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CHAPTER I

MANAGEMENT ASPECT

This chapter concerns the organizational set-up of the business. This includes the
organizational chart, the qualifications of the people involved. It also determines the type of
business ownership and the duties and responsibilities of each personnel needed to run and
manage the business.

This chapter includes the mission and vision statement and core value which reflects
every facet of the business: the range and nature of the products offered by the business,
pricing, quality, service, marketplace position, growth potential, use of technology, and the
relationships of the company with their customers, employees, suppliers, competitors and the
community.

1.1 Introduction
Panna Cotta is the main product being offered by this business. It is an Italian dessert,
most popular in Northern Italy, and probably originated in the Piedmont region of the country.
Its name translates to cooked cream, but it is actually not cooked that much. Milk and cream,
plus sugar and flavorings are cooked together for a brief period of time, and then added to a
thickening agent which results in a dessert that has an exceptionally light and silky mouth feel.

To make this dessert more exceptional and eye appealing to the customers, the
proponents decided to combine it to fruits such as lychees, mangoes, and buko which will also
serve as its unique flavors.

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The main ingredients of this dessert which happens to be milk and cream contains
vitamins and nutrients that are essential to our body and combining it with fresh fruits which
contains natural sweet flavors will make it more delicious and give it more health benefits.

We are all aware that milk is a great source of calcium, which is essential for healthy
bones and strong teeth. It also contains protein, which helps to rebuild muscles. Cream
contributes about three percent of the daily sodium, carbohydrates and protein needs of a
person. Cream also provides vitamins A and C contributes in strengthening ones immune
system.

In the other hand, Fruits which are considered natures wonderful gift to mankind
because its like medicines packed with vitamins, minerals, anti-oxidants and many phytonutrients (Plant derived micronutrients). They are an absolute feast to our sight, not just
because of their color and flavor but for their unique nutrition-profile that help the human body
free of diseases and stay healthy!

1.2 Mission
Mission statement is a short sentence or paragraph used by a company to explain, in
simple and concise terms, its purposes for being. These statements serve a dual purpose by
helping employees to remain focused on the tasks at hand, as well as encouraging them to
find innovative ways of moving towards an increasingly productive achievement of company
goals.

Our ventures mission is as follows:

De La Belles Sweet Solutions shall manufacture desserts of highest quality and taste that will
be loved by all food specially dessert lovers.

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1.3 Vision
Vision statement is an aspirational description of what an organization would like to achieve or
accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for
choosing current and future courses of action.

Our ventures vision is as follows:

De La Belles Sweet Solutions envisioned itself to be the best provider of dessert in the
Philippines.

1.4 Customer Perceived Values


Customer Perceived Values (CPV) is the worth that a product or service has in the
mind of the consumer. The consumer's perceived value of a good or service affects the price
that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost
of production for the products they buy. Instead, they simply have an internal feeling for how
much certain products are worth to them. Thus, in order to obtain a higher price for their
products, producers may pursue marketing strategies to create a higher perceived value for
their products.

The Customer Perceived Values our venture is trying to achieve are the following:

Great Taste which is unparalleled by other competitors;

Best Quality that nothing compares;

Affordability that will keep customers coming back; and

Healthy which shall be loved by both food lovers and health conscious customers.

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1.5 Business Logo

The Logo is the graphical mark used to identify a company, organization, product or
brand. Logos are in used in order to generate awareness of the company's association with a
particular product or service.

The proponents choose pink and green as the main color to be used in the business
venture and in the logo because aside from the fact that it is eye appealing when combined,
both colors has positive meanings in business which matches the ventures desires and goals.

1.6 Business Name


The proponents decided to name the venture De La Belles Sweet Solutions. It was
derived from the combined name of Dhenner (De), Laica (La) and Jobelle (Belle) who were the
proponents of this study.

Sweet was added to the name to indicate what the business venture is offering which is
desserts. Sweets are also believed to be a stress reliever so we came up with the name Sweet
Solutions. We envisioned our business to give happiness to our clients and lift up the mood of
our customers that is why we decided that De La Belles Sweet Solutions would be the perfect
name for the venture.
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1.7 Business Form


The proponents decided to establish a partnership in this business venture.

According to a business site, a partnership is a relationship, not a separate legal entity.


Each partner jointly owns all the business assets and liabilities. It's vital that each partner
knows their rights, responsibilities and obligations.

Some of the Advantages of Partnership are:

Simple and inexpensive to set up.

Minimal reporting requirements.

Shared management/staffing responsibilities.

More opportunities for tax planning (such as income splitting between family members)
than that of a sole trader.

A partner's share of the business's tax losses may be offset against other personal
income, subject to certain conditions.

Combined skills, experience and knowledge can provide a better product/service.

Relatively easy to dissolve or exit and recover your share.

Access to capital.

Partners are not employees. Superannuation contributions and workers' compensation


insurance are not payable on partners profits or drawings.

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1.8 Ownership
The capital and income of the business is agreed to be shared by the owners in the
following ratio:

John Dhenner B. Camatog

40%

Jobelle I. Catabay

30%

Cherry Laica D. Cawaling

30%

John Quin I. Pendon

0% (*to be discussed on chapter 5)

1.9 Business Classification


The venture will be registered and classified as Micro-business.

A micro-business as defined by the Department of Trade and Industry (DTI) is any


business activity/enterprise engaged in industry, agri-business/services, whether single
proprietorship, cooperative, partnership, or corporation whose total assets, inclusive of those
arising from loans but exclusive of the land on which the particular business entity's office,
plant and equipment are situated, must have value falling under the following categories:

MSME

Asset Size

Number of Employees

Micro Business Enterprise

Up to 3,000,000

1 - 9 employees

Small Business Enterprise

3,000,001 - 15,000,000

10 - 99 employees

Medium Business Enterprise

15,000,001 - 100,000,000

100 - 199 employees

Large Business Enterprise

above 100,000,000

More than 200 employees

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1.10

Job Analysis
To utilize and efficiently use each employees working hours, the proponents decided to

hire service crews who will be working together with the proponents in a rotating matter. Each
crew will be assigned to a task for a week and another task in the following week which means
that all crew will experience the works done by a cashier and the works in the kitchen. All
crews will also be trained how to create the products offered by the venture specially the
Panna Cotta.

Number of Employees:

1 Security Guard

5 Service Crew (1 hired, 4 existing as the proponents)

1 Cashier

2 Table Attendant / Wait Personnel

2 Kitchen Personnel

Service Crew Qualifications:

Male or Female, 18 to 25 years old

College Level or a Graduate of a Four Year Course

Possesses good communication and customer service skills

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A team player, quick learner and hard worker

Has pleasing personality

Has the ability to multi-task, can work under pressure, reliable and has good
initiative

Willing to work on extended hours and can work with less supervision

Experience in dessert shop service is an advantage but not required as on-the


job-training will be provided

Duties and Responsibilities:

Security Guard

Security guards are crime, threat and risk prevention officers assigned
to protect specific people and property. This may include detecting some of the
same offenses that would cause a peace officer to act, such as a fight or
burglary. The security guards concern is to protect persons and prevent
damage or destruction to property.

Listed Below are the Duties and Responsibilities of a Security Guard:

Secures premises and personnel by patrolling property; monitoring


surveillance equipment; inspecting buildings, equipment, and access
points; permitting entry.

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Obtains help by sounding alarms.

Prevents losses and damage by reporting irregularities; informing


violators of policy and procedures; restraining trespassers.

Controls traffic by directing drivers.

Completes reports by recording observations, information, occurrences,


and surveillance activities; interviewing witnesses; obtaining signatures.

Maintains environment by monitoring and setting building and


equipment controls.

Maintains organization's stability and reputation by complying with legal


requirements.

Ensures operation of equipment by completing preventive maintenance


requirements; following manufacturer's instructions; troubleshooting
malfunctions; calling for repairs; evaluating new equipment and
techniques.

Contributes to team effort by accomplishing related results as needed.

Cashier

A cashier

collects

and

disburses

money

within

financial

and

other

establishments. Cashiers are responsible for ringing up transactions, taking


food orders and also helping to ensure the place stays clean.
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Listed Below are the Duties and Responsibilities of a Cashier:

Be in charge of the register

Handle all the cash transactions

Balance the register at the end of the day or shift

Greet the patrons / customers when they come in

Book reservations and receive telephone orders.

Responsible of taking the food check from the customers or the table
attendants

Cashier responsibilities include assisting the wait staff during rush hours

Pacify customers when they are annoyed

Provide immaculate service to the patrons / customers.

Acknowledge the regular customers

Table Attendant / Wait Personnel

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A table attendant often refers to an employee who delivers food. A table


attendant will make sure that food is delivered in a timely manner and will
also make sure that the guests are happy during their stay.

Listed below are the Duties and Responsibilities of a Table Attendant:

Greet the patrons / customers when they come in

Bring customers orders to their table

Check the customers to ensure that they are enjoying their meals and
take necessary actions if there are problems

Clean tables and/or counters after patrons have finished dining.

Helps in cleaning dishes

Maintains the cleanliness of the dining area

Helps in cleaning the venture after closing time

Kitchen Personnel

The kitchen staff / personnel is involved in the same basic duties required to
provide food services to clients. Food preparation and the actual cooking of
the dishes are just two of the jobs available in a kitchen.

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Listed below are the Duties and Responsibilities of a Table Attendant:

Prepare, cook and present food quickly and efficiently

Keeps the kitchen clean, hygienic and tidy, at all times

Clean Dishes

Employees Compensation Table:

350.00

Total Weekly
Compensation
1,750.00

Total Monthly
Compensation
7,000.00

Cashier

350.00

1,750.00

7,000.00

Security Guard

425.00

2,125.00

8,500.00

Kitchen Personnel

350.00

1,750.00

7,000.00

Table Attendant

350.00

1,750.00

7,000.00

Employee

Daily Rate

Proponents

Weekly or Monthly Compensation may vary depending on the attendance of


each personnel. Income share of the proponents is different from their compensation.

1.11

Benefits

Listed Below is the summary of 2013 Employee Benefits in the Philippines:

Employees are eligible for most benefits programs on the first day of employment.

Holidays: Twelve (12) paid holidays per year as provided under Philippine law.

Vacation: Thirteen (13) vacation days, with additional 1 vacation day every year
starting on 2nd year of service. Maximum total vacation leave is 18 days.

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Retirement: The plan, which is 100% funded by the company calculated at one
months base salary per year of service based on the employees latest basic rate
upon normal retirement at age 60, death or total and permanent disability. Early
retirement benefit can be available starting at age 50 and 10 years of service equal
to 50% of normal retirement benefit.

Healthcare: The plan provides a comprehensive health care coverage for


employees and eligible dependents through Intellicare accredited hospitals and
doctors nationwide. The company pays 100% of the cost of employees coverage
while contributing 57% of the cost of dependents coverage. The company also
maintains an onsite medical clinic manned by a company nurse per shift and a
group of company doctors who reports to the clinic six days a week on specified
time schedules providing free medical consultations, emergency medicines, minor
and first-aid treatments and health counselling. As part of preventive health care,
free vitamins are also provided to employees while on duty and all employees are
required to undergo an annual medical, dental and eye check-up conducted onsite.

Dental - Free dental benefits are likewise provided with three (3) dentists
alternately visiting the factory rendering unlimited dental consultations,
unlimited simple tooth extractions and temporary fillings, annual oral
prophylaxis, re-cementation of jacket crown inlays and onlays, simple
adjustment of dentures and emergency treatments.

Outpatient Medicine Reimbursement - The Company reimburses expenses


for outpatient medicines for employees and dependents. An out-patient
medicine of employees is 100% reimbursable while for dependents up to a

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Chapter I Management Aspect

total amount of Php. 2,000 per employee/year. Approval of reimbursement


requires submission of prescription and official receipts.

Maternity Grant - Cash assistance are provided to regular female


employees & legal spouse of male employees: P 3,000 (miscarriage); P
1,500 (home delivery); P 5,000 (normal delivery); 80%-20% (caesarean
delivery).

Leaves:

Sick Leave - Twelve (12) days per year for the first two years of service.
With additional 1 sick leave every year starting on 2nd year of service.
Maximum total sick leave is 15days. All unused leave days are convertible
to cash in December of each year.

Paternity Leave - All legally married male employees are eligible for 7
working days up to four (4) child birth or miscarriage of legitimate spouse to
be availed within sixty (60) days from deliver / miscarriage.

Bereavement - Three (3) days in the event of death of an immediate family


member which includes the employees children, parents, grandparents,
brother, sister, spouse, and parents-in-law.

Solo Parent Leave - Seven (7) working days parental leave for solo parents
certified by the DSWD

Calamity Leave two (2) days leave for employees who were affected by
flood, fire and typhoon

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Magna Carta for Women Sixty (60) working days leave. It is given to all
female employees who underwent surgery caused by gynaecological
disorders and who have rendered at least six (6) months continuous
aggregate employment service for the last twelve (12) months prior to
surgery.

Disability/Life Insurance: The plan, which is funded 100% by the Company,


provides insurance benefits to the employees designated beneficiaries in the event
of death due to illness or accident, with a no evidence limit of up to P4.5M. The
amount of benefits is specified below:

Life Insurance Benefit Limit - 24 x monthly base salary base on the


employees latest basic rate.

Accident, Death and Disability Benefit Limit - 12 x monthly base salary


based on the employees latest basic rate.

Total Permanent Disability Benefit Limit - 24 x monthly base salary based on


the employees latest basic rate.

Terminal Illness Benefit Limit - 12 x monthly base salary based on the


employees latest basic rate, max of Php .5M

Critical Illness Benefit - 12 x monthly base salary, max of Php 1M

Other Benefits:

13th month - The Company grants a 13th month pay equivalent to one (1)
months pay to all eligible associates every November of each year.

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Associates with at least one (1) year of service as of November 20th shall
receive a full bonus equivalent to one (1) months basic monthly salary while
those less than one (1) year of service shall receive a pro-rated bonus
provided they have worked for 1 month.

Mid-year Bonus The company grants bonus equivalent to 12 days pay. All
probationary and regular employees are eligible to this bonus.

Rice Allowance - The Company shall provide rice subsidy to all eligible
associates in cash which shall be incorporated in the payroll, tax-free, every
month.

Meal Subsidy - The Company provides its associates with a meal subsidy to
partially cover for meals every day that the associate reports for work and to
alleviate his daily expenses. An employee must have rendered the minimum
number of hours per day to get a full or half-meal credit.

Tuition Fee Subsidy - All employees are eligible upon hire. Amount of
subsidy: P 2,500 given in April of each year.

Employees Educational Assistance Program - Provides reimbursement of


duly approved educational expenses upon satisfactory completion of the
course and provided that the degree or course taken is relevant to the
employees

present

or

prospective

job

assignment.

Maximum

reimbursement per term is P 10,000. All regular employees are eligible to


this benefit.

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Kapwa Tulong Program Cash assistance provided to an employee in


cases of death of immediate dependents or calamity. The company
matches the contribution of employees thru the Kapwa Tulong Program
which is administered through salary deduction.

Attendance Bonus A bonus equivalent to one day pay given to all DL


associates and IDL who is JG 8 and below (except Technicians with JG 9 &
10). Associates must have perfect attendance in one (1) month with no
tardiness, under time or unexcused absence.

Prolong Sickness (PSL) Benefits It is given to all employees with at least


six months of service. Purpose of this benefit is to provide regular
employees with salary protection during recuperation period from certain
medical conditions. The condition may include but not limited to;

Chronic ailments requiring at least one month of treatment whether


through hospitalization or outpatient basis.

Major Operative procedures such as, but not limited to, general and
specialized

surgeries,

and

major

gynaecological

operation.

Obstetrical surgical procedures such as caesarean section are not


included under this benefit.

Post-injury conditions which warrant long recuperation period.

Loyalty Token Employees are recognized for their loyal and dedicated
service to the company for every five years of continuous service by the

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Chapter I Management Aspect

way of gift check or token, plus plaque of appreciation during the service
award ceremony.

Listed below are the benefits that are required by the Philippine government to be given to
working Filipinos (Government-mandated Benefits):

Social Security System (SSS) The Social Security System was created by the
Philippine government.

All employees hired by private companies are required to

become an SSS member (Republic Act No. 8282). This system aims to protect its
members for when they are unable to work such as sickness, disability, maternity, old
age and death, or other such contingencies not stated but will result in loss of income
or results to a financial burden. When an employee gets sick, SSS will reimburse them
with their equivalent daily salary multiplied by the number of days absent. When a
female member gives birth, SSS gives the employee 2 months worth of salary to
compensate for the time she will be off from work due to childbirth. The SSS also
serves as a pension plan for its members as SSS returns members monthly
contributions after they retire from work. The amount of SSS monthly contribution is
determined from the actual monthly salary an employee receives. 30% of total monthly
contribution is deducted from an employees salary, while 70% is subsidized by the
employer.
Below is the New Schedule of SS and EC Contributions effective and applicable starting January 2014.
RANGE OF
COMPENSATION

MONTHLY
SALARY
CREDIT*

1,000 1,249.99
1,250 1,749.99
1,750 2,249.99
2,250 2,749.99
2,750 3,249.99
3,250 3,749.99
3,750 4,249.99
4,250 4,749.99
4,750 5,249.99
5,250 5,749.99

1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500

De La Belles Sweet Solutions

EMPLOYER - EMPLOYEE
SOCIAL SECURITY
EC
TOTAL CONTRIBUTION
ER
EE
TOTAL
ER
ER
EE
TOTAL
73.70
36.30
110.00
10.00
83.70
36.70
120.00
110.50
54.50
165.00
10.00
120.50
54.50
175.00
147.30
72.70
220.00
10.00
157.30
72.70
230.00
184.20
90.80
275.00
10.00
194.20
90.80
285.00
221.00
109.00
330.00
10.00
231.00
109.00
340.00
257.80
127.20
385.00
10.00
267.80
127.20
395.00
294.70
145.30
440.00
10.00
304.70
145.30
450.00
331.50
163.50
495.00
10.00
341.50
163.50
505.00
368.30
181.70
550.00
10.00
378.30
181.70
550.00
405.20
199.80
605.00
10.00
415.20
199.80
615.00

18

SE/VM/OFW
TOTAL
CONTRIBUTION
110.00
165.00
220.00
275.00
330.00
385.00
440.00
495.00
550.00
605.00

Chapter I Management Aspect


5,750 6,249.99
6,000
442.00
218.00
660.00
6,250 6,749.99
6,500
478.80
236.20
715.00
6,750 7,249.99
7,000
515.70
254.30
770.00
7,250 7,749.99
7,500
552.50
272.50
825.00
7,750 8,249.99
8,000
589.30
290.70
880.00
8,250 8,749.99
8,500
626.20
308.80
935.00
8,750 9,249.99
9,000
663.00
327.00
990.00
9,250 9,749.99
9,500
699.80
345.20 1,045.00
9,750 10,249.99
10,000
738.70
363.30 1,100.00
10,250 10,749.99
10,500
773.50
381.50 1,155.00
10,750 11,249.99
11,000
810.30
399.70 1,210.00
11,250 11,749.99
11,500
847.20
417.80 1,265.00
11,750 12,249.99
12,000
884.00
436.00 1,320.00
12,250 12,749.99
12,500
920.80
454.20 1,375.00
12,750 13,249.99
13,000
957.70
472.30 1,430.00
13,250 13,749.99
13,500
994.50
490.50 1,485.00
13,750 14,249.99
14,000
1,031.30 508.70 1,540.00
14,250 14,749.99
14,500
1,068.20 526.80 1,595.00
14,750 15,249.99
15,000
1,105.00 545.00 1,650.00
15,250 15,749.99
15,500
1,141.80 563.20 1,705.00
15,750 over
16,000
1,178.70 581.30 1,760.00
*The minimum monthly salary credit for OFW members is P5,000

10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
10.00
30.00
30.00
30.00

452.00
488.80
525.70
562.50
599.30
636.20
673.00
709.80
746.70
783.50
820.30
857.20
894.00
930.80
967.70
1,004.50
1,041.30
1,078.20
1,135.00
1,171.80
1,208.70

218.00
236.20
254.30
272.50
290.70
308.80
327.00
345.20
363.30
381.50
399.70
417.80
438.00
454.20
472.30
490.50
508.70
526.80
545.00
563.20
581.30

670.00
725.00
780.00
835.00
890.00
945.00
1,000.00
1,055.00
1,110.00
1,165.00
1,220.00
1,275.00
1,330.00
1,385.00
1,440.00
1,495.00
1,550.00
1,605.00
1,680.00
1,735.00
1,790.00

660.00
715.00
717.00
825.00
880.00
935.00
990.00
1,045.00
1,100.00
1,155.00
1,210.00
1,265.00
1,320.00
1,375.00
1,430.00
1,485.00
1,540.00
1,595.00
1,650.00
1.705.00
1,760.00

Philippine Health Insurance (PhilHealth) The Philippine Health Insurance Corporation


is the medical insurance company of the Philippines. All employees are required to be
contributors of this service (Republic Act 7875).

Members are given health and

hospitalization subsidies should they or a dependent be hospitalized.

Monthly

contributions are based on actual employee monthly salaries and the amount of
employee contribution is matched equally by the employer.

Home Development Mutual Fund (Pag-ibig Fund) Employers are also required to
contribute, on behalf of their employees, to the Home Development Mutual Fund
(Republic Act 7835). This company provides the lowest interest housing and land
acquisition loans to its members that are payable for up to 30 years. This gives every
Filipino worker an opportunity to own a house in easy-payment plans that can directly
be deducted from their monthly wages.

13th Month Pay Based on Presidential Decree No. 851, all Filipino employees are
entitled to a year-end bonus equivalent to one (1) month salary regardless of the

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Chapter I Management Aspect

nature of their employment. The 13th month pay is to be given no later than December
24 of every year a worker is employed.

Service Incentive Leave According to Article 95 of the Labor Code of the Philippines,
an employee who has worked for at least one (1) year in a company is entitled to five
(5) days leave of absence, with pay, every year. If the employee does not avail of
these paid leaves, the company may opt to have them do a mandatory leave of
absence, with pay, or convert these unveiled paid leaves to their cash equivalents, to
be given at the end of each year.

Meal and Rest Periods - According to Article 83 of the Labor Code of the Philippines,
employees are entitled to one (1) hour break for meals on an eight-hour work day.
Employees are also entitled to adequate rest periods in the morning and afternoon, of
short durations, that will be counted as hours worked. These rest periods normally last
for 15 minutes and can be used by employees as coffee or snack breaks.

Overtime Pay and Holiday/Rest Day Pay - Under Article 87, an employee who renders
over eight (8) hours of service per day shall be given an overtime pay which is
equivalent to his regular hourly wage plus at least twenty-five percent (25%) thereof.
Under Article 93, if an employee is asked to work on their scheduled rest day or on a
non-working holiday, the employee shall be paid an additional compensation of at least
thirty percent (30%) of his regular wage.

Night Shift Differential According to Article 86, every employee shall be paid a night
shift differential of not less than ten percent (10%) of his regular wage for each hour of
work performed between ten oclock in the evening and six oclock in the morning.

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Other company benefits Other company benefits that are not government mandated,
but are usually given to employees anyway are:

Holiday/Christmas Bonus This is given in December, on top of the 13th month pay.
This is considered as the companys Christmas gift to their employees.

Mid-Year Bonus This is given in June, when the countrys school year starts. This is
to assist employees in school enrollment fees for their children. This is also known as
an educational assistance plan.

Cost of Living Allowances Some companies provide their employees with yearly rice,
medicine, and clothing allowances.

Paid Holiday and Vacation Leaves On top of the mandated 5 days/year leave with
pay, some companies give their employees additional paid holiday and vacation
leaves. The number of days allocated for these leaves usually vary from company to
company and depends on the number of years an employee has been of service to the
company.

All the benefits mentioned above, that are enjoyed by Filipino employees, are what
sweetens the deal more than the regular salaries that they receive. When faced with a
choice between two jobs that pay more or less the same in terms of salary, an employee will
always consider company benefits in order to make a sound decision. These benefits are
equivalent to 30-50% of an employees yearly wage, sometimes more. In the end, companies
who know how to take good care of their employees will have a lower employee turn-over rate
than those that give no more than government-required benefits.

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Chapter I Management Aspect

Freelancers have the option to enrol themselves to SSS, Phil Health, and HDMF as
self-employed individuals to avail of the benefits these institutions offer. However, if theyd
wish to become members, they would have to shoulder the entire contribution themselves to
cover for both employee contribution and employer subsidy. The amount of the contribution
will depend upon the income that freelancers will declare, and of course, benefits will also vary
based on the amount of monthly contributions.

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