SEC gets freer hand in hiring following CSC award
‘If we want an SEC that is efficient, innovative, and trusted by the public, we must continue to improve our HR systems and attract the best talents, develop our people, recognize excellence and provide opportunities for growth based on merit.’
The Securities and Exchange Commission (SEC) gets greater flexibility in hiring and managing its workforce after becoming the first national government agency to receive the Civil Service Commission’s (CSC) Program to Institutionalize Meritocracy and Excellence in Human Resource Management (PRIME-HRM) Silver Award.
The regulator said Thursday that the recognition grants the market regulator deregulated status.
It allows the agency to establish and implement its own human resource mechanisms without prior approval from the CSC and to approve appointments subject to post-audit.
Investment in the future
“This recognition is more than a badge of excellence; it is an investment in the future of the SEC. With deregulated status, the Commission gains greater administrative and operational flexibility, enabling us to innovate, move faster, and serve the public more effectively,” SEC chairperson Francis Lim said.
The SEC received the award after attaining PRIME-HRM Maturity Level III in 2024, indicating its human resource systems are integrated and aligned with global standards.
The Commission was previously granted the PRIME-HRM Bronze Award in 2023.
The PRIME-HRM program assesses government agencies’ human resource systems in recruitment, selection, and placement; learning and development; performance management; and rewards and recognition through evaluations conducted by the CSC’s regional and central offices.
Continue to improve HR systems
“If we want an SEC that is efficient, innovative, and trusted by the public, we must continue to improve our HR systems and attract the best talents, develop our people, recognize excellence, and provide opportunities for growth based on merit,” he said.
Separately, the SEC said it has continued to receive recognition for its workplace practices.
Last year, it became the first agency in the government financial sector and the third national government agency to receive Silver accreditation from Investors in People for promoting employee welfare. It also received awards for wellbeing and diversity from the same institution that year.