Ready for more pointers on what the workforce really wants out of the opportunities in the job market? For part 2 of this series, here’s another sure-fire factor that attracts people to stay.
- CAREER-SEEKERS WANT COMPREHENSIVE EMPLOYEE BENEFITS.
In the Philippines, employee and employer contributions are properly made up not only of tax deductions from salaries, but also portions for the three major statutory benefits provided by government and national agencies: coverage under the Philippines’ Social Security System, the Philhealth national healthcare assistance program, and the Home Development Mutual Fund or Pag-IBIG. These are mandatory for formal employment in private organizations*, though certain employment schemes such as contractualization (in illegal forms) have enabled fraudulent companies to avoid remitting contributions to the agencies responsible for these benefits.
Other forms of benefits can exist as privileges provided by employers such as enrolment in healthcare discount programs, private personal insurance, access to wellness and recreational facilities (gyms and game rooms), safe work transport services (shuttles) and others which may be specific to the company in question. Sadly, there are only a select number of upright organizations that provide some or all of these additional employee benefits. Most other companies ignore the roles of these privileges in promoting employee satisfaction.
In both cases, proper remittance of contributions for statutory benefits and strategic provision of sustainable privileges for employees will positively reflect on a company’s reputation, both within and outside. Existing employees will be encouraged to stay, and potential hires will be more tempted to try for any vacant positions.
The existence and consistent implementation of an effective benefits package is one of the things that attracts career-seekers the most, and that can help organizations stay on top of their game by providing additional reasons for capable, experienced and passionate employees to stay.
*in the case of government jobs, the Government Service Insurance System replaces the Social Security System for the purposes of financial security and insurance