Company Benefits December 2009
Content
COMPANY BENEFITS
WHAT YOU CAN EXPECT AS AN EMPLOYEE EMPLOYMENT STATUS PROMOTION AND SALARY ADMINISTRATION 1. 2. 3. 4. Performance Evaluation System Mechanics of the System Frequency of Evaluation Basis for Salary Adjustment and Promotion
SALARIES 1. 2. 3. BONUSES Salaries of Non-Confidential Personnel Salaries of Confidential Personnel Salary Deductions
1.
13th Month Pay
LEAVE BENEFITS 1. 2. 3. 4. 5. Sick Leave Vacation Leave Paternity Leave Maternity Leave Bereavement Leave
FUNERAL ASSISTANCE HEALTH SERVICES / MEDICAL PLAN 1.
2.
Medical Care Program Annual Medical Check-up
MERIT INCREASE EDUCATION & TRAINING ASSISTANCE
PART I.
WHAT YOU CAN EXPECT AS AN EMPLOYEE
EMPLOYMENT STATUS All newly-hired employees are considered probationary employees for a maximum of six months trial and observation period. During the period, the employee’s performance is closely monitored and evaluated. If the employee does not meet the standards of the company and continues to fall below the standards despite reminders and warnings, his employment may be terminated at any time during the six-month period. At the end of the six months however, if the performance of the employee meets the standards set by the management, the employee attains permanent status and starts to enjoy many benefits the company gives to its employees. PROMOTION AND SALARY ADMINISTRATION 1. Performance Evaluation System The performance appraisal system is designed to provide a common and equitable basis for evaluating the performance of employees. The company regards the evaluation of the employee’s performance as one of the primary responsibilities of manager’s and supervisors. The performance appraisal system is an effective tool for: • • • assisting employees in their development and growth; determining an objective and equitable merit increase; and determining appropriate personnel action, such as transfer or promotion
All employees are rated on their respective work performance. Every employee’s work performance is rated by his immediate supervisor. In rating the work performance of non-senior employees, a rater /supervisor is required to discuss his rating with employee, more particularly the strong points and weaknesses in the employees’ performance. An employee may disagree with the appraisal made by his supervisor and indicate his non-conformity by placing his comments into the evaluation sheet which, in all cases is reviewed by higher management. 2. Mechanics of the System The rater evaluates the performance of the employee assigned to him/her according to measurable factors shown on the Performance Appraisal Report (PAR) form. These factors are grouped into measurable traits that are directly related to the job. They are: 2.1 Job Knowledge and Skills Evaluates the individual’s knowledge of the job as applied in actual work situations. The degree of job knowledge and skills is indicated by the employee’s ability to recognize and analyze problems; ability to integrate small aspects of the job in relation to company objectives, application of creativity and imagination to work situations, writing skills and innovativeness. 2.2 Administrative Ability
Evaluates the individual’s ability to plan and control work assignments. 2.3 Personal Qualities Evaluates the extent to which the individual’s personal characteristics have hindered or contributed to the performance of the individual in the company. The qualities included are : initiative and drive, punctuality, ability to get along with others (including clients), self-confidence and leadership abilities.
3. Frequency of Evaluation A performance appraisal of supervisory and lower level personnel is conducted on an annual basis. This is initiated by the Personnel Officer who sends out a memo to the different managers and supervisors regarding the appraisal of personnel reporting to them. The manager/supervisor appraises the employee concerned based on the criteria stated. Upon completion of the PAR, the rater discusses the evaluation with his immediate superior before discussing it with the employee. During the discussion with the employee, the rater makes sure that specific points for improvement and specific goals are thoroughly discussed. In between the evaluation periods, managers and supervisors hold informal appraisal and counseling sessions with their employees. The input from the informal appraisal and counseling sessions will be included in the annual evaluation of the employee. 4. Basis for Salary Adjustment and Promotion The company puts more emphasis on performance than on length of service in determining promotions and salary increases. Neither does it give automatic promotions. The progress of an employee depends entirely on the quality of work, his initiative, resourcefulness, and consistency. SALARIES All personnel are paid on a bi-monthly basis every fifteenth and end of each month. If the fifteenth or the end of the month falls on a Saturday or holiday, the pay date is the banking day prior to said Saturday or holiday. The company opens a payroll account for each employee with its designated bank. 1. Salaries of Non-Confidential Personnel The salaries of non-confidential personnel are credited to their accounts with the designated bank of the company. Their pay slips are distributed by the Accountant in charge of payroll. It contains the gross pay, deductions made and net pay for the pay period. The procedures in getting the salary are as follows: 1.1 The employee receives the pay slip from the Accountant and signs the acknowledgment portion of the pay slip in front of him/her; and 1.2 The employee returns the acknowledgment portion of the pay slip to the Accountant;
If there are discrepancies in the computation of the salary, the employee concerned should notify the Accounting department at the earliest possible time. 2.Salaries of Confidential Personnel The salaries of confidential personnel are credited to their accounts with the designated bank of the company. Their pay slips are distributed by the Finance Manager. The acknowledgment portion of the pay slip should be returned to her. If there are discrepancies in the computation of the salary, the employee concerned should notify the Finance Manager. 3. Salary Deductions As mandated by law, the following deductions from the salary of the employees are made: Withholding Tax, Social Security System premiums, Pag-ibig and Medicare premiums. Other deductions, like amortization of SSS loans, salary loans, fees arising from dental treatment, excess leaves (whether vacation or sick leave), tardiness and the like shall also be made provided a Salary Deduction Authority is signed by the employee and the total deductions are not more than 50% of the take home pay. All deductions from the employee’s salary will be reflected on the pay slip. BONUSES 13th Month Pay All personnel are entitled to the 13th month pay prorated to the number of months worked. This is given to all personnel before Christmas Day, generally or even before December 15. The computation of the 13th month pay is based on the total basic salary of the employee divided by number of months worked during the year. LEAVE BENEFITS 1.Sick Leave (SL) All Personnel, upon permanency, may avail of the SL benefits. SL credits are earned after probationary period at the rate of 1 leave per month worked. This benefit may be availed of on an as available basis. SL credits are not cumulative. Sick leaves for 2 days or more should be accompanied by a doctor’s certificate. If no certificate is submitted, then the leave for the second day onwards will be deducted from vacation leave credits. 2.Vacation Leave (VL) All Personnel, upon permanency, may avail of the VL benefits. VL credits are earned after the probationary period at the rate of 10 hours per month worked. This benefit may be availed of on an as available basis. VL credits may be accumulated up to a maximum of 240 hours or 30 days, any other VL credits earned beyond these, will be notified to the employee and immediate supervisor for consumption and will be forfeited if not used within the given period. Upon resignation, accumulated VL’s will be converted to cash.
To enable proper scheduling of departmental work loads, applications for vacation leave of more than 1 day should be pre-scheduled and approved by the immediate supervisor. A valid reason should be submitted when applying for a vacation leave. Application of VL must be applied one (1) week (7 days including Saturdays and Sundays) before the intended leave. 3. Paternity Leave All married male employees are entitled to a seven (7) days leave with full pay for the first (4) deliveries of the legitimate spouse. The employee applying for paternity leave shall notify his employer about the pregnancy of his spouse and the expected date of such delivery. 4. Maternity Leave Please refer to SSS Maternity Benefits: Maternity Leave: sixty (60) days for normal delivery or miscarriage or seventy eight (78) days for caesarean. 5. Bereavement Leave All regular employees are entitled to leave with full pay for the period not exceeding three (3) days, on the occasion of death of legal spouse, parents or children. The bereavement leaves can be made available between the day of death and burial of the relative. This type of leave is not convertible to cash and is separate from the existing vacation and sick leave privileges.
FUNERAL ASSISTANCE All regular employees are entitled to receive an amount of P2,000.00 in the event of death of an immediate family member (parents, spouse & children). HEALTH SERVICES/MEDICAL PLAN 1. Medical Care Program All regular employees are enrolled with the Maxicare Healthcard. Employees already regularized by August 1, 2004 will still enjoy the old Maxicare Benefits. Employees who are already on their 5th month of probationary period shall be applied to Maxicare. As of January 1, 2008, these are the following Maxicare benefits that regular employees can avail: a. Platinum – For Officers ( Maxicare has reorganized their plans. Though this plan seems to be the highest, the only difference is that plan holders can avail of the executive check-up. This plan was formerly Maxicare’s Platinum Plus, which is a special plan for Executives.) b. Gold 1 Plan – For Officers
c. Gold 2 Plan – For Supervisors and Managers who have been regularized by the company for at least two (2) years, their plans shall be upgraded from the Silver to the Gold 2 Plan d. Silver Plan – For all newly regularized employees except Officers. After one year of service, the employee can apply for his/her dependents:
a. Single employees - can apply for one (1) dependent, specifically
one of his/her parents only.
b. Married employees – can apply for two (2) dependents,
specifically his/her spouse and child only. * Rank and File employees remain in the Silver Plan regardless of the years of service in the company. * All dependents remain in the Silver Plan regardless of the movements of the Principal Plan holders. 2. Annual Medical Check Up All regular personnel are encouraged to undergo an annual physical examination. This is scheduled by the company with our health maintenance organization (Maxicare). This will help the employee to maintain healthy body that is essential to better productivity. MERIT INCREASE All regular employees are entitled to a merit increase depending on his/her overall performance. Merit increase will be based on the performance appraisal
EDUCATION & TRAINING ASSISTANCE 1.0 Policy The company provides education and training assistance to deserving employees. 2.0 Guidelines ( Training) 2.1 Representation Expenses Payment or reimbursement of representation expenses may be allowed provided that same shall be absolutely necessary to carry out the objectives of the trip more effectively and subject to the submission of receipts. This shall be subject to the approval of the CEO/President. 2.2 Documentation Requirements 2.2.1 The employee concerned shall be granted a cash advance for his travel expenses upon submission of the training agreement that has been approved by the CEO/President.
2.2.2 2.2.3
Upon completion of the trip, he shall submit a travel report, if needed, the certificate of attendance to training, seminar, or conference and his used airline, bus or train tickets upon his return. All trainings shall be with salary/compensation unless otherwise provided in the agreement.
3.0 Guidelines ( Education Assistance) 3.1 In consideration of acceptance of the education assistance program, the employee concerned shall bind himself to the following conditions: ♦ To submit to the President, copy furnished the Personnel Officer, his official transcripts of grades each term or semester. ♦ To serve the company for the following specified period of time: DURATION OF SCHOLARSHIP More than 6 months 2 to 6 months less than 2 months SERVICE OBLIGATION 2 years for every year or a fraction thereof 1 year 6 months
3.2 For failure to render the required length of service due to resignation, retirement or separation from the service through his own fault or other causes within his control, the employee concerned shall refund in full the amount defrayed for his education.
THE MANAGEMENT
WHAT YOU CAN EXPECT AS AN EMPLOYEE EMPLOYMENT STATUS PROMOTION AND SALARY ADMINISTRATION 1. 2. 3. 4. Performance Evaluation System Mechanics of the System Frequency of Evaluation Basis for Salary Adjustment and Promotion
SALARIES 1. 2. 3. BONUSES Salaries of Non-Confidential Personnel Salaries of Confidential Personnel Salary Deductions
1.
13th Month Pay
LEAVE BENEFITS 1. 2. 3. 4. 5. Sick Leave Vacation Leave Paternity Leave Maternity Leave Bereavement Leave
FUNERAL ASSISTANCE HEALTH SERVICES / MEDICAL PLAN 1.
2.
Medical Care Program Annual Medical Check-up
MERIT INCREASE EDUCATION & TRAINING ASSISTANCE
PART I.
WHAT YOU CAN EXPECT AS AN EMPLOYEE
EMPLOYMENT STATUS All newly-hired employees are considered probationary employees for a maximum of six months trial and observation period. During the period, the employee’s performance is closely monitored and evaluated. If the employee does not meet the standards of the company and continues to fall below the standards despite reminders and warnings, his employment may be terminated at any time during the six-month period. At the end of the six months however, if the performance of the employee meets the standards set by the management, the employee attains permanent status and starts to enjoy many benefits the company gives to its employees. PROMOTION AND SALARY ADMINISTRATION 1. Performance Evaluation System The performance appraisal system is designed to provide a common and equitable basis for evaluating the performance of employees. The company regards the evaluation of the employee’s performance as one of the primary responsibilities of manager’s and supervisors. The performance appraisal system is an effective tool for: • • • assisting employees in their development and growth; determining an objective and equitable merit increase; and determining appropriate personnel action, such as transfer or promotion
All employees are rated on their respective work performance. Every employee’s work performance is rated by his immediate supervisor. In rating the work performance of non-senior employees, a rater /supervisor is required to discuss his rating with employee, more particularly the strong points and weaknesses in the employees’ performance. An employee may disagree with the appraisal made by his supervisor and indicate his non-conformity by placing his comments into the evaluation sheet which, in all cases is reviewed by higher management. 2. Mechanics of the System The rater evaluates the performance of the employee assigned to him/her according to measurable factors shown on the Performance Appraisal Report (PAR) form. These factors are grouped into measurable traits that are directly related to the job. They are: 2.1 Job Knowledge and Skills Evaluates the individual’s knowledge of the job as applied in actual work situations. The degree of job knowledge and skills is indicated by the employee’s ability to recognize and analyze problems; ability to integrate small aspects of the job in relation to company objectives, application of creativity and imagination to work situations, writing skills and innovativeness. 2.2 Administrative Ability
Evaluates the individual’s ability to plan and control work assignments. 2.3 Personal Qualities Evaluates the extent to which the individual’s personal characteristics have hindered or contributed to the performance of the individual in the company. The qualities included are : initiative and drive, punctuality, ability to get along with others (including clients), self-confidence and leadership abilities.
3. Frequency of Evaluation A performance appraisal of supervisory and lower level personnel is conducted on an annual basis. This is initiated by the Personnel Officer who sends out a memo to the different managers and supervisors regarding the appraisal of personnel reporting to them. The manager/supervisor appraises the employee concerned based on the criteria stated. Upon completion of the PAR, the rater discusses the evaluation with his immediate superior before discussing it with the employee. During the discussion with the employee, the rater makes sure that specific points for improvement and specific goals are thoroughly discussed. In between the evaluation periods, managers and supervisors hold informal appraisal and counseling sessions with their employees. The input from the informal appraisal and counseling sessions will be included in the annual evaluation of the employee. 4. Basis for Salary Adjustment and Promotion The company puts more emphasis on performance than on length of service in determining promotions and salary increases. Neither does it give automatic promotions. The progress of an employee depends entirely on the quality of work, his initiative, resourcefulness, and consistency. SALARIES All personnel are paid on a bi-monthly basis every fifteenth and end of each month. If the fifteenth or the end of the month falls on a Saturday or holiday, the pay date is the banking day prior to said Saturday or holiday. The company opens a payroll account for each employee with its designated bank. 1. Salaries of Non-Confidential Personnel The salaries of non-confidential personnel are credited to their accounts with the designated bank of the company. Their pay slips are distributed by the Accountant in charge of payroll. It contains the gross pay, deductions made and net pay for the pay period. The procedures in getting the salary are as follows: 1.1 The employee receives the pay slip from the Accountant and signs the acknowledgment portion of the pay slip in front of him/her; and 1.2 The employee returns the acknowledgment portion of the pay slip to the Accountant;
If there are discrepancies in the computation of the salary, the employee concerned should notify the Accounting department at the earliest possible time. 2.Salaries of Confidential Personnel The salaries of confidential personnel are credited to their accounts with the designated bank of the company. Their pay slips are distributed by the Finance Manager. The acknowledgment portion of the pay slip should be returned to her. If there are discrepancies in the computation of the salary, the employee concerned should notify the Finance Manager. 3. Salary Deductions As mandated by law, the following deductions from the salary of the employees are made: Withholding Tax, Social Security System premiums, Pag-ibig and Medicare premiums. Other deductions, like amortization of SSS loans, salary loans, fees arising from dental treatment, excess leaves (whether vacation or sick leave), tardiness and the like shall also be made provided a Salary Deduction Authority is signed by the employee and the total deductions are not more than 50% of the take home pay. All deductions from the employee’s salary will be reflected on the pay slip. BONUSES 13th Month Pay All personnel are entitled to the 13th month pay prorated to the number of months worked. This is given to all personnel before Christmas Day, generally or even before December 15. The computation of the 13th month pay is based on the total basic salary of the employee divided by number of months worked during the year. LEAVE BENEFITS 1.Sick Leave (SL) All Personnel, upon permanency, may avail of the SL benefits. SL credits are earned after probationary period at the rate of 1 leave per month worked. This benefit may be availed of on an as available basis. SL credits are not cumulative. Sick leaves for 2 days or more should be accompanied by a doctor’s certificate. If no certificate is submitted, then the leave for the second day onwards will be deducted from vacation leave credits. 2.Vacation Leave (VL) All Personnel, upon permanency, may avail of the VL benefits. VL credits are earned after the probationary period at the rate of 10 hours per month worked. This benefit may be availed of on an as available basis. VL credits may be accumulated up to a maximum of 240 hours or 30 days, any other VL credits earned beyond these, will be notified to the employee and immediate supervisor for consumption and will be forfeited if not used within the given period. Upon resignation, accumulated VL’s will be converted to cash.
To enable proper scheduling of departmental work loads, applications for vacation leave of more than 1 day should be pre-scheduled and approved by the immediate supervisor. A valid reason should be submitted when applying for a vacation leave. Application of VL must be applied one (1) week (7 days including Saturdays and Sundays) before the intended leave. 3. Paternity Leave All married male employees are entitled to a seven (7) days leave with full pay for the first (4) deliveries of the legitimate spouse. The employee applying for paternity leave shall notify his employer about the pregnancy of his spouse and the expected date of such delivery. 4. Maternity Leave Please refer to SSS Maternity Benefits: Maternity Leave: sixty (60) days for normal delivery or miscarriage or seventy eight (78) days for caesarean. 5. Bereavement Leave All regular employees are entitled to leave with full pay for the period not exceeding three (3) days, on the occasion of death of legal spouse, parents or children. The bereavement leaves can be made available between the day of death and burial of the relative. This type of leave is not convertible to cash and is separate from the existing vacation and sick leave privileges.
FUNERAL ASSISTANCE All regular employees are entitled to receive an amount of P2,000.00 in the event of death of an immediate family member (parents, spouse & children). HEALTH SERVICES/MEDICAL PLAN 1. Medical Care Program All regular employees are enrolled with the Maxicare Healthcard. Employees already regularized by August 1, 2004 will still enjoy the old Maxicare Benefits. Employees who are already on their 5th month of probationary period shall be applied to Maxicare. As of January 1, 2008, these are the following Maxicare benefits that regular employees can avail: a. Platinum – For Officers ( Maxicare has reorganized their plans. Though this plan seems to be the highest, the only difference is that plan holders can avail of the executive check-up. This plan was formerly Maxicare’s Platinum Plus, which is a special plan for Executives.) b. Gold 1 Plan – For Officers
c. Gold 2 Plan – For Supervisors and Managers who have been regularized by the company for at least two (2) years, their plans shall be upgraded from the Silver to the Gold 2 Plan d. Silver Plan – For all newly regularized employees except Officers. After one year of service, the employee can apply for his/her dependents:
a. Single employees - can apply for one (1) dependent, specifically
one of his/her parents only.
b. Married employees – can apply for two (2) dependents,
specifically his/her spouse and child only. * Rank and File employees remain in the Silver Plan regardless of the years of service in the company. * All dependents remain in the Silver Plan regardless of the movements of the Principal Plan holders. 2. Annual Medical Check Up All regular personnel are encouraged to undergo an annual physical examination. This is scheduled by the company with our health maintenance organization (Maxicare). This will help the employee to maintain healthy body that is essential to better productivity. MERIT INCREASE All regular employees are entitled to a merit increase depending on his/her overall performance. Merit increase will be based on the performance appraisal
EDUCATION & TRAINING ASSISTANCE 1.0 Policy The company provides education and training assistance to deserving employees. 2.0 Guidelines ( Training) 2.1 Representation Expenses Payment or reimbursement of representation expenses may be allowed provided that same shall be absolutely necessary to carry out the objectives of the trip more effectively and subject to the submission of receipts. This shall be subject to the approval of the CEO/President. 2.2 Documentation Requirements 2.2.1 The employee concerned shall be granted a cash advance for his travel expenses upon submission of the training agreement that has been approved by the CEO/President.
2.2.2 2.2.3
Upon completion of the trip, he shall submit a travel report, if needed, the certificate of attendance to training, seminar, or conference and his used airline, bus or train tickets upon his return. All trainings shall be with salary/compensation unless otherwise provided in the agreement.
3.0 Guidelines ( Education Assistance) 3.1 In consideration of acceptance of the education assistance program, the employee concerned shall bind himself to the following conditions: ♦ To submit to the President, copy furnished the Personnel Officer, his official transcripts of grades each term or semester. ♦ To serve the company for the following specified period of time: DURATION OF SCHOLARSHIP More than 6 months 2 to 6 months less than 2 months SERVICE OBLIGATION 2 years for every year or a fraction thereof 1 year 6 months
3.2 For failure to render the required length of service due to resignation, retirement or separation from the service through his own fault or other causes within his control, the employee concerned shall refund in full the amount defrayed for his education.
THE MANAGEMENT
