These Are the Top Priorities for Philippine Firms, According to Study
There's no doubt that COVID-19 has changed how companies operate. But, how exactly? A new study by human resources consulting firm Mercer reveals what Philippine firms are focusing on when it comes to financial impact and work-life disruption.
The top priorities of employers in the Philippines are workforce restructuring (47 percent), active reskilling in 2021 (35 percent), and enhancing employee experience (34 percent).
"Most companies are now working towards adopting a more flexible business model to gain competitive advantage," says Mercer's Career Business Leader for Philippines Floriza Molon. "Looking at work and people through a skills lens will be critical going forward as it enables companies to act quickly and flexibly in the face of disruption."
She adds, "Deciding whether to buy or develop a skill in-house, for example, depends on knowing what skills you have in your organization today and what you need in future—knowledge that separates companies that can rapidly flow talent toward demand and those that cannot.”
While Mercer CEO for the Philippines Teng Alday says that companies that prioritize better employee experiences are poised for better success through the pandemic.
Molon continues, "However, for skills-based talent strategies to work, employees need to see that learning new skills leads to tangible rewards, recognition or promotion—an area where Philippine companies can do better in, given that only one in 10 plan to reward skill acquisition."