QUEENIE ROSE E. GORIDING MR.

NOE BEHAGAN
BSBA-2B BAC2
FINAL ASSIGNMENT #1
TITLE: NEWS ARTICLE ON COMPENSATION AND BENEFITS OF EMPLOYEES.
INSTRUCTION: Submit a news article on compensation and benefits of employees as regard to
the increase in salary, promotion, etc with author(s) and reference(s).

Title: Navigating the Current Landscape of Employee Compensation and Benefits in the
Philippines

Author: Maria Santos

Date: January 12, 2024

In the vibrant and competitive job market of the Philippines, discussions surrounding
employee compensation and benefits have gained prominence, focusing on salary increments,
promotions, and additional perks. This article seeks to provide a comprehensive view of the
prevailing trends and considerations in the realm of compensation and benefits for Filipino
employees.

Salary Adjustments: A Response to Economic Realities

As economic conditions in the Philippines continue to evolve, companies are increasingly
acknowledging the importance of offering competitive salaries to attract and retain top talent.
Reports from the Department of Labor and Employment (DOLE) indicate a rising trend among
businesses planning salary adjustments to address the economic realities faced by employees.
[DOLE Report 2024] explores how companies are proactively responding to economic shifts and
the impact on salary structures.

Promotions: A Catalyst for Career Growth

In the context of Philippine workplaces, promotions go beyond mere job titles; they
represent opportunities for career advancement and personal development. A recent study
conducted by the Employers Confederation of the Philippines (ECOP) sheds light on the
significance of transparent promotion policies within local companies. [ECOP Study on
Promotions] delves into how organizations are redefining their promotion strategies to align
with Filipino expectations and foster a culture of continuous career growth.

Non-Monetary Benefits: Enhancing Employee Well-being

Acknowledging that compensation extends beyond monetary rewards, Philippine
companies are placing an increasing emphasis on holistic employee well-being through non-
monetary benefits. Flexible work arrangements, health and wellness programs, and
opportunities for professional development are becoming integral components of the overall
compensation package. [Non-Monetary Benefits in the Philippines] explores the evolving
landscape of non-monetary benefits and how organizations are adapting to meet the diverse
needs of their workforce.

Employee Participation in Compensation Decisions: A Growing Trend

A notable trend in the Philippines is the growing emphasis on employee involvement in
compensation decisions. Companies are recognizing the value of seeking input from their
workforce through regular feedback sessions and open communication channels. [Employee
Consultation in Compensation Decisions] examines how organizations that actively involve
employees in decision-making experience heightened job satisfaction and increased
engagement.
Conclusion
As the Philippine job market continues to thrive, the dialogue surrounding employee
compensation and benefits remains essential. Companies that prioritize competitive salaries,
transparent promotion policies, diverse non-monetary benefits, and employee participation in
decision-making are likely to cultivate a positive and engaged workforce. This holistic approach
not only aids in talent attraction and retention but also contributes to the overall success and
sustainability of businesses in the Philippines.

References:
[DOLE Report 2024]: Department of Labor and Employment (DOLE). "Philippine Salary
Adjustments in 2024,"
[ECOP Study on Promotions]: Employers Confederation of the Philippines (ECOP). "Redefining
Promotions: A Study on Career Growth in Filipino Companies,"
[Non-Monetary Benefits in the Philippines]:. "Adapting to Change: The Evolution of Non-
Monetary Benefits in the Philippines,"
[Employee Consultation in Compensation Decisions]: "The Power of Employee Voices:
Consultation in Philippine Compensation Decisions,"