In the face of inflation and a tight labour market, a recent report reveals that employers in the Philippines are increasingly adopting flexible work arrangements and offering bonuses to retain employees.
The Global Talent Trends (GTT) Study 2023 by Mercer found that 74% of organisations surveyed in the country have implemented flexible working options for all employees, much higher than the 50% and 56% recorded across Asia and worldwide, respectively.
Additionally, 48% of employers are using bonuses instead of base salary to enhance their employees’ total compensation package, while 35% are adjusting the entire workforce.
The report also highlighted that Philippine employers are performing better in supporting employee mental health and encouraging upskilling but lag behind in offering adequate job security for gig or freelance workers and leveraging AI and technology for skills assessment and talent development.
