

Lastly, the absence of a work-life balance continues to contribute to many workers' resignations. Many employees complain about working long hours, leading to burnout, poor performance, and dissatisfaction.

With this data, Mynimo sees Cebu's “Great Resignation” shows no signs of slowing down unless companies make drastic changes to address their employees' concerns. Otherwise, Cebu-based employers risk losing more of their top talent to competitors, ultimately hurting their competitiveness and profitability.