Executive Summary Report
In view of the COVID-19 pandemic, the Employers Confederation of the Philippines (ECOP) conducted the COVID-19 Impact Assessment Survey to gauge the impact brought about by the pandemic on coronavirus disease (COVID-19), learn about corporate responses in terms of operations, work arrangements, and workforce planning, and get insights on what kind of support and intervention the companies need from both ECOP and the government. The survey was conducted from 27 March 2020 to 15 April 2020 garnering responses from 347 companies.
For the purpose of this survey, the 347 company respondents were categorized based on the number of employees, with micro enterprises employing 1 to 9 employees, small employing 10 to 99 employees, medium employing 100 to 199 employees, and large employing more than 200 employees. The respondents are composed of 17 micro enterprises, 115 small enterprises, 62 medium enterprises, and 148 large enterprises. The 347 respondents employ approximately 306,180 employees.
Survey results show that COVID-19 has significant impact on businesses not only in terms of operations but also in long-term investments and expansions, workforce planning, and job security of workers. The survey results also show that companies are implementing strategic measures to mitigate these impacts and lessen long-term effects to the business and its people.
Based on the survey, 26% of the companies are in total shutdown, 24% are observing slowdown of operations and workers are on skeletal workforce, 20% are on work-from-home arrangement, 1% are observing normal operations, while the remaining 29% specified other answers. In terms of the implementation of flexible work arrangements (FWA), 71% implement FWA, while 29% do not. FWAs being observed include telecommuting/work-from-home, forced leave, reduction of workdays, rotation of workers, reduced work hours, compressed workweek, broken-time schedule, flexi-holidays, and variations thereof.
In terms of investments and expansions, 67% said that their companies postponed expansion/investment decisions, while 33% said that they did not. Meanwhile, 38% said that it will take them one month to resume normal operations, 37% said two to three months, 14% said six months, while 11% said that it will take them over six months to one year to resume normal operations.
From these data, it is evident that while companies are implementing measures to cope up with the changes brought about by COVID-19, resumption of normal operations will take some time and inevitable long-term effects will still take place.
In terms of preparedness, 0.6% are very well prepared, 42.7% are well prepared, 34.2% are poorly prepared, 5.3% are very poorly prepared, while 6.1% said that no preparation is needed. This data is in direct correlation with the existence of a written business continuity plan (BCP) with the survey showing that 14% have BCP and found it useful in managing the impact of COVID-19, 25% have BCP, 28% do not have BCP but is currently developing one, 28% do not have BCP, while 5% said others.
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COVID-19 Impact Assessment Survey Analysis
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