Compensation along with benefits and skills to support employees are among the key factors that will aid in the recovery of businesses in the country.
Teng Alday, Mercer CEO for the Philippines said firms must take advantage of the current pandemic to introduce programs and tools to support workers adapt flexible work arrangements and build new capabilities and skills.
“The future of work is going to be hybrid and post-pandemic work practices will also require offices to be set up differently to cater to local regulations and different work structures,” Alday explained.
“Investing in the workforce across compensation, benefits and skills to support the new shape of work, will be critical for businesses in their road to recovery,” he added.
Latest survey result from Mercer showed more than half or 55 percent of employers in the country intend to implement a hybrid work model — with employees expected in the office between on and four days a week.
Mercer career business leader for the Philippines, Floriza Molon said firms are likely to remain prudent in terms of workforce expansion, considering the effects of the pandemic.
“We see companies exercising greater prudence around recruitment in the short term, with their immediate priority being keeping their businesses afloat,” Molon said.
“Until the pandemic situation stabilizes and granular lockdowns are lifted, jobs and livelihoods in the country will continue to be affected,” she added.