Technology and customization drive Philippine benefit trends

Highlights from the 2021/2022 Benefit Trends Survey — Philippines

Philippine employers are getting more strategic around benefits

• 76% of employers plan to customize their benefits strategy in the next two years, compared to 36% today

Wellbeing, flexibility and technology are the top strategic benefits objectives for employers

• Focus on integrating wellbeing into the benefits package: 80%
• Increase flexibility and choice: 53%
• Enhance tools and technology to support employees when choosing and using benefits: 49%

Complex external factors weigh in on benefits strategy

#1 Tight labor markets (67%)
#2 Increased remote working (57%)
#3 Advances in technology for benefits (56%)
#4 Increased focus on inclusion and diversity (56%)
#5 Increased focus on ESG (environmental, social and corporate governance) (51%)

Diversity, equity and inclusion top the list of influences globally.

The percentages above comprise those who said these were external influences to a great or very great extent.

Philippine employers measure improvements in wellbeing as the most critical benefits outcome

• 60%: Improved employee wellbeing (physically thriving, emotionally balanced, socially connected and financially secure)
• 55%: Improved employee retention
• 52%: Improved employee experience (engagement with employees, how they use their benefits)

Key considerations for employers

• Adopt a digital strategy
  9 in 10 employers plan to have an enhanced digital strategy in the next two years. Don’t get left behind—take action now and adjust as needed.
• Innovate
  Wellbeing, inclusion and diversity—benefits are becoming broader and more inclusive. What does that mean for your organization?
• Listen and communicate
  Stress and the impact of remote working are taking a toll on your workforce. With a listening strategy, you can be more confident that your programs are making the intended impact on your employees.

About the survey: Philippine findings are based on responses from 154 employers representing 646,000 employees in the country. The survey was conducted between May 10 and June 25, 2021.