PMAP 639th General Membership Meeting: The Future of Rewards
Written by Hazel Tolentino
“The Future of Rewards” was the theme of the People Management Association of the Philippines’ (PMAP) 639th GMM held at The Fairmont Hotel in Makati last August 29, 2018. During this meeting, I had the privilege of hearing from experts in the field of Talent and Rewards Management. To formally start the meeting, the current PMAP president, Michelle C. Garcia, gave a brief background on Total Rewards.
The first speaker, Patrick Marquina, Talent and Rewards Director of Willis Towers Watson, shared that anything of value to employees are considered rewards. It is not just about having benefits, good compensation, pensions, and learning and development; it also includes flexible working and career opportunities. He tackled the realities surrounding changing employment relationship and multiple generation management in the workplace. He also mentioned some innovations involving reward strategy such as pay mix, pay for productivity, compensation funding framework, and bonus banking technology.
The next speaker was Elizabeth D. Nasol, SVP of the Human Resources Management Group of Energy Development Corporation and president of the Compensation Management Society of the Philippines. She talked about some considerations related to “Getting Smart with Total Rewards” — pay will no longer be kept secret, performance rating will not disappear, organizations will have more contingent workers, benefits will shift to models with greater employee choice, reward programs will be expressly designed and delivered, there is power to the people, the end of fixed jobs, learning in real time, hospitality and service, shrinking HR teams, and letting go.
After her talk, Elizabeth Nasol joined her colleagues for a panel discussion. Other members of the panel were Carmen Melissa Antonio — HR Director and SVP of Nestle Philippines and Mary Grace Gervacio — Total Rewards Director of Johnson & Johnson. The discussion was moderated by Ging Igual, consultant at Willis Towers Watson. All members of the panel agreed that, in order to create a balanced culture, leadership, and people strategy, it is important to influence the leadership first since culture is driven by them. They also confirmed that providing good health or medical benefits is still considered to be most valued by employees across all generations.
In summary, Talents and Rewards practitioners should be in the NOW. They should establish intimacy with multiple generations and ensure that rewards are relevant by learning what is applicable, not only to current hires but also to future ones. As a result, this will provide an extraordinary experience to all stakeholders.
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About the author:
Hazel has 20 years of professional experience in Human Resources Management, with a strong background in talent search and recruitment. Her extensive work experience gave her an opportunity to handle job search requirements of clients from different industries such as consumer, direct selling, healthcare, manufacturing, pharmaceutical, and most recently, with information technology. Hazel is married with three wonderful children.