Albay Rep. Joey Salceda calls for an update to the government-owned and controlled corporations' (GOCCs) salary schedule, emphasizing the need for competitive compensation to attract and retain top talent.
Albay 2nd district Rep. Joey Salceda urged the Governance Commission on GOCCs (GCG) to update the three-year-old salary schedule for employees of government corporations, emphasizing the importance of competitive compensation to attract and retain top talent.
Salceda, chairman of the House Committee on Ways and Means, pointed out that the Compensation and Position Classification System (CPCS) for GOCC employees was last updated in 2021, while Executive Order (EO) 150 mandates its review by October 2024. He expressed concern that the delay in updating the CPCS, coupled with a significant increase in the cost of living, could lead to a decline in purchasing power for GOCC employees and hinder the ability to attract qualified personnel.Salceda highlighted that the current compensation levels are potentially insufficient compared to what individuals with similar skills and experience can earn in the private sector. He stated that many highly skilled professionals could earn as much or more as stay-at-home virtual assistants, making it challenging to compete for talent in the GOCCs. He stressed that a timely update of the CPCS is crucial to ensure that GOCCs can offer competitive salaries and retain their valuable workforce.Furthermore, Salceda urged the GCG to address pending requests from sui-generis GOCCs for reviews of their compensation schedules. He emphasized that the performance of GOCCs is commendable, with remittances exceeding targets in 2024, and that a well-compensated workforce is essential to maintain this level of success. He proposed a linkage between CPCS increases and higher revenue and dividend targets for GOCCs, ensuring that the investment in employee compensation translates into tangible benefits for the government. Salceda concluded his statement by reiterating the need for a fair and timely update of the CPCS to recognize the contributions of GOCC employees and support the continued success of these vital organizations
Goccs Salary Schedule Compensation Executive Order Albay Rep. Joey Salceda Governance Commission
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