EMPLOYEE engagement levels in the Philippines rose by six points to 71%, according to a new report from Aon, a global professional services firm that provides a range of risk, retirement and health solutions.
Philippines’ increase is significant when compared to the nine-point drop it experienced last year. According to Aon research, improving engagement pays dividends. A five-point increase in employee engagement is linked to a three-point increase in revenue growth in the subsequent year.
Overall employee engagement score for the Philippines is higher than key Asia Pacific economies including China (69%), Thailand (64%), Malaysia (63%), Australia (60%), and Singapore (59%).
TOP ENGAGEMENT DRIVERS
The Aon study found that “Talent and Staffing” and “Empowerment and Autonomy” top the list of engagement drivers in the Philippines. “Talent and Staffing” refers to talent attraction and retention practices of an organization, as well as its ability to allocate appropriate and adequate resources to get the job done. This is important as it may impact the quality of work produced, and directly affect employees’ experience of work-life balance and their sense of achievement.
In addition, Filipino employees seek organizations that provide flexibility for them to plan and take decisions to best complete their work.
The top five engagement opportunities in the Philippines are as follows: Talent and Staffing; Empowerment and Autonomy; Rewards and Recognition; Career and Development; Senior Leadership.
The Philippines is home to one of the world’s youngest employee populations, with half of its citizens below 34 years of age.
While 75% of millennials feel that their organization actively supports the learning and development of its employees, only 53% report being fairly paid compared to other employees in the same roles in their organization. Moreover, only 58% feel they are recognized (beyond pay) for their contributions in the organization.
Prashant Chadha, Aon managing director for Malaysia and the Philippines, says: “The jump in engagement level is a result of the continuing efforts of leading organizations in creating a holistic employee experience across generations. This includes investments in health and well-being programs. However, rapid digitization and the increasing number of millennial employees indicate an urgent need for employers to transform their people practices. Filipino companies must invest in ‘continuous listening’ and act on feedback quickly. At the same time, they must select top talent who are ‘wired for engagement’ by using sophisticated assessment tools.”