Property consultancy JLL Philippines said the Philippine Economic Zone Authority (PEZA) has noticed a downward trend on applications and registrations of information technology-business process management (IT-BPM) companies following the return-to-office order of the government.
JLL said some companies are considering withdrawing their PEZA applications, and applying for incentives under the Board of Investments (BOI).
Lizanne Tan, JLL Philippines head of Office Leasing Advisory, in a report said attributed the decline in PEZA registrations to the fact that hybrid work models are not being adapted yet.
On the transfer of some companies to BOI, Tan said “certain restrictions would still apply, and both organizations would need to reconvene on policies based on government shift and amendments on policies after election.’
“ It must also be noted that companies cannot simply shift from PEZA to BOI, as companies can only apply under BOI if it’s for an expansion or for a new project,” Tan said.
Tan’s observations are part of the findings of JLL’s Work Dynamics Pulse Survey, which showed that globally, 49 percent of organizations still have not developed a “future of work” program.
Tan said in the Philippines, there continues to be mixed views on return-to-office.
“Traditionally, the Philippines’ pillar of corporate culture is still having and being in a physical workspace; yet, this continues to move forward after two years of drastic changes brought about by the pandemic. We see that modifications are imperative,” Tan said.
While 30 percent work-from-home and 70 percent work-from-office is currently being implemented, Tan said “moving forward, both local and global organizations are anticipating possible employee resignations.” – Irma Isip
