Career Cushioning: Nearly one in two professionals plan to line up a "Plan B" job

By prixbanzon on July 24, 2024

Career Cushioning: Nearly one in two professionals plan to line up a "Plan B" job

49% of professionals polled have already started looking for new jobs
74% of professionals strongly believe that career cushioning will help them in getting their next job
Misalignment with the office culture and low job satisfaction are top reasons for embarking on a job search

Manila, Philippines, 24 July 2024 – With nearly one in two professionals in the Philippines looking to change jobs, 74% strongly believe that career cushioning can be beneficial in fast-tracking their job search. This is one of the key insights from global talent solutions firm Robert Walters, who sees career cushioning as a growing trend, in markets including the Philippines, for professionals looking to advance their careers.

Career cushioning refers to the process of being proactive about one's career prospects to "soften the blow" should anything go wrong with one's current job. The strategy, which includes the professionals taking the initiative to acquire relevant and new skills, knowledge and experiences while in a role, aims to help them adapt to job market uncertainties and industry disruptions.

"Professionals must recognise the crucial need to continually upskill themselves. By actively investing in their learning and development, they not only increase their market value but also gain new experiences and expertise. This approach ensures that they remain ready and adaptable in the face of a rapidly evolving business landscape," said Michele Manabat, Manager of Robert Walters Philippines.

A Robert Walters poll conducted for Filipino professionals revealed these key findings:

Motivations for employees to start searching for their next job include an unhealthy office culture (44%), and low job satisfaction (32%).
The most popular career cushioning tactic is upskilling/training (65%).

"The post-pandemic era has brought about significant shifts in organisational strategies, including the adoption of ESG practices, advancements in technology, and the emergence of AI. This resulted to a growing demand for professionals with niche skillsets. The trend of "career cushioning" has emerged as a way for individuals to personally develop themselves, either to become more valuable assets to their current companies or to gain a competitive advantage in the job market," said Michele.

Companies offering career cushioning to improve talent retention

Companies are generally positive to career cushioning strategies, with 57% of employers polled seeing it as a means for their staff to advance professionally, followed by fostering new ideas to the firm. To effectively implement this, areas where companies can act on include open communication with employees, encouraging them to discuss their aspirations, concerns, and preferred career pathways, investing in employee development through upskilling programs, and creating a culture that embraces employee mobility which allows employees to explore new roles within the organisation.

"While there is no guarantee that those who "career cushion" will leave, the impact of this strategy goes far beyond retention. By offering career cushioning strategies, companies not only enhance engagement and commitment among their existing employees, but also create a support environment for continuous growth and increased marketability," added Michele. (PR)