Jobstreet by SEEK: Hiring mistakes can be costly for MSMEs

Employees are the backbone of every organization, especially for Philippine micro, small, and medium enterprises (MSMEs). Essentially, hiring talent is a make-or-break step for businesses, and a single hiring mistake can cost an average of Php 740,000, which can have significant and costly consequences for MSMEs that rely heavily on limited resources.

As part of its advocacy to empower MSMEs, Jobstreet by SEEK, a leading online job portal, equips hirers from small businesses to leverage available tools and its pool of talent that best matches their needs.

In a recent joint study by the Department of Trade and Industry (DTI) and Boston Consulting Group (BCG), hiring remains largely informal among Philippine MSMEs. They rely on low-cost, informal channels to recruit new employees – primarily walk-in applicants, social media, and referrals. By contrast, formal recruitment avenues are used far less often: hiring through employment programs, online job portals, school/university partnerships, and local agencies or print advertisements.

Apart from candidate mismatches and talent limitations, what hirers often overlook with informal hiring is fraudulent applications – fake degrees, experience, credentials, and so on. It is projected that by 2028, one out of four applications could be fake.

“Fraudulent hires have always been a challenge to many companies ever since, and it hurts businesses, especially MSMEs that operate on limited resources. We encourage hirers to leverage professional employment channels, free and easy-to-use job platforms with wider talent pools to minimize the risks of hiring mismatched candidates, or worse, fraudulent applicants,” shared Dannah Majarocon, Managing Director of Jobstreet by SEEK.

Building winning teams from the ground up

Empowering businesses that have started from the ground up, the platform rolled out its SMEasy sa Jobstreet campaign, providing avenues for MSMEs to learn actionable insights and practical strategies apart from its user-friendly tools that make hiring much more convenient.

SMEasy Sa Jobstreet also features real stories from Filipino entrepreneurs who have strengthened their teams through smarter hiring. Featured business owners include Jas Marfil of Crusted Pizza; Eduard Lumbre of SmarTrade; Edgardo and Edgar Jireh Cerezo of Bona Vita Philippines; Jethro Cerezo of Jethro Cerezo Executive Team; Terrie Cerezo of Nanay Asa Restaurant; and Kay and Carl of 1919 Chocolate.

As hands-on entrepreneurs, they all share how using the Jobstreet by SEEK platform helped them screen and connect with candidates who not only had the right qualifications but also aligned with their company’s culture and long-term vision, helping them build stronger teams and support sustainable business growth.

“Getting the right people is crucial because they are the make-or-break of the business. Jobstreet by SEEK is a big help for us as an organization since mabilis lang makahanap ng quality or right people from the platform, and that makes us become a better business,” said Jethro Cerezo, CEO & Founder of Jethro Cerezo Executive Team.

To learn more about Jobstreet by SEEK and the winning stories of their partner SMEs, visit this link.

Stay tuned for more SMEasy Sa Jobstreet success stories as Jobstreet by SEEK continues to champion MSMEs and the people who help them grow. For updates, follow @JobstreetPH on Facebook, @jobstreetph on Instagram, and @jobstreet.philippines on TikTok, and subscribe to Jobstreet by SEEK Philippines Official on YouTube for more inspiring stories.