ALLOW ME to offer unsolicited advice to President Aquino so he can lick, once and for all, both poverty and corruption. I believe “the silver bullet” to totally eliminate poverty and corruption from the face of the Philippines has been within our reach all along, right under our noses. It is Christ’s injunction: Love your neighbor as yourself.
By this I mean not only for employers to pay their workers the minimum wage required by law (which is still barely enough to get employees and their families above the poverty line). I also mean that employers should give their workers the opportunity to become materially richer. How? Not through wage-increase but through profit-sharing.
With profit sharing, the poor get to better their lot and climb to the middle-income bracket; their purchasing power grows and enables them to buy more and better-quality products and services at higher prices, thus perking up businesses and enriching the rich even more.
Also, with profit-sharing, the workers’ mind-set will change and they will think and behave differently. Made to feel like part-owners, they will become more productive. Without being told, they will propel company earnings, cut costs and conserve cash. And when a business expands driven by a highly motivated workforce, there will be a need to hire more people, thus creating more jobs and reducing unemployment.
With profit-sharing being practiced by all sectors of the economy, we can expect our economic growth rate to exceed 10 percent per year and become sustainable.
—WILLY E. ARCILLA,
president, Business Mentors Inc.,
willyarcilla@yahoo.com
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