The Philippine Chamber of Commerce and Industry (PCCI) said on Thursday, July 4, that the wage increase for workers in Metro Manila is deemed “reasonable.”
However, Enunina V. Mangio, PCCI president, said in a statement that the P35 wage hike is also causing concerns for their members striving to survive and sustain their businesses.
But despite the negative implications, Mangio assured that employers are committed to fully complying with the new minimum wage set by the Regional Tripartite and Productivity Wage Boards.
“It’s a decision made by the wage board, we will respect and follow that. On the part of PCCI, we will monitor and evaluate its impact on our micro and small enterprises that we consider the backbone of our economy,” Mangio said.
While recognizing the government's efforts to improve wage levels in the country, Mangio said it is also crucial to consider the impact on businesses, especially small businesses, that will need to adapt to increased labor costs.
Still, Mangio said the approved wage hike is deemed fair, especially when compared to the initially proposed P100 raise, which was excessive for employers and could potentially result in business closures and job losses.
According to the Philippine Statistics Authority (PSA), small enterprises typically employ 10 to 99 workers, while medium-sized enterprises have a workforce of 100 to 199 employees.
“I believe it’s a win-win decision for both employers and workers. We also recognize how inflation is affecting all of us,” she added.
Emphasizing the significance of fostering continuous and collaborative dialogue among all stakeholders, Mangio highlighted the need for constructive engagement to achieve fair and sustainable economic growth for everyone.