As reflected in its Code of Conduct, Lopez Holdings considers its employees as its most important resource. The Company is committed to fostering a work environment in which employees are treated with respect and dignity.
Lopez Holdings strives to provide its employees opportunities for professional advancement, care for their professional needs and the enhancement of the quality of life of their families. It is committed to finding effective ways to foster professionalism, teamwork and employee participation to attain higher levels of productivity and quality.
The Company hires employees based on merit, qualifications, competencies, and potential. Employees are motivated and trained to achieve the highest level of efficiency and competence. Responsibility as good corporate citizens and members of society is impressed upon employees.
Lopez Holdings presently has 21 regular employees.
Training and Development
Lopez Holdings is committed to building and improving the knowledge and skills of employees at every level. To this end, the company has an established process for identifying the learning and development needs of employees, planning the necessary and appropriate training solutions/interventions as well as the resources needed to meet them, and linking these to the achievement of the corporate goals. To foster the continuing development of the knowledge and competencies of each and every employee, Lopez Holdings conducts continuous training based on a corporate learning and development plan that is reviewed and updated on an annual basis. This plan includes leadership training for those in leadership positions and behavioral and technical skills training for all.
A quality objective of the company is to have each and every employee undergo at least three (3) training man-days per year. In 2014, the Company’s employees underwent a total of 899 training hours, at an average of 42.81 training hours per employee covering 21 training courses with a total cost of Php1,173,388.75.
In 2014, the Company spent approximately P1.07 million for employees’ annual physical check-up, vaccines, and hospitalization benefits for employees and their dependents. The rate of absences on account of sickness continue to be almost nil. The company has continued implemented programs to build knowledge and better understanding of wellness in all its dimensions: physical, emotional, financial, as well as spiritual.
Among the projects that continued to be conducted in 2014 as part of its 20th Anniversary Celebration were the Biggest Loser which rewarded individuals who achieved improvements in health metrics; and learning sessions on various wellness topics, e.g. laughter yoga, achieving financial security through sound investing and engaging in entrepreneurial pursuits.
The Company ensures that employees are regularly oriented on such topics as maintaining safety in the workplace and preparing for and dealing with emergencies. There is an Environment, Safety & Health (ESH) committee that ensures that environment, safety, and health matters are well taken care of. To date, the company has had no incidents of injuries in the workplace. Employees participated in a Fire Exit Drill in November 2014 as part of it emergency preparedness. In April 2014, all employees attended a re-orientation conducted a third party emergency response provider.
The Company-issued survival kits were reviewed for any expired items. The kit contains items (e.g. water, canned food, blanket, light, medicines, etc.) to help employees survive should an unexpected calamity strike (e.g. a high intensity earthquake) while in the office.
Other benefits that cater to employee needs are life insurance coverage, vacation and sick leave entitlement, rest and recreation programs like the annual summer outing, and financial assistance in the form of loan facilities. Employees were also provided company uniforms to promote corporate identity and esprit de corps.
Employees Stock Purchase Plan and Employees Stock Option Plan
To date, a total of 96 employees and officers of Lopez Holdings, regular employees of its parent, Lopez, Inc., and eligible officers with the rank of at least vice-president of its subsidiaries and affiliates have subscribed to a total of 42,455,439 shares at Php4.573 per share under the corporation’s Employee Stock Purchase Plan (“ESPP”) for an aggregate of Php194,148,722.50. Payment for said ESPP subscriptions are being made over a period of five (5) years, with the first monthly or semi-monthly installment payment having been made on May 31, 2011. The right to fully pre-pay ESPP subscriptions accrued after a period of two (2) years. As of December 31, 2014, a total of 8,022,410 shares have been issued under the ESPP.
A total of 14 employees, officers and directors of the Corporation have applied for the option to subscribe to a total of 4,268,191 shares at Php4.573 per share for an aggregate of Php19,518,437.00 under the Corporation’s Employee Stock Option Plan (ESOP). As of December 31, 2014, actual ESOP shares subscribed and issued total 1,401,876 shares.