CEBU, Philippines - While it’s hard to keep good employees to work “sincerely” for a company, an economist said that one of the best ways to motivate workers is to offer stock options as ultimate incentive.
Cebuano economist Efren Valiente said that with the continuous exodus of workers seeking good pastures abroad, local companies are bound to lose the good and talented workers because of the lack of satisfactory incentives and without giving them importance.
“Human as we are, we only work hard if it is for our own. Employees, who can take ownership of the company they work for, strive much harder,” said Valiente emphasizing that this concept is one of the best incentives a company could give to asset employees.”
The new generation of businesses now, can only thrive if they have sincere and hard working employees. Valiente said with wide options of employment here and abroad good ones always look for better income offer. Offering employees a company’s stock will motivate them to work harder.
At the same time, Valiente said the new generation of workers now, is much clever. “They only work harder if they know they can also earn more from their sweat.”
Thus, he urged companies to take serious attention in keeping the human resource, if they want to stay longer and thrive in the business field.
In Cebu, Valiente said local companies should consider the stock market, as their option to grow and access financing for expansion ventures.
With this, when company gets into IPO, it will not only give them the opportunity to expand the business and compete with the giants, but it will also provide a way to keep the employees happier and satisfied.
Valiente, who is a former Cebu Chamber of Commerce and Industry (CCCI) president said with what Cebu has achieved in terms of economic growth in the last few years, companies especially Small and Medium Enterprises (SMEs) should also go with the growth, and be matured in playing in the challenging business landscape.
He said the economy now is borderless, SMEs compete with the world players, and they have to be wiser enough to keep up with the trail blazing in global trade.
Most SMEs he said still need to emerge themselves and see the beauty of sourcing funds from the capital market.
Offering shares of stocks to employees will not only pose higher productivity and growth, it will also provide economic benefits for Cebu, as the purchasing power of mere company workers will improve, Valiente said.
In Cebu, there are only few companies which are listed in the stock market. These are Aboitiz Equity Ventures (AEV), Cebu Holdings Inc. (CHI), Cebu Property Ventures and Development Corporation (CPVDC), Waterfront Philippines Inc. (WPI), and very few others.
Valiente urged SMEs to consider the capital market as their alternative funding source for expansion, as well as incentive-tool to keep productive and skilled employees.