NextGen Day

On Monday, the House of Representatives passed a bill in the second reading that aims to boost efficiency across all sectors so that businesses can compete globally.

By recognizing the rights of labor to a just share in the fruits of production and the rights of business enterprises to reasonable returns on investments and for growth and expansion, House Bill No. 6683, also known as the “Enterprise Productivity Act,” was approved by a simple viva voce vote. It also aims to promote gainful employment, improve working conditions, maintain industrial peace and harmony, and promote the principle of partnership and shared responsibility between labor and management.

Representative Mark Go of Baguio City, one of the primary architects of the proposal, said that by fostering inclusive and sustainable work productivity programs, it aims to reinforce and strengthen the goals of Republic Act No. 6971, also known as the “Productivity Incentives Act of 1990.”

To recognize both the rights of the workers and their employers, he said, “as a policy of the State, the preservation of balance in the workplace is necessary: the former, to their right to a fair and just share of labor; and the latter, to their right to reasonable returns of investment vital for growth and expansion.”

By offering incentives to both labor and management for implementing product development initiatives and fairly sharing the benefits that result from them, the suggested approach, he continued, intends to boost labor productivity.

Rep. Joey Salceda of Albay’s 2nd District and Rep. Michael Romero of the 1-Pacman Partylist are the measure’s other primary authors.

HB 6683 would require the formation of a Productivity Incentives Committee (PIC) and the implementation of the Productivity Incentive Program in commercial organizations if it were to become law.

To develop and implement productivity incentive programs and to resolve disputes arising from their interpretation or implementation, the bill requires that a Productivity Incentives Committee be established in any business enterprise that employs ten or more employees. This committee must be made up of representatives from both management and labor, regardless of whether those labor representatives are members of a recognized labor organization or association.

The Productivity Incentives Program, in the meantime, will be based on the productivity improvement program that has been put in place, and it will not conflict with any corporate policies, programs, contracts, or collective bargaining agreements that offer higher productivity incentives.

Businesses that adopt the productivity incentive program and provide employees with training and special studies in accordance with the committee’s recommended program will receive tax incentives, with a special deduction from gross income equal to 50% of the total productivity incentives provided to employees under the program.

The law also requires that complaints and disputes related to how the Productivity Incentives Program is interpreted or implemented be settled within 15 days of receiving a formal complaint.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---