Income Sharing Compensation Program
In early 2020, the new Covid-19 pandemic came suddenly and more than a year had already passed. The Philippines experienced a nationwide lockdown that started March 2020 and lasted until mid-May 2020. All establishments were forced to close, and people start losing their jobs or source of income.
In this tough and critical situation, the employees adjusted from the initial fear of getting the virus to an adaptation of the “new normal”, and still striving to carry out a good performance under difficult circumstances. Throughout the past time, we have been actively responsible, fulfilling our responsibilities, watching, and helping each other, overcoming difficulties together, and persisting in fighting the first-line market. The company expresses its gratitude and appreciation to everyone that still stays together with the company.
During the two-month period of the difficult nationwide lockdown, the company did not have any income, but necessary expenses such as rentals, and employee subsidies could not be avoided. Salaries of employees were paid normally without any form of reduction or suspension. After the country’s lockdown was lifted, the unemployment rate of the people increased sharply, and spending power declined significantly. Most industries are facing a precarious situation. The company’s overall revenue drop and the average single-store sales fell below 20 units. After the task volume has been adjusted, the overall completion rate was around 50%. However, the proportion of related costs did not decrease but increased, and the average single unit average the cost of sales has reached around 12,000. However, due to objective circumstances, the performance is not good, the stores have little profit, and a large part of the stores even have negative profits. So far, most of the stores are in a state of loss. According to the current economic situation, it is expected to continue for some time. So far, the company has made every effort to protect the safety and interests of colleagues and will not affect everyone's vested interests due to the company's difficulties.
The company is not yet in its best condition, there are still improvements to be made, but we try our best to face and conquer the challenges this pandemic had been giving us. As the company strives to stay in operation, we also make sure that our employees are doing okay. Since the start of this pandemic, we offer financial assistance to all employees who are having a hard time and more than hundreds of employees were able to receive the assistance. To help our employees, we offer different ways for them to get additional income like the off duty allowance wherein while they are off duty due to the flexible work arrangement, they will receive a daily allowance. In addition to that, we also conduct online exams and also give them opportunities to post online promotions on social media to have another source of additional income. The company made sure that the employees are able to receive help from us to survive this situation. It’s been a long time since this pandemic start, most of the companies decided to close or stop operating due to the financial loss of their businesses. Even other large companies have to reduce the number of their employees to lessen the expenses and continue operating but this company never thinks of doing that way. Regardless of the loss or negative profit of some of the branches, we were still thinking and prioritizing our responsibility to our employees and our customers.
Good News!!!
Considering the reduction in everyone's income during the pandemic, the company decided to share its income after the pandemic to ensure that everyone's overall income does not decrease. It has formulated a policy of additional subsidies and commission ratio adjustments for employees who adhere to positions during the pandemic.
Income-sharing is an incentive compensation program that awards employees a percentage of the company’s income. The amount awarded is based on the company’s earnings after the pandemic.
The profit is the result of the hard work of each person involved with the company. The management is delighted to share the company’s income with the employees. This will be distributed among the employees.
In this period, the company is especially grateful to the employees who stick to the front line, for being able to face the difficulties, regardless of income reduction, regardless of personal gains and losses and overcome difficulties with the company. At the same time, this difficulty will continue for a long time. The company calls on everyone to continue to maintain this good style, to understand each other more, to take an active role, not to be afraid of risks, and to tide over the difficulties together!
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0969-580-8089
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