In a recent briefing, Joey Concepcion, the head of the Private Sector Advisory Council for jobs and founder of Go Negosyo, shared his suggestion for a staggered implementation of the proposed P100 wage hike in the Philippines. Concepcion emphasized that not all businesses can afford to increase the salaries of their employees and that a staggered approach would be more feasible.
Concepcion acknowledged that larger corporations that are doing well might be able to afford the P100 wage increase. However, he expressed concern for medium-sized entrepreneurs who may struggle with the sudden increase. He also raised the question of how micro-entrepreneurs would be affected by the wage hike.
While Concepcion recognized the potential positive impact of wage increases on consumption spending and the overall economy, he proposed spreading the implementation of the P100 wage hike over a period of time. This approach would help mitigate the potential negative effects on businesses that are still in the process of growing.
It is important to note that Concepcion is not against wage increases. He believes in uplifting the lives of the Filipino people, especially those who are currently living at or below the poverty level. However, he advocates for a careful and strategic approach to ensure that businesses are not negatively impacted.
The proposed P100 wage increase was unanimously approved by senators on February 19 through Senate Bill 2534. If implemented, this would be the first legislated wage hike in the Philippines since 1989.
In addition to the wage increase, Concepcion emphasized the importance of reskilling and upskilling workers to create more job opportunities and higher-paying positions. He believes that by acquiring new skills, employees can move up the career ladder and earn better wages.
Concepcion’s goal, through Go Negosyo, is to find ways to support the upskilling and reskilling of employees. By doing so, he hopes to empower workers to receive higher pay in the long run. He believes that investing in the development of employees’ skills is crucial for their personal growth and for the overall economic progress of the country.
In conclusion, Joey Concepcion suggests a staggered implementation of the proposed P100 wage hike in the Philippines. He recognizes the financial constraints that some businesses may face and proposes spreading the increase over time. While advocating for higher wages, Concepcion also emphasizes the importance of reskilling and upskilling workers to create better job opportunities and higher-paying positions. By taking a strategic approach to wage increases and investing in employee development, Concepcion aims to uplift the lives of the Filipino people and support the growth of the economy.
Source: The Manila Times
