Philippine workers top study on pay satisfaction

Employees in the Philippines topped a global survey of workers who consider themselves “fairly paid,” according to WorkL’s Global Workplace Report, with 79% of them expressing satisfaction with their compensation.

“Pay directly correlates with overall happiness and engagement and WorkL’s data shows that employees today are wanting more pay and greater flexibility in hours or home working — this has more than doubled between 2019 and 2024,” the London-based digital career development company said.

The pay workers receive monthly is not the only factor, it added. Others include flexibility, home/hybrid work, travel and childcare.

“This indicates that employees don’t just want more pay at the end of the month, but want the time they are working to be more valuable,” it said.

Apart from higher and fair pay, WorkL found that workers have a desire for more holidays, reduced work hours and minimized travel expenses.

“Respect is another common topic mentioned alongside pay, adding further evidence that there are multiple ways in which an employee feels recognized and valued beyond pay,” it said.

Workers in the Philippines also scored highest in flexibility (81%).

“Flexibility means many different things to different people, and while the largest volume of respondents did not offer specifics in terms of what flexibility means for them, there are some clear themes from those that did,” the study found.

Respondents are looking for more opportunities to work away from the office, especially when having to deal with childcare or car troubles, the study found, with this trend strongest in financial services and technology sectors.

The percentage of those seeking more flexibility increases with age, before beginning to decline again at age 65+, it said.

“This is most likely due to caring responsibilities increasing with age and then dropping off as children fly the nest,” it added.

WorkL also found that 73% of firms are currently not phasing out work-from-home contracts for new hires.

The same number of firms do not plan to bring workers back into the office, while 64% support government initiatives for flexible working.

Regarding the prospect of a 4-day work week, 82% of employers are against it. Half of the respondents report labor shortages and competition for skilled candidates, WorkL added.

“There is also a demand for training and issues with pay expectations,” it said.

Workers in the Philippines also topped the rankings in terms of believing that their employers care for their wellbeing, with 79%  giving such answers.

The study incorporates responses from 100 countries including the UK, Australia, Canada, the US, New Zealand, Ireland, the Philippines, South Africa and the United Arab Emirates. It was conducted between Jan. 1 and Sept. 30.

The data used in the report is from WorkL’s Happy At Work Test which includes crowdsourced employee experience data on over 400,000 individuals from over 100,000 organizations.

Global Workplace Report 2024

.pdf

Download PDF • 4.58MB

Source: Business World

Understanding the Rent Control Act in the Philippines

For anyone renting or planning to rent a property in the Philippines, understanding the Rent Control Act is crucial. This law aims to protect tenants from unreasonable rent increases while ensuring landlords can still fairly profit from their properties. Let’s break down the key aspects of this act to help both tenants and landlords navigate their rights and responsibilities. 

What is the Rent Control Act? 

The Rent Control Act of the Philippines refers to Republic Act No. 9653, also known as the "Rent Control Act of 2009", as extended by subsequent regulations. It governs rental pricing, increases, and disputes for residential units within specific rent ranges, particularly in urban areas. 

The law primarily covers: 

- Residential units with a monthly rent of up to ₱10,000 in Metro Manila. 

- Units with a monthly rent of up to ₱5,000 in other cities and municipalities. 

 Key Provisions 

1. Limit on Rent Increases 

   Landlords cannot increase rent by more than 7% annually for covered properties, provided the same tenant occupies the unit. 

2. Protection Against Eviction 

   Tenants cannot be evicted except under specific circumstances, such as: 

   - Non-payment of rent for three consecutive months. 

   - Subleasing without the landlord’s consent. 

   - The landlord needing the property for personal use or renovations. 

3. Advance Payments and Deposits 

   - Landlords are allowed to collect up to one-month advance rent and two months’ deposit. 

   - Deposits must be returned to the tenant upon moving out, minus any deductions for damages. 

4. Rental Contracts 

   Both tenants and landlords are encouraged to have a written rental agreement specifying the terms and conditions of the lease, including rent, duration, and responsibilities. 

 Who Benefits from the Rent Control Act? 

The act primarily benefits low- to middle-income families, students, and employees who rent affordable housing. It ensures they are not priced out of their homes due to sudden, excessive rent increases. 

 What the Rent Control Act Doesn’t Cover 

The Rent Control Act does not apply to: 

- Commercial properties. 

- Residential units rented out for over ₱10,000 per month in Metro Manila and ₱5,000 per month in other areas. 

- New leases not covered by existing agreements. 

 Recent Updates 

While RA 9653 officially expired, the Philippine government often extends similar provisions to address housing affordability. As of today, tenants and landlords should stay updated with the latest housing and rental policies implemented by the Housing and Land Use Regulatory Board (HLURB) or other government bodies. 

 Tips for Tenants 

- Always sign a written agreement and understand its terms before moving in. 

- Keep records of your payments and communications with your landlord. 

- Report any violations of the Rent Control Act to local housing authorities or barangay offices. 

 Tips for Landlords 

- Familiarize yourself with the Rent Control Act to avoid legal disputes. 

- Clearly communicate rental terms and increases with tenants in writing. 

- Maintain the property to ensure tenants receive value for their rent. 

 Final Thoughts 

The Rent Control Act is a critical safeguard for renters and a guide for landlords in managing rental properties. Whether you’re a tenant or landlord, understanding this law can foster a fair and harmonious rental relationship. 

Stay informed about changes to rental policies and consult legal or housing experts for specific concerns. After all, a well-informed rental community benefits everyone. 

Source: Zigguratrealestate.ph

European firms see growth in PHL trade, investment over next 4 years

Most European firms doing business in the Philippines are expecting trade and investment to increase in the next four years, according to a report by the European Chamber of Commerce of the Philippines (ECCP).

The ECCP, in its 2024 Business Sentiment Survey Report released, collected 150 responses from ECCP member companies between November and early December.

According to the report, 85% of the respondents said that they expect the level of their trade and investment to increase in the next four years.

Meanwhile, 11% expect no change, and 3% are projecting a decline.

Around 81% of the respondents also expressed plans to expand over the next four years, while 7% said they expect to contract.

According to the ECCP, 69% of the respondents cited the Philippine economic recovery and growth opportunities as factors behind expansion plans.

“This optimism is supported by the country’s strong economic fundamentals, including positive GDP growth in recent years and in the first three quarters of 2024,” the ECCP said.

Some 63% of the respondents also cited the stable government and political system as behind any expansion plans.

Some 64% of the companies surveyed said the Philippines has increased importance in terms of revenues in the last two years.

The survey also examined the Philippines’ attractiveness as an investment destination, supplier market, and end-user market over the last two years, with 59% saying conditions have generally improved compared to elsewhere in the region.

According to the report, respondents have an overall positive expectations for the Philippines over the next four years.

“They anticipate continued economic growth driven by initiatives such as public-private partnerships, robust private consumption, rising investment spending, a growing population, and improved infrastructure, among other factors,” it said.

“Respondents also expected foreign investments to come in with the passage of several economic liberalization laws, such as the amendments to the Public Services Act, Retail Trade Liberalization Act, and the Foreign Investment Act,” it added.

However, the report cited the need for the government to “adopt a more proactive approach” in addressing corruption, accelerating digitalization, and streamlining regulations.

In particular, 75% of the respondents cited significant barriers to investment and business activity in the Philippines.

“This suggests that addressing these obstacles is crucial for further economic growth and attracting foreign direct investment,” the report concluded.

Source: Business World