Employees in PH to Have 5.6% Pay Rise Survey Says

According to Willis Towers Watson’s (WTW) latest Salary Budget Planning Survey report, there is a projected 5.6% pay rise for employees in the Philippines this year as companies try to ride out the COVID-19 pandemic.

In 2020, the average pay rise was 5.5% — the lowest average salary increase in more than a decade compared to 2019 with an average of 6.0%.

“After a difficult year for employers and employees – battling lockdowns, employee safety issues, working from home and declining revenues – many employers are finding ways to handle the crisis better, manage their businesses, and help their employees with a more focused work and reward strategy,” said Patrick Marquina, Head of Talent and Rewards, Philippines, at WTW.

The survey projected that the number of companies implementing freeze pay is expected to decrease from 28% to 13% of companies this year, with 82.4% of companies expecting to conduct a salary review — compared to 2020 with 61%.

• Industries that are forecasted to make a pay rise are:
• Pharmaceutical and Health Sciences
• High Tech Electronics Manufacturing
• Business Support Services
• Business Process Outsourcing

These industries are predicted to have a 5% or more increase in their salary budget this year. (ASC)