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MIPIM Asia Awards 2020 Winners Unveiled Today

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HONG KONG SAR – Media OutReach – 19 November 2020 – The Asia-Pacific’s most ambitious, innovative and revelatory real estate projects have been chosen as winners of the MIPIM Asia Awards 2020 – the leading regional property awards otherwise known as the “Oscars of the Asian real estate world”.

A total of 33 trailblazing property developments have been recognised with the influential industry honour at the continent’s leading property awards in Asia. Due to the global pandemic and flight restrictions, this year’s MIPIM Asia Awards Forum and MIPIM Asia Awards ceremony will embrace a digital format and be streamed live on 15 December 2020.

Founded in 2007, the annual MIPIM Asia Awards celebrate the most technically impressive and inventive property developments from across the APAC region, considering both finished developments and un-built projects in the planning stage.

The judging panel of 17 industry experts, chaired by François Trausch, CEO of Allianz Real Estate of Germany, reviewed a total of 114 entries, which were whittled down to the final 33 winners, drawn from 8 countries.

Members of the MIPIM Asia Awards 2020 judging panel are:

–       François TRAUSCH, Allianz Real Estate, CEO, Germany

–       George AGETHEN, Ivanhoe Cambridge, Senior Vice President, Asia-Pacific, Growth Markets, Hong Kong SAR

–       Margaret BROOKE, Professional Property, Services Group CEO, Hong Kong Heritage Chair, Hong Kong SAR

–       Henry CHENG, Chongbang Group, CEO & Executive Director, China

–       Stanley CHING, CITIC Capital Holdings, Senior Managing Director, Managing Partner & Head of Real Estate, Hong Kong SAR

–       Donald CHOI, Chinachem Group, CEO, Hong Kong SAR

–       Chris CHOW, LaSalle Investment Management, Managing Director, Hong Kong SAR

–       Harvey COE, Ernst & Young, Partner & Head of Greater China, M&A Real Estate, Hong Kong SAR

–       Alison COOKE, Starr International Investment Advisors (Asia) Limited, Managing Director – Real Estate, Hong Kong SAR

–       Tripp GANTT, Washington State Investment Board, Investment Officer Real Estate, USA

–       George HONGCHOY, Link Asset Management Limited, Executive Director & CEO, Hong Kong SAR

–       Charles LAM, Baring Private Equity Asia, Managing Director Real Estate, Hong Kong SAR

–       Nicholas J. LOUP, Chelsfield, Group Vice Chairman, CEO Asia, Hong Kong SAR

–       Ellen NG, Warburg Pincus, Managing Director, Hong Kong SAR

–       Shuji TOMIKAWA, Mitsui Fudosan Investment Advisors, Inc. (MFIA), President, Japan

–       Nicholas WONG, The Townsend Group, Principal, Hong Kong SAR

–       Richard YUE, ARCH Capital Management Company Limited, CEO & CIO, Hong Kong SAR

 

The final Gold, Silver and Bronze winners will be decided by online public vote between December 1 and 11. Results will be unveiled at the Awards Luncheon on December 15 at the Grand Hyatt Hong Kong and online on www.mipim-asia.com and on the MIPIM social media (Linkedin, Facebook and Youtube).

 

MIPIM ASIA AWARDS 2020 WINNERS

BEST GREEN DEVELOPMENT

 

K11 ATELIER King’s Road

Hong Kong SAR, China

Architect: P&T Architects and Engineers Limited

Developer: New World Development Company Limited

Other: P Landscape Co., Ltd., ESKYIU Ltd., Ove Arup & Partners Hong Kong Limited

 

Qianhai Kerry Centre

Shenzhen, China

Architect: Kohn Pedersen Fox Associates, Howeler+Yoon Architecture

Developer: Kerry Properties Limited, Phase One: Million Palace Development (Shenzhen) Co., Ltd.; Phase Two: Million Fortune Development (Shenzhen) Co., Ltd.; Phase Three:

Great Universe Development (Shenzhen) Co., Ltd.

Other: ALN Hong Kong (Landscape Designer), Woods Bagot (Retail Interior Designer)

 

Ronsin Technology Centre

Beijing, China

Architect: Victory Star Design

Developer: D&J China

BEST HOTEL & TOURISM DEVELOPMENT

 

Hebei Grand Hotel, Anyue

Shijiazhuang, China

Architect: LWK + PARTNERS

Developer: Hebei Zhonghong Real Estate Development Co., Ltd.


InterContinental Maldives Maamunagau Resort

Raa Atoll, Maldives

Architect: ECO-ID Architects Pte Ltd

Developer: Leisure Horizons Pvt Ltd

Other: ACID (Avalon Collection Interior Design)

 

Kyoto Higashiyama project (Sanso Kyoyamato – Park Hyatt Kyoto)

Kyoto, Japan

Architect: TAKENAKA CORPORATION

Developer: TAKENAKA CORPORATION

Other: Tony Chi (Interior Designer), Yasuo Kitayama (Landscape Architect)

BEST INFRASTRUCTURE, COMMUNITY & CIVIC BUILDING

ESR Amagasaki Distribution Centre

Amagasaki, Japan

Architect: Taisei Corporation

Developer: ESR Cayman Limited

Other: Taisei Joint Venture (Contractor), Takato Tamagami Architectural Design, Ltd.

(Amenity space Designer), Mio Watanabe Design Office, LLC. (Landscape Designer)

HeFei Fei River Central Smart Garden Library

Hefei, China

Architect: GEEDESIGN

Developer: Vanke

Museum Tower Kyobashi

Tokyo, Japan

Architect: NIKKEN SEKKEI LTD

Developer: Nagasaka Corporation & Ishibashi Foundation

BEST MIXED-USE DEVELOPMENT

 

Qianhai Kerry Centre

Shenzhen, China

Architect: Kohn Pedersen Fox Associates, Howeler+Yoon Architecture

Developer: Kerry Properties Limited, Phase One: Million Palace Development (Shenzhen)

Co., Ltd.; Phase Two: Million Fortune Development (Shenzhen) Co., Ltd.; Phase Three:

Great Universe Development (Shenzhen) Co., Ltd.

Other: ALN Hong Kong (Landscape Designer), Woods Bagot (Retail Interior Designer)

 

Shibuya station area redevelopment

Tokyo, Japan

Architect: Nikken Sekkei and Tokyu Architects & Engineers Project Consortium (Shibuya Hikarie), Tokyu Architects & Engineers (SHIBUYA STREAM), Shibuya Station District Development Project Consortium/ Nikken Sekkei + Tokyu Architects & Engineers + JR-East Design Corporation + Metro Development (SHIBUYA SCRAMBLE SQUARE); Shimizu Corporation (SHIBUYA FUKURAS)

Developer: Shibuya New Cultural District Project Promotion Council (Shibuya Hikarie); Tokyu Corporation and land proprietors of the area along Toyoko Line (SHIBUYA STREAM), Tokyu Corporation + East Japan Railway Company + Tokyo Metro co.,Ltd. (SHIBUYA SCRAMBLE SQUARE), Redevelopment association of Dogenzaka 1-chome (front of station) area (Participating member: Tokyu Land Corporation) (SHIBUYA FUKURAS)

Other: Tokyu Corporation (General Supervisor of SHIBUYA STREAM), CAt (Design Architect of SHIBUYA STREAM), Nikken Sekkei + Kengo Kuma and Associates + SANAA (Design Architect of SHIBUYA SCRAMBLE SQUAR), Nikken Sekkei (Master Architect of SHIBUYA FUKURAS), Tezuka Architects (Design architect of SHIBUYA FUKURA)

VICTORIA DOCKSIDE

Hong Kong SAR, China

Architect: Ronald Lu & Partners (Executive Architect & Authorised Person), Kohn Pedersen

Fox Associates (Design Architect & Facade Designer)

Developer: New World Development Company Limited

Other: New World Construction Company Limited (Main Contractor), Kohn Pedersen Fox Associates PC (Design Architect & Facade Designer), Ronald Lu and Partners (Hong Kong) Limited (Executive Architect & Authorized Person), James Corner Field Operations (Urban Planner and Landscape Design Architect), P Landscape Co., Limited (Landscape Design Architect), Urbis Limited (Executive Landscape Architect), C. M. Wong & Associates Limited (Civil/Geotechnical Engineer), Arup (Registered Structural Engineer), Tony Chi (Interior Designer of Rosewood Hong Kong and Rosewood Residences), Simplicity Design Studio (Interior Designer of K11 ATELIER), K11 in collaboration with Kohn Pedersen Fox Associates PC, AB Concept & LAAB Architects (Interior Designers of K11 MUSEA), AFSO Designs (Interior Designer of K11 ARTUS), LAAB Architects (Design Architect of Special Features), One Bite Design Studio Limited (Design Architect of Ancillary Facilities)

BEST OFFICE DEVELOPMENT

 

DaiyaGate Ikebukuro

Tokyo, Japan

Architect: NIKKEN SEKKEI LTD

Developer: Seibu Railway Co., Ltd. (Business Owner), Seibu Properties Co., Ltd.

(Business Agent)

 

K11 ATELIER King’s Road

Hong Kong SAR, China

Architect: P&T Architects and Engineers Limited

Developer: New World Development Company Limited

Other: P Landscape Co., Ltd., ESKYIU Ltd., Ove Arup & Partners Hong Kong Limited

Sequis Tower

Jakarta, Indonesia

Architect: Kohn Pedersen Fox Associates (Design Architect), Wiratman Architecture

(Architect of Record)

Developer: PT Prospero Realty

BEST REFURBISHED BUILDING

 

Grand Gateway 66 Renovation

Shanghai, China

Architect: Kohn Pedersen Fox Associates, ELENA GALLI GIALLINI LTD – Architecture &

Design

Developer: Hang Lung Properties

Other: GIRIMUN Architect (Retailer Planner), AGC Design Ltd (Executive Architect),

ELENA GALLI GIALLINI LTD – Architecture & Design (Interior Designer), Belt Collins international (HK) Limited (Landscape Architect)

Parkway Health Gleneagles Hospital

Chengdu, China

Architect: HKS Architect

Developer: Parkway Pantai

Other: EcoFace International Group

 

Rebuilding of Main Building of Daimaru Shinsaibashi Store

Osaka, Japan

Architect: NIKKEN SEKKEI LTD & TAKENAKA CORPORATION

Developer: Daimaru Matsuzakaya Department Stores Co., Ltd.

Other: The Preservation Review Committee consisting of academics, developers, architects, and constructors

BEST RESIDENTIAL DEVELOPMENT

 

Cloud Villa

Shanghai, China

Architect: Shanghai JUND Architects Co., Ltd.

Developer: Shanghai Haihui Real Estate Co., Ltd

EDEN

Singapore, Singapore

Architect: Heatherwick Studio

Developer: Swire Properties Ltd

Other: Unison (Main Contractor), RSP Architects Planners & Engineers (Executive Architect & Structural Engineer), Squire Mech (Mechanical & Electrical Engineers), Rider Levett Bucknall LLP (QS), COEN Design International (Landscape Architect), Ensemble (Executive Interior Designer), Heatherwick Studio (Interiors), The Lightbox Pte Ltd (Lighting Consultant)


Hadohilljo Townhouse

Jeju-do, South Korea

Architect: UNITEDLAB Associates LLC

Developer: DAEAE Development

Other: S5 Construction, Ltd. (Contractor)

BEST RETAIL DEVELOPMENT

 

K11 MUSEA

Hong Kong SAR, China

Architect: Ronald Lu & Partners (Executive Architect & Authorized Person),  Kohn Pedersen

Fox Associates PC (Design Architect & Facade Designer)

Developer: New World Development Company Limited

Other: New World Construction Company Limited (Main Contractor), Kohn Pedersen Fox Associates PC (Design Architect & Facade Designer), Ronald Lu and Partners (Hong Kong) Limited (Executive Architect & Authorized Person), WSP (Asia) Limited (Building Services Engineer), James Corner Field Operations (Urban Planner and Landscape Design Architect), P Landscape Co., Limited (Landscape Design Architect), Urbis Limited (Executive Landscape Architect), C. M. Wong & Associates Limited (Civil/Geotechnical Engineer), Arup (Registered Structural Engineer), K11 in collaboration with Kohn Pedersen Fox Associates PC, AB Concept & LAAB Architects (Interior Designers of K11 MUSEA), LAAB Architects (Design Architect of Special Features), One Bite Design Studio Limited (Design Architect of Ancillary Facilities)

Sanya CDF Mall II

Sanya, China

Architect: Benoy Limited

Developer: CITS

WITH HARAJUKU

Tokyo, Japan

Architect: TAKENAKA CORPORATION, Toyo Ito & Associates Architects

Developer: NTT Urban Development

Other: Xavier Veilhan (Artist of sculpture, La Statue de Harajuku), Hiromura Design Office (Sign and Graphic Designer), Sirius Lighting Office (Lighting Designer)

BEST URBAN REGENERATION PROJECT

Vanke ‘Sugar’ Town

Quanzhou, China

Architect: ateliercns (Guanqiu Zhong, Gang Song, Zhiyuan Zhu)

Developer: Vanke


Xi’an Dahua 1935

Xi’an, China

Architect: Woods Bagot

Developer: Fosun

 

Xuhui Runway Park

Shanghai, China

Architect: SASAKI, Scenic Architecture Office

Developer: Shanghai Xuhui Waterfront Development Investment Construction Co., Ltd.

Other: Shanghai Municipal Engineering Design Institute (Group) Co., Ltd. (Structural, Civil

and Electrical Engineer), Leni Schwendinger Light Projects Ltd. (Lighting Design Consultant), Arcplus Group Co. Ltd., Fluidity Design (Fountain Design Consultant), Shanghai Gardening-Landscaping Construction Co. Ltd. (General Constructor)

BEST FUTURA PROJECT

 

AIRSIDE

Hong Kong SAR, China

Architect: Ronald Lu & Partners (Executive Architect & Authorized Person), Snøhetta Overseas Architecture (Design Architecture)

Developer: Nan Fung Development Limited

Other: Ove Arup & Partners Hong Kong Limited (Structural, Geotechnical and Civil Engineer), Ove Arup & Partners Hong Kong Limited / J. Roger Preston Limited (Building Services Engineer), Urbis Limited (Executive Landscape Architect), Arcadis Hong Kong Ltd (Quantity Surveyor), Ove Arup & Partners Hong Kong Limited (Building Sustainability Engineer), Ove Arup & Partners Hong Kong Limited (Facade & BMU Engineer), Lighting Planners Associates (Lighting Designer), Hip Hing Construction Co., Ltd. (Main Contractor)

 

Anta Sports Campus

Shanghai, China

Architect: NBBJ

Developer: Anta Group

Commercial Development at Murray Road

Hong Kong SAR, China

Architect: Zaha Hadid Architects (London) in collaboration with Ronald Lu & Partners (Hong Kong)

Developer: Henderson Land Development Company Limited

Other: Zaha Hadid Architects (Design Architect & Interior Designer), Ronald Lu & Partners (Lead Architect & Authorized Person), WSP (MEP Consultant), C M Wong (Structural & Geotechnical Engineer), Ove Arup & Partners (Building Sustainability Consultant), LERA (Structural Steelwork Engineer), Thornton Tomasetti (Structural Peer Reviewer), Group 5F (Swiss Facade Consultant), Meinhardt Facade (Local Façade Consultant), Peter Walker and Partners (International Landscape Architect), Earthasia (Local Landscape Architect), Spiers + Major (Special Lighting Consultant), Lichtvision (Lighting Consultant), Atelier Pacific (Graphic & Signage Consultant), Eckersley O’ Callaghan (Glass Facade and Footbridge Consultant

BEST FUTURA MEGA PROJECT

 

Panlong Tiandi

Shanghai, China

Architect: Sasaki (Masterplanner), Ben Wood Studio Shanghai (Main Designer)

Developer: Shui On Land

Other: Tianhua, Design Land Collaborative, Archi-union

 

Tencent Dachanwan Net City

Shenzhen, China

Architect: NBBJ

Developer: Tencent

 

Xinyang University South Bay Campus

Xinyang, China

Architect: Sasaki

Developer: Xinyang University

 

For the photo of the winning projects, please visit here:


About Reed MIDEM

Founded in 1963, Reed MIDEM is an organiser of professional, international markets that are essential business platforms for key players in the sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIPJUNIOR in Cannes, MIP China in Hangzhou and MIP Cancun in Mexico for the television and digital content industries; MIDEM in Cannes for music professionals; Esports BAR in Cannes and in Miami for the esports business; MIPIM in Cannes, MIPIM Asia Summit in Hong Kong SAR, Propel by MIPIM — NYC in partnership with MetaProp, Propel by MIPIM – Paris and Propel by MIPIM – Hong Kong for the tech and real estate industry; MAPIC and LeisurUp in Cannes, MAPIC Russia in Moscow, MAPIC Italy and The Happetite in Milan, and MAPIC India in Mumbai for the retail real estate sector. www.reedmidem.com


About Reed Exhibitions

Reed Exhibitions is a leading global events business. It combines face-to-face with data and digital tools to help customers learn about markets, source products and complete transactions at over 500 events in almost 30 countries across 43 industry sectors, attracting more than 7 million participants. 


Our events, organised by 35 global offices, leverage industry expertise, large data sets and technology to enable our customers to generate billions of dollars of revenues for the economic development of local markets and national economies around the world. Reed Exhibitions is part of RELX, a global provider of information and analytics for professional and business customers across industries. www.reedexpo.com

 

For additional information about the MIPIM Asia Awards & Forum 2020, please visit here.

To register as press, please contact MIPIM Asia local PR partner.

Follow MIPIM: [View Image]Facebook Twitter [View Image]LinkedIn

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Zane Morton to oversee DHL Global Forwarding in New Zealand and Fiji

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  • The logistics veteran brings four decades of DHL experience to the key role in the South Pacific

SINGAPORE – Media OutReach – 1 December 2020 – As the business in DHL Global Forwarding New Zealand and Fiji continue on its growth trajectory, the freight specialist of the Deutsche Post DHL Group officially appoints Zane Morton as Managing Director for these two countries in the South Pacific effective today. Having built an illustrious career with the Group spanning almost four decades, Morton will lead the operations in New Zealand and oversee the growth of the business in Fiji, managed by Country Manager Ray Viegas, who will report to him.

[View Image]

 

“Across his many different roles and responsibilities, Zane has proven himself to be a respected leader, who is customer-oriented in his outlook and finely attuned to developments in the logistics and freight forwarding industry. We are confident he will help our businesses in New Zealand and Fiji reach greater heights amidst the current challenging microenvironment and augment existing synergies between our operations in New Zealand and Fiji,” said Charles Kaufmann, CEO, DHL Global Forwarding North Asia South Pacific.

 

New Zealand’s exports grew 58.6% in the last decade between 2009 and 2019. DHL Global Forwarding is optimistic about the growth potential in the market and considers perishables, life sciences and healthcare, amongst others, as promising areas that the company would further develop.

 

Reporting to Kaufmann in this new role, Morton said, “I’m acutely aware that I’m taking on the role at a very interesting time. In the short term, the industry will face a massive undertaking of delivering an unprecedented volume of more than 10 billion doses of vaccines worldwide; at the same time, DHL Global Forwarding is undergoing a digital transformation with the rollout of myDHLi in accordance to the Group’s Strategy 2025 to futureproof the organization and improve operational excellence in the long term. I am excited to lead the teams in New Zealand and Fiji to take on these challenges and leverage the opportunities to bring the business to greater heights.”

 

DHL recently published a white paper on securing a stable supply chain for vaccines and medical goods during health crises and how the transport of vaccines as a highly temperature-sensitive product can be managed effectively to combat the further spread of the COVID-19 virus. The global logistics leader has been serving the life science and healthcare sector for over 20 years, shipping all sorts of pharmaceutical and medical-related products, including vaccines and therapeutics, worldwide.

 

Morton first joined DHL in New Zealand in 1983 and held various positions during his career, including Operations Management, Country Sales & Marketing Manager, Country Ocean Freight Manager and Wellington Branch Manager. In 2006, he relocated to Dubai where he was the Regional Marketing and Sales Manager for DHL Middle East and Africa for DHL Global Forwarding. He returned to New Zealand in 2011 and was appointed Head of Ocean Freight in 2012, and subsequently named Head of Sales in 2015.

 

Note to editors:

The New Zealand- Europe FTA represents an opportunity to gain better access to the bloc’s almost 500 million consumers through lower tariffs, and new multi-modal shipping options could also lead to even more savings for importers. Read more on DHL’s Logistics of Things.


DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 63 billion euros in 2019. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve zero-emissions logistics by 2050.

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Blake Dair Announces New Managing Partner

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SINGAPORE – Media OutReach – 1 December 2020 – Blake Dair Consulting Pte Ltd, the Singapore based front office trading and technology specialist recruitment company, would like to announce that Nafisa Manasawala will be appointed as Managing Partner of the business from 1st December 2020.

Nafisa has more than 20 years experience in top tier banking as a successful private banker, executive search recruiter and internal talent acquisition specialist. She has worked with banks like Merrill Lynch, Standard Chartered, Credit Suisse and Morgan Stanley. Nafisa combines team management experience with hands-on recruitment experience and deep business understanding, making her a trusted strategic partner in talent management and acquisition.

Nafisa commented, “I am excited to join an established recruitment firm such as Blake Dair Consulting and keen to contribute to the growth of the company through exceptional client service and candidate advisory. My first priority is to build the team selectively, to deepen our experience pool and enhance our market reach.”

“Nafisa joining is fantastic for the team at Blake Dair,” says James Ient, the Founding Shareholder. “The experience Nafisa brings to Blake Dair really helps us achieve our objective of being the preferred employer and preferred vendor in this sector.”

Blake Dair Consulting is a specialist recruitment firm operating in Singapore since 2011 that services clients with roles in Japan, Hong Kong, Malaysia and Singapore in Front Office, Trading and Trading Technology.

+65 67213050

[email protected]

www.bdc.sg

 

Employment Agency License: 11C2852

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Salaries set to rise in 2021, but employers in the Philippines signal increased caution, says Mercer survey

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  • Companies forecast a 5.6% overall increase in salaries for 2021, but more than half say they expect changes to salary increment levels.
  • Nearly seven in 10 companies have implemented a hiring freeze
  • 14% of companies expect lower bonus payouts for 2021, with one in two stating it is too early to tell

MANILA, PHILIPPINES – Media OutReach – 1 December 2020 – Salaries in the Philippines are projected to increase in 2021 despite the economic fallout from the coronavirus pandemic. Companies in the Philippines are forecasting an average 5.6% overall increase in salaries for 2021, up from 5.3% this year.

 

This is according to the annual Philippines Total Remuneration Survey (TRS) 2020 by Mercer, a global consulting leader in talent, health, retirement, and investments. The survey polled 416 companies across multiple industries in the Philippines between April and June this year, with additional surveys conducted in July and August in light of the fast-changing market environment.

 

The projected salary increments come on the back of an uncertain economic outlook for the Philippines, with Gross Domestic Product (GDP) expected to contract by 8.3% this year. While growth is expected to rebound to 6.5% [1]in 2021, downside risks such as a slower-than-expected global recovery that could weigh heavily on trade and investment, have resulted in caution among companies.

 

Floriza Molon, Mercer’s Career Business Leader for the Philippines said, “Due to the uncertainty, more than half of the companies have indicated that they will delay the increase of salaries or revise salary increment levels. With sustained pressure on businesses to keep costs down, we see that companies are taking a cautious approach with regards to salary budgets.”

 

Across industries surveyed, the Chemical industry is expected to see the biggest rebound in salary increments at 5.5% in 2021, up from 3.9% in 2020. The Consumer, Life Sciences, Energy as well as Retail and Wholesale industries also saw slight increases compared to last year.

Ms Molon added, “While the salary increase budget remains stable in spite of the pandemic, what we are seeing is that companies are increasingly prudent with their compensation policies as well as the allocation of the salary budget. Some of the considerations include how business-critical the roles are, the potential and performance of the employees, flight risk and availability of jobs in the market.” 

Variable Bonuses for 2020 remained stable, but decreases expected in 2021


Overall, average budgeted bonuses for 2020 dipped slightly at 16%, compared to 17% in 2019. The Life Science industry saw the highest increase at 23% compared to 20% in 2019, while bonus payouts decreased in the Consumer, Logistics and Shared Services & Outsourcing industries.

Ms Molon said, “91% of companies provided bonuses in 2020, reflecting their strong performance in 2019. However, we foresee a decrease in bonus payout in 2021 due to the uncertain economic environment.”

Looking ahead, 14% of companies expect the bonus payout for 2021 to be less than the previous year, while 50% say it is too early to tell. Only 8% of companies expect budgeted bonuses to increase in 2021.

With the cautious business outlook, recruitment efforts are expected to slow in the year ahead. 69% of companies in the Philippines indicated that they have imposed a hiring freeze in 2020, with 10% reducing headcount due to the pandemic.

Embracing Flexible Working


The survey has also seen a shift to remote working arrangements among companies in the Philippines. 67% of the organization have implemented remote working arrangements in response to the COVID-19 outbreak with 58% projecting that employees will be more likely to use flexible working arrangement post-pandemic.

Teng Alday, Mercer’s CEO for the Philippines said, “Companies in the Philippines have successfully implemented flexible work arrangements amid the pandemic, with only 14% of companies stating a decrease in the level of productivity. We foresee more employers embracing flexible working arrangement which provides an opportunity for companies to review their compensation and total rewards packages more holistically to adopt variable pay and other reward initiatives such as work-from-home allowances to recognise and retain critical talent.

“As the financial impact of the pandemic continues to play out, companies are taking a cautious approach in light of cost pressures and the need to protect their core business. We encourage companies to adopt strategies that balance economics and empathy as employee engagement and retention will be critical in their road to recovery.”

About Mercer’s Total Remuneration Survey

The Total Remuneration Survey, Mercer’s flagship annual compensation and benefits benchmarking study, identifies current pay practices and benefits policies, as well as budget, hiring and turnover trends for the year ahead. In addition, Mercer also conducts regular pulse surveys throughout the year to keep up with the impact of the rapidly changing business environment and compensation and workforce trends.

For more data and insights from Mercer’s Philippines Total Remuneration Survey 2020, please see here.

About Mercer

Mercer builds brighter futures by redefining the world of work, reshaping retirement and investment outcomes, and unlocking real health and well-being. Mercer’s more than 25,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a business of Marsh & McLennan (NYSE: MMC), the world’s leading professional services firm in the areas of risk, strategy and people, with 75,000 colleagues and annualized revenue approaching $17 billion. Through its market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter [View Image]@Mercer.

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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