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july30.2013_bAnnual productivity incentive bonus for private sector workers sought

july30.2013_bAnnual productivity incentive bonus for private sector workers sought

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Annual productivity incentive bonus for private sector workers sought
Annual productivity incentive bonus for private sector workers sought

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Published by: pribhor2 on Jul 30, 2013
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07/30/2013

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Annual productivity incentive bonus for private sector workers sought
The proposed grant of an annual productivity incentive to all workers in the privatesector is one of the vital measures awaiting consideration by the 16
th
Congress.“Since the labor sector is a primary social economic force, the State is mandated bythe Constitution to protect the rights of workers and promote their welfare,” CamarinesSur Rep. Diosdado Macapagal Arroyo and Pampanga Rep. Gloria Macapagal-Arroyo,authors of HB 1376, stressed.The Constitution states that “the State shall regulate the relations between workersand employers, recognizing the right of labor to its just share in the fruits of productionand the right of enterprises to reasonable return on investments, and to its expansion of itsgrowth.”In filing the measure, the Arroyos noted that current labor and managementrelations are characterized in general as confrontational when discussing and settling basicand significant issues affecting wages.“As a result, the productivity expected both from labor and management suffers andresults in a lower level of competitiveness which threatens survival of an enterprise,” theysaid.The younger Arroyo said the bill granting “Productivity Incentive Bonuses” tolaborers in the private sector is a recognition of their indispensable contribution to thesuccess of business enterprises.“Likewise, it seeks to promote and provide measures for the mutual benefit andindustrial harmony between labor and management,” he said.Workers’ rights to uplift and improve their lives as well as management’s rights to areasonable return on their investments are satisfied through their cooperative endeavors,”the Pampanga lawmaker said.The bill states that “all workers in the private sector regardless of their employmentstatus and not excluded by this Act shall be granted an annual productivity incentive bonuswhich shall be equivalent to not less than ten percent (10%) of net profits before taxesgained by any company or business establishment for every fiscal year that engages labor,skills and expertise for any period or duration, provided that they have worked for at leastone month during the calendar year.”
NR # 3180BJULY 30, 2013

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