Large firms in the Philippines have maintained or even increased their headcount amid the ongoing Covid-19 pandemic, according to survey data from the Management Association of the Philippines (MAP), the Institute of Corporate Directors (ICD), and the Makati Business Club (MBC) published by the Philippine News Agency.

Large enterprises in the Philippines are businesses that have more than 200 employees.

The survey, conducted from April 6 to May 16, found out that despite 61% of companies reporting a drop in revenues, 55% did not reduce the number of their workforce and even continued their hiring activities.

“A key objective of businesses is to create jobs and in a crisis like this, business’ top priority is to protect jobs and the health and safety of our people,” Makati Business Club chair Edgar Chua said.

According to the survey, 99% of businesses have given support to their workers amid lockdowns in the first year of the pandemic.

Nearly half, or 45% of the 200 surveyed executives said they have continued to pay for non-reporting regular employees, 31% of them were still paying for non-reporting contractual employees, while 30% continued paying for agency-hired employees.

The survey said 43% of companies also provided special financial assistance, advances, and loans for regular employees; 27% of firms have given the same assistance to contractual personnel; and 25% of the surveyed enterprises extended the assistance to agency employees.

For suppliers and contractors, 34% of firms said they have assisted them in terms of extending payment terms, discounts, and waived payments and rents.

Most large firms (73%) said they have provided support to healthcare workers during this pandemic through donating personal protective equipment, meals, and accommodation, as well as providing Covid-19 test and quarantine and isolation facilities.