Survey reveals that 62% of OFWs intend to return home in 5 years
Majority of OFWs intend to return home in the next five years | Photo by Oleksandr P on Pexels
In a recent survey conducted by recruiter Robert Walters, it has been revealed that an increasing number of overseas Filipino workers (OFWs), totaling 62 percent, intend to return to the Philippines within the next five years.
This figure represents a rise from 2021 when 54 percent of respondents were contemplating coming back to the country.
The survey gathered insights from over 120 overseas Filipino professionals across various industries, including banking and financial services, information and communication technology, consumer and retail, manufacturing, digital, and e-commerce.
While the desire to return home is increasing, concerns about compensation and benefits disparities and a perceived lower standard of living in the Philippines create hesitancy among professionals.
The desire to return is driven by wanting to be closer to aging parents and family (56 percent), and a strong emotional, social, and cultural connection to the Philippines (44 percent). Additionally, 65 percent consider the country’s current economic situation when deciding to return.
On the flip side, 30 percent have no intention of returning due to concerns about economic stability, with 38 percent expressing reluctance due to economic concerns, and 80 percent believing that the economy is more stable overseas.
Factors like a more favorable salary-to-cost-of-living ratio abroad (60 percent) and better government initiatives and incentives in foreign countries (47 percent) contributed to hesitation.
While the desire to return home is increasing, concerns about compensation and benefits disparities and a perceived lower standard of living in the Philippines create hesitancy among professionals
Salaries in the Philippines remain a significant concern for the returning professionals, with 75 percent emphasizing differences in compensation and benefits. Over half (56 percent) highlight the lower standard of living conditions as a barrier, too.
Robert Walters Philippines director Alejandro Perez-Higuero sees the growing number of overseas Filipino professionals returning as a valuable opportunity for local employers.
These returning professionals often bring enhanced technical skills and a more adaptable mindset, honed through their international experiences. Perez-Higuero suggests that hiring managers explore creative strategies to secure talent that aligns with their organization’s needs as the desire to return home presents a unique opportunity for organizations to tap into this skilled talent pool.
