Many local businesses were able to extend support—in terms of health, financial and work arrangements—to their employees amid the pandemic, and had even retained or added workers despite the decline in their earnings.
In a survey conducted by the Management Association of the Philippines (MAP), Institute of Corporate Directors and Makati Business Club (MBC), company executives said health support for regular employees is the top priority for them, with 68 percent affirming the sentiment.
Their health support includes free vaccine; free or subsidized testing, treatment and medicines; and provision of personal protective equipment.
In terms of financial assistance, 43 percent said they extended advances and loans while below 10 percent provided specific allowances (work-from-home subsidy, hazard pay) and quarantine leaves, among others. Meanwhile, 45 percent said they continued to pay non-reporting employees.
Some 18 percent allowed the shift to part-time work while 10 percent provided support for their employees’ work-from-home arrangement.
In-kind assistance, meanwhile, includes transportation, meal and accommodation.
Some companies were also able to provide the same support for their contractual and agency employees.
“The survey results show that Philippine business, in this pandemic, is a caring, nurturing and compassionate sector in our society,” said Rex Drilon, chairman of MAP’s Shared Prosperity subcommittee.
While 61 percent of the respondents experienced a decline in earnings, 55 percent said they kept or even increased the number of their employees.
“A key objective of businesses is to create jobs and in a crisis like this, businesses’ top priority is to protect jobs and the health and safety of our people,” MBC Chairman Edgar Chua said. “I’m extremely proud to say that businesses are fulfilling that commitment during this crisis.”
Assistance to clients
A third of the respondents said they provided support to their suppliers and contractors while more than half extended assistance to their clients and customers.
About half of the companies gave support in terms of payment obligations, including advanced payments. They also provided material, logistical and other operational support, in addition to transportation and accommodation arrangements.
Some 10 percent also extended financial assistance (advances, loans) and health and wellness support.
For the clients, 58 percent extended payment terms while 20 percent waived payments and rental fees.
Nearly 40 percent offered discounts. Only 4 percent waived fees and other requirements.
Majority, or 73 percent, also provided support for healthcare workers, including provision of PPE; medical, testing, quarantine/isolation facilities; meals and accommodations; and other donations.
Over 70 percent also held donation drives for low-income communities amid the pandemic.
“Companies tend to partner with existing charities, foundations or projects in providing support for low-income communities and other groups,” the report said.
Other findings
About 85 percent said work-from-home and flexible work arrangements are here to stay.
Meanwhile, 65 percent said they need to assist in the procurement of more Covid-19 doses. Some 41 percent said they must be involved in vaccine administrations.
“Regardless of financial performance during the pandemic, businesses still found different ways to help different stakeholders,” the report said. “Majority of the actions taken are intended to give assistance to the stakeholders or at the very least allow them to continue to function.”
The survey has 200 respondents from 178 companies and 34 business groups.