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WORKERS SHOULD GET THEIR DUE SHARE OF COMPANY PROFITS -- PIMENTEL Senate Minority Leader Aquilino Pimentel Jr. (PDP-Laban) today urged profitable business firms in the private sector to take the initiative for raising the compensation of their workers without waiting for the wage hike order of the government. Pimentel said employers should be socially responsible to share the profits of their business operations with their workers especially at this time when the value of their take-home pay continues to be eroded by the spiraling prices of rice, oil and other essential commodities. “It would be unconscionable on the part of employers to deny to their workers a just and equitable share of the profits of their companies during these difficult times when they can hardly cope with the rising cost of living,” he said. “By granting to workers a pay hike that is reasonable, commensurate to their performance and within the financial capability of the company, the employers will help enhance the atmosphere for industrial peace and harmony and for greater productivity.” The senator from Mindanao said the voluntary upward adjustment of workers’ benefits should be practiced especially by establishments where workers are not unionized and therefore are not in a position to engage in a collective bargaining agreement with employers. The statement was issued by Pimentel in the wake of the failure of the Tripartite Regional Wage and Productivity Boards in all regions to decide on the petitions of workers’ federations for a new round of wage hike in time for the May 1 Labor Day celebration despite a presidential directive to fast track the resolution of the petitions. Congress was also unable to approve the final version of the bill exempting minimum wage earners from the individual income tax. Pimentel deplored that the non-approval of the wage hike and the income tax exemption has only deepened the frustration and resentment of workers who have looked forward to the enjoyment of these benefits as they observe Labor Day today. He said that while private sector workers are waiting for the decision of the wage boards, employers should at least find ways to give them non-wage benefits to enable them to tide over present economic difficulties. The non-wage benefits can be in the form of rice rations, groceries, tuition fee subsidy or transportation allowance. Pimentel said it is encouraging to note that the Employers Confederation of the Philippines and Philippine Chamber of Commerce and Industry have expressed support for an increase in the minimum wage even if a great number of their member-employers have been hit by a business slump. “There is a strong demand for workers all over the nation for an increase in their wage. Of course, this matter is not as simple as it sounds because obviously, we have to consider not only the needs of the workers but also the requirements for capital by their employers to continue running their business reasonably under the circumstances that the country finds itself,” Pimentel said. “Among other things, the sudden increase of wages of the workers without having been factored into the company’s determination of the cost of business operations would impact adversely on their capability to continue their businesses. Pimentel also requested the Senate Committee on Labor and Employment to look into the situation “so that we can more or less come up with a reasonable response to the needs of the working man and at the same time the overall needs of an environment that is friendly to business.” Date: May 1, 2008 |
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