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2013 Mid-Year Diversity Report

1. Introduction

This report is in compliance with the recommendations under the System-wide Governance
Assessment* initiative as approved by the Monetary Board (MB) under its Resolution No. 1467
dated 21 October 2010 to address perceptions of iniquitous application of policies on
compensation and benefits, and training opportunities in the Bank.

2. The BSP Governance Paradigm

Governance, which is defined as a set of principles directed towards achieving positive


organizational performance and high stakeholder trust, is a shared responsibility of all BSP
personnel. It shall ensure that the principles of integrity, fairness, independence, accountability
and transparency, ownership and voice, strategic direction and responsiveness are woven in
every BSP employee’s work ethic, which enables one to give the best possible service to the
nation and countrymen.1/

In keeping with the principle of integrity, fairness and independence, policies and
regulations shall be implemented uniformly and consistently in order to manage perceptions of
discrimination and inconsistent enforcement of internal policies. 2/

3. Objectives

The BSP Mid-year Diversity Report aims:

a. To show the demographic composition of the Bank in terms of certain types of diversity
such as gender, age, educational attainment, and religious affiliation;
b. To include the results of a related study on of the level of diversity awareness of the BSP
personnel3/; and
c. To describe the BSP programs that support BSP employees’ diverse needs.

4. Scope and Limitations

This report describes certain demographic profile of the BSP workforce based on employee
profile data as of 30 June 2013 and compared with 2012 data. The data helped identify the
profile, gender differences, and perceptions on diversity of BSP employees.

1/BSP Governance Report at http://bsp-iws.bsp.gov.ph/cpo/index.php?option=com_content&view=article&id=53&Itemid=67


2/Ibid.
3/ Ginete, D. (2011). Development of a diversity framework at Bangko Sentral ng Pilipinas. Manila.
*An initiative of the BSP undertaken and completed with the Development Academy of the Philippines in 2010.

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The analysis of the level of diversity awareness among BSP employees is limited to and
represented by the results of the independent study conducted by Mr. Dexter Ginete.

5. Subjects and Sampling

The report represents the BSP total population of 5,404 as of 30 June 2013. Data on
demographics were generated from the BSP Human Resource - Systems Applications Products
(SAP).

6. Results

6.1 Diversity Profile of BSP Employees

This profile takes into consideration demographical data such as gender, age, years
of experience, educational attainment, religious affiliation, job level, among other factors
that influence the diversity profile and perception in the Bank.

a. In general, the demographic profile of BSP shows diversity in terms of awareness,


acceptance and equality of diverse perspectives and backgrounds of employees at work,
availment of training opportunities, among others.

b. There are more male than female employees. A comparative data on the gender
distribution of BSP population in 2012 and 2013 shows consistency whereby majority
are male employees. This means that for every 100 female employees, there are
approximately 18 more male employees. The security workforce, which is composed
mostly of male employees account for the larger male population.
Table 1. Number of Male and Female Employees
Total
Gender
2012 2013 Variance
Male 2,880 (54%) 2,935 (54%) 0
Female 2,408 (46%) 2,469 (46%) 0

Table 2. Gender Mix by Average Age


The average age of the female employees went up by one year while the male
employees’ average age remained the same.
Average Age
Gender
2012 2013 Variance
Male 44 44 0
Female 41 42 1

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c. Gender mix in the security unit. Only a small percentage (8%) in the security workforce
are female. The gender distribution remained the same since 2008.

Table 3. Gender Mix in the Security Force


Gender 2008 2009 2010 2011
2013 2012
(30 June)
No. % No. % No. % No. % No. % No. %
Male 326 92% 326 92% 328 92% 328 92% 327 92% 326 92%
Female 30 8% 30 8% 30 8% 30 8% 29 8% 29 8%
Total 356 100% 356 100% 358 100% 358 100% 356 100% 355 100%

d. There are more females among BSP officers. Table 4 shows that of the 667 employees
holding officer-level positions, 411 are females. This means that there are approximately
61 more females for every 100 males occupying officer-level positions.

While there are no females in the top executive positions (Deputy Governor and up),
they make up the bigger number of those holding executive-level positions from Deputy
Director up to Assistant Governor. Records also show that there had been female
members of the Monetary Board and a female Deputy Governor.

Table 4. Gender Mix by Officer Positions


2012 2013
Position
Male Female Male Female
Deputy Governor 3 0 3 0
Assistant Governor/Managing Director 8 10 6 9
Director 18 22 18 24
Deputy Director and equivalent 54 87 50 86
Manager and equivalent 182 290 179 292
Total 265 409 256 411
Percentage 39% 61% 38% 62%
Note: Officer positions refer to Manager and up

In the security workforce, two out of the 12 officers are females.

e. Gender Mix by Experienced Hires. Regardless of gender, the number of new hires with
years relevant work experience of one year to three years has gone down.

Table 5. Gender Mix by Experienced Hires


2012 2013 Variance
Gender 1-3 years >3 years 1-3 years >3 years 1-3 years >3years
experience experience experience experience experience experience
Male 99 83 64 89 -35 6
Female 104 53 38 43 -66 -10
Sub-total 203 136 102 132
Total 339 234

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Regardless of gender, there were more new hires with previous work experience. In
terms of gender distribution, among the new hires with work experience, the males
outnumbered the females (Table 5).

f. More females are promoted. The table below shows that while there were more males
hired in 2012 and 2013, and for every 100 of them who were promoted, 67 more
females got promoted.

However, while there were more female personnel who were promoted in 2012 and
2013, the results of the 2013 Organizational Climate Survey, showed that the male
employees had higher appreciation for the growth and development facet. The male
respondents rated the facet, which is associated with promotion and training
opportunities, good with a mean score of 4.99. The female respondents also rated it
good, but with a mean score of 4.86.

Table 6. Gender Mix by Promotion (Officer-Level) Positions


Position 2012 2013
Male Female Male Female
Deputy Governor 1 0 2 0
Assistant Governor/ 4 9 4 7
Managing Director
Director 20 22 20 20
Deputy Director and equivalent 50 81 47 82
Manager and equivalent 131 221 128 227
Total 206 333 201 336
Percentage 38% 61% 37% 63%

g. Gender Mix by Educational Attainment. Tertiary education or college level is the


highest educational attainment of majority of BSP employees; 1,768 of whom are males
and 1,384 are females. This is followed by Masters Degree with 586 male degree holders
and 1,034 female degree holders, then by High School graduates consisting of 286 male
and 14 female employees.

Table 7. Gender Mix by Educational Attainment


Educational 2012 2013
Attainment Male Female Male Female
Elementary 4 0 3 0
Certificate Course 6 1 6 1
Two-year course 67 9 66 11
Vocational/Technical 167 5 169 5
Diploma Course 4 0 286 14
High School 296 14 286 14

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College 1,733 1,371 1,786 1,384
Masters 617 1,041 586 1,034
Doctorate 17 26 18 25
Total 2,911 2,467 3,206 2,488
Percentage 54% 46% 60% 44%

h. Gender Mix by Religious Affiliation. Most BSP employees are Roman Catholics (72%) as
shown in Table 8.

Table 8. Gender Mix by Religious Affiliation


Religious Affiliation 2012 2013
Total Total
Male Female Male Female
Apostolic 0 0 0 1 -- 1
Baptist 24 13 37 26 18 44
Charismatic Church 1 -- 1 1 -- 1
Christian Reformed 23 21 44 30 27 57
Evangelical 9 7 16 13 12 25
Islamic 1 -- 1 2 1 3
Israelite -- -- 0 1 -- 1
Jehovah’s Witness 5 8 13 8 8 16
Jewish Culture Tax 12 11 23 11 8 19
Mennonite Church -- -- 0 -- 1 1
Mohammedan 8 6 14 7 5 12
Mormon 3 -- 3 4 -- 4
Muslim -- -- 0 -- 1 1
Pentecostal Church 4 2 6 5 2 7
Protestant 37 40 77 40 45 85
Roman Catholic 2,048 1,798 3,846 2,034 1,833 3,867
Unaccounted 1,207 1,207 750 508 1,258
Total 5,288 5,402

i. Gender Mix by Leavers. There are more female than male employees who have
retired or resigned from the Bank. Table 9 shows that there were more females than
males who retired/resigned in 2013. A greater portion of male employees
retired/resigned during the period 2008 to 2012 June.

Table 9. Number of Male and Female Leavers


Gender 2012 2013 Total
(as of 30 June)
Male 123 56 179
Female 86 95 181

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j. Gender Mix by Leavers on a Five-Year Period. More male employees than female
employees left the BSP thru various modes of separation. Table 10 shows that early or
optional retirement has been the main mode of separation for BSP employees since
2008 with a total of 531 male and 410 female availees. The average ages of male and
female retirees/resignees are 59 and 54, respectively. This is followed by the
compulsory retirees with 182 males and 94 females.

It may be noted that there was an increase in the voluntary mode of separation in 2012
compared to the 2011 records; 21% of those who availed themselves of the
optional/early retirement held managerial and up positions. These are mostly the Baby
Boomers who left a significant percentage of critical positions vacant. With the possible
retirement of most of the Baby Boomer generation in the next five to ten years, the
BSP’s age diversity profile is likely to change.

Table 10. Gender Mix by Leavers on a Five-Year Period based on Mode of Separation

Number of Employees
M (Males); F (Females)
Mode of
2013
Separation 2008 2009 2010 2011 2012
(Q1-Q3)
M F M F M F M F M F M F
Compulsory
43 19 18 16 22 11 38 18 39 17 19 16
Retirement
Early Retirement
49 52 357 199 36 33 53 42 64 58 64 35
- Optional
Early Retirement -
0 0 9 4 0 0 0 0 0 0 0 0
Redundancy
Resignation 9 4 8 4 5 12 5 7 6 5 5 3
Transfer to other
0 0 0 0 0 1 0 0 0 1 0 0
government agency
End of Contract 8 4 0 0 3 4 6 3 4 6 1 1
End of Term 8 1 0 0 4 2 12 10 0 0 0 0
Invalidation of
0 0 0 0 0 1 0 0 0 0 0 0
appointment
Dismissal 1 0 2 0 1 0 1 0 0 0 0 0
Dropped from the
2 0 0 1 0 0 1 0 0 1 1 0
rolls
Death in service 15 5 11 1 8 2 15 2 0 2 0 1
Total 135 85 603 225 79 129 176 82 113 144 90 56
Percentage 61% 39% 73% 27% 38% 62% 68% 32% 44% 56% 62% 38%

k. Gender Mix by Leavers based on Age. Majority of leavers are aged 61-65 years old
followed by those who are 56-60 years old. This is consistent with the previous table
showing optional retirement as the top mode of employee separation.

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Table 11 . Gender Mix by Age of Leavers
2012 2013
Age Bracket
Male Female Male Female
Below 40 years old 14 24 14 15
40-45 years old 3 1 3 1
46-50 years old 3 2 1 0
51-55 years old 3 2 5 0
56-60 years old 6 11 20 10
61-65 years old 69 38 51 30
66-70 years old 17 11 1 0
71 years old 0 0 0 0
TOTAL 115 89 99 56

l. Gender Mix by Age Generation. Majority of BSP employees are Baby Boomers (born
1946-1964) followed by those belonging in the Generation X (1965-1980).

Table 12. Gender Mix of BSP Personnel by Age Group


2012 2013
Generation
Male Female Male Female
Mature Generation (1909-1945) 4 1 4 1
Baby Boomer (1946-1964) 1,240 945 1,129 891
Gen X (1965-1980) 1,005 790 1,034 788
Gen Y (1981-1999) 662 731 760 794
Millenials (2000 onwards) 0 0 0 0
Total 2,911 2,467 2,927 2,474
Percentage 54% 46% 54% 46%

Generational mix provides an example of diversity in action (Schermerhorn et al., 2011).


This is evident in the BSP as shown in Table 12. The source of divergence across this
generation mix is perception on work ethic. Baby boomers believe that Millenials are
not hard working and are too “entitled”, always conscious of what they should be
getting from the organization. On the other hand, Millenials believe baby Boomers and
Gen Xers are more concerned about the hours they work than what they produce. The
Millenials also value flexibility, fun, the chance to do meaningful work right away, and
“customized” careers that allow them the choice to go at the pace they want
(Schermerhorn et al., 2011).

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6.2 Training Participation

In its desire to create an environment for continuous learning and development, the
Bank makes available more training opportunities to its employees. Local and foreign
trainings cater to the needs of the employees and the Bank 3, provided the employees
meet the following qualifications:

a. Has permanent appointment4/


b. Has rendered two years of service in the BSP including contractual services;
c. Is within the serviceable age, i.e., would be able to complete the required service
obligation;
d. Has an average performance rating of Commendable (or its equivalent) for the last
two rating periods;
e. Is fit to pursue the program to its conclusion to be certified by the Health Services
Office; and
f. Has no pending administrative case or be serving penalty on an administrative
offense at the time the participation to the foreign training is approved.

The BSP Foreign Training Policy5, provides that, “The Bank sends qualified personnel
to training abroad to strengthen their capability through acquisition of new
knowledge and skills, benchmarking on global trends and best practices, exposure to
cutting-edge technologies and exchanging views with professionals of other central
banks, academic experts on central banking policies and operations and financial
market regulations.”

Table 13. 2012 Participation in Bankwide Training


Participation Functional foundation skills others leadership and TOTAL
development management
In-House
EMS 57 116 138 28 60 399
MSS 817 385 256 195 89 1,742
RMS 697 332 215 73 124 1,441
SES 5,351 466 164 36 65 6,082
SPC 91 131 129 132 23 506
Sub-Total 7,031 1,430 902 464 361 10,170
Local Training
EMS 183 0 11 4 6 204
MSS 59 0 16 20 9 104
RMS 255 0 7 10 17 289
SES 77 0 13 0 20 110
SPC 55 0 10 8 4 77
Sub-Total 629 0 57 42 56 784

3/BSP Training Policies, Ref. No. BSPITP.1007.00, Chapter VII, Foreign Training , Page 2.
4/ In meritorious cases, the Governor may allow exemptions for contractual personnel upon recommendation of the Foreign
Travel Committee;
5/BSPI Training Policies, ref. No. BSPITP.1007.00, Chapter VII, Foreign Training, Page 8
1.
Local Non-Training
EMS 0 0 0 0 0 0
MSS 0 0 0 0 0 0
RMS 61 4 0 0 6 71
SES 155 0 0 0 3 158
SPC 13 0 0 0 1 14
Sub-Total 229 4 0 0 10 243
Foreign Training
EMS 5 0 6 0 5 16
MSS 4 0 4 0 4 12
RMS 3 0 0 0 3 6
SES 3 0 7 0 3 13
SPC 1 0 1 0 1 3
Sub-Total 16 0 18 0 16 50
Foreign Non-Training
EMS 20 0 0 0 0 20
MSS 21 0 0 0 0 21
RMS 9 0 0 0 1 10
SES 19 0 0 0 0 19
SPC 2 0 0 0 0 2
Sub-Total 71 0 0 0 1 72
TOTAL 7,976 1,434 977 506 444 11,337

Office Order No. 1009, Series of 2012 revised the rules and regulations governing the
BSP Educational Scholarship and Training (BEST) Program to relax the age limit for Deputy
Directors and up and its equivalent from 40 to 55 years old at the official start of classes.

Table 14. 2012 Participation in Bankwide Training (in terms of number of offerings and
number of hours)
Course Category skills leadership &
functional foundation others Total
dev’t. management
In-House 7,013 1,430 902 464 361 10,170
Training 629 0 57 42 56 784
Non-
Local 33 0 0 2 5 40
Training
Total Participati 662 0 57 44 61 824
Training on 433 5 1 1 22 462
Non-
Foreign 71 0 0 0 1 72
Training
Total 504 5 1 1 23 534
Total 8,179 1,435 960 509 445 11,528
In-House 130 58 50 21 15 274
Training 247 0 29 22 16 314
Non-
Local 10 0 0 2 4 16
Training
No. of
Total 257 0 29 24 20 330
Offerings
Training 301 3 1 1 12 318
Non-
Foreign 46 0 0 0 1 47
Training
Total 347 3 1 1 13 365

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Total 734 61 80 46 48 969
In-House 29,292.5 21,356 16,674.5 8,249 17,321 92,893
Training 29,284.5 21,356 16,674.5 8,241 17,321 92,877
Non-
Local 16.02 0 0 76.04 0 92.06
training
Total No. of 29,300.52 21,356 16,674.5 8,317.04 17,321 92,969.06
Training Hours 14,443.51 0 640 0 344.06 15,427.57
Non-
Foreign 321.06 0 0 0 0.07 321.13
Training
Total 14,764.57 0 640 0 344.13 15,748.70
Total 73,357.59 42,712 33,989 16,566.04 34,986.13 201,610.76

Table 15 illustrates how bankwide average training (local and foreign) is available to all
personnel regardless of age group. For local trainings, the highest average number of training
per employee is 6.29 or 6 trainings. On the other hand, the highest average number of foreign
training per employee is 2.00. To ensure continuous learning and development of employees
consistent with its training policy, the Bank highly invests in training for personnel between
ages 24-41 and between ages 48-60.

Similarly, Annexes A and B illustrates how bank-wide local and foreign trainings are
available to all personnel regardless of rank. From the data, the Bank highly invests in training
for personnel exercising functions in the fields of economics, research, finance, statistics, law,
currency operations, bank examination, information technology, treasury operations, human
resources, among others.

Table 15. 2012 Participation in Bankwide Training


(in terms of local and foreign trainings, age and number of participants)
LOCAL TRAININGS FOREIGN TRAININGS
Age Total Participants Average Total Participants Average
21 5 3 1.67
22 44 12 3.67
23 107 17 6.29
24 157 49 3.20 1 1 1.00
25 247 64 3.86 3 3 1.00
26 447 106 4.22 5 4 1.25
27 742 164 4.52 7 7 1.00
28 845 168 5.03 3 3 1.00
29 872 160 5.45 12 12 1.00
30 570 155 3.68 14 14 1.00
31 525 161 3.26 18 18 1.00
32 457 146 3.13 24 22 1.09
33 458 151 3.03 23 22 1.05
34 593 147 4.03 30 28 1.07
35 327 105 3.11 18 18 1.00
36 468 118 3.97 30 27 1.11
37 398 117 3.40 25 25 1.00
38 249 78 3.19 22 20 1.10
39 222 76 2.92 18 17 1.06

10
40 207 54 3.83 12 9 1.33
41 125 44 2.84 11 11 1.00
42 55 29 1.90 4 4 1.00
43 97 41 2.37 5 5 1.00
44 92 28 3.29 7 5 1.40
45 49 27 1.81 5 4 1.25
46 79 33 2.40 5 5 1.00
47 73 34 2.15 4 3 1.33
48 120 45 2.67 14 11 1.27
49 160 47 3.40 16 14 1.14
50 188 68 2.76 23 20 1.15
51 174 64 2.72 16 13 1.23
52 198 72 2.75 16 14 1.14
53 149 68 2.19 14 12 1.16
54 205 64 3.20 24 17 1.41
55 141 68 2.07 8 7 1.14
56 203 64 3.17 15 13 1.15
57 117 65 1.8 8 8 1.00
58 173 67 2.58 12 7 1.71
59 188 82 2.92 15 10 1.5
60 118 74 1.59 11 11 1.00
61 92 54 1.70 10 5 2.00
62 92 58 1.59 7 6 1.17
63 57 43 1.33 5 5 1.00
64 52 40 1.30 7 4 1.75

6.3. The BSP Organizational Climate Survey (OCS) on Diversity

a. Perceptions on Diversity. In the 2013 OCS with 3,375 employee-respondents or 63%


of the BSP population of 5,381, diversity was one of the 11 facets assessed based on
statements 11 and 22 in the survey questionnaire (Table 16). Diversity is defined as
“the extent to which the Bank’s culture accommodates a workforce with diverse
perspectives and backgrounds, including age, education, social affiliation, etc.”

Table 16. Results of OCS Items on Diversity


Items Mean Interpretation of Scores

11. The Bank respects its employees' 4.97 (good) Interpretation of Scores
individuality and differences.

(Iginagalang ng Bangko ang


pagkakasarinlan o indibidwalismo at ≥ 5.5 Excellent
pagkakaiba-iba ng mga empleyado.)
≥ 5 but < 5.5 Very Good
22. All employees, regardless of age, 4.79 (good)
≥ 4.5 but < 5 Good
gender, religion and position adhere to

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personnel policies of BSP. ≥ 3.5 but < 4.5 Needs
Improvement
(Lahat ng empleyado sa BSP, anuman ang
gulang, kasarian, relihiyon at antas, ay < 3.5 but ≥ 2 Poor
sumusunod sa 'personnel policies' nito.)
≥ 1 but < 2 Very Poor

Average 4.88 Good

b. There is a perceived good presence of diversity in the Bank. Table 16 shows the
level of agreement of BSP employees on two items on diversity highlighted in the
OCS. The mean score in the 2013 OCS for the diversity facet (4.88) is higher than the
mean score in 2012 OCS (4.72).

c. The more senior employees are more positive about diversity in the BSP compared
to other employees. The 2013 OCS results further showed that employees who are
51 years old and above perceive diversity is most present in the Bank, while those
who are 40 years and below find it least present. Also, employees who have been in
the Bank for more than 21 years believe that diversity is very good while employees
who have been employed in the Bank for less than 10 years rated it merely good.
The results further showed that while upper management (JG-16 and above)
perceive the Bank’s diversity to be very good (M=5.38), the rank and file rated this
facet to be merely good (M=4.96).

d. Security Plant Complex (SPC) employees have higher appreciation of the diversity
climate than the employees in the other sectors. SPC personnel gave diversity a
very good rating (M=5.01) while the BSP sectors and the Executive Management
Services rated it good only.

e. There is perceived inconsistencies in the application of certain personnel policies.


In the open-ended questions in the OCS respondents expressed that policies should
be uniformly applied, regardless of rank. The wearing of uniform and corporate
attire, including the attendance to flag-raising ceremonies and logging in of officers
thru honesty system were some of the identified administrative concerns where
rules have been perceived to have not been strictly enforced.

6.4 Independent Study on Diversity in the BSP

a. Schermerhorn et al. (2011) discussed that the concept of putting value on diversity
in organization emphasizes appreciation of difference and in creating a setting
where everyone feels valued and accepted. An inclusive culture that values
differences and does not require extensive requirements to fit in may help promote
diversity in the workplace.

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b. In his study*, Dexter Ginete provided recommendations that will integrate diversity
in relevant BSP programs.

The aim of his study which involved 13% of the BSP’s population (708 of 5,371
employees as of 31 December 2013) was to determine the levels of diversity
awareness in the Bank, using five levels of diversity awareness, with solidarity as the
highest level:

Tolerant
Acceptance
Respect
Affirmation
Solidarity

c. BSP’s Diversity Awareness is on the Affirmation Level. Mr. Ginete’s study showed
that diversity awareness for both BSP management and rank-and-file employees is
on the affirmation level (M=4.09) regardless of age, gender, sector, job level and
location. Management and rank-and-file employees engage in positive interaction
with others who are different from them; accept other’s culture, language, and
family lifestyle as legitimate; and, embrace others’ differences as a vehicle for
learning and development.

The level of awareness is attributed to the following items in the questionnaire:

I am aware that there are more males than female employees in BSP. (M=3.59)

68% of the respondents, comprising of management and rank-and-file


employees are aware that there are more males than female employees in the
Bank.

I am self-conscious when interacting with different employees whose beliefs are


different from mine. (M=4.29)

68% of the respondents comprising of management and rank-and-file employees


are cautious when interacting with different employees whose beliefs are
different from theirs.

d. BSP employees who finished tertiary level (college) perceived BSP diversity
awareness level to be only in the respect level (M=3.88). In terms of educational
attainment, BSP employees who are non-degree holders or are still in college gave
diversity level in BSP a rating equivalent to respect level with a mean score of 3.88
from college level respondents. Those who finished college gave diversity awareness
affirmation higher score, with a mean score of 4.06. The overall mean score of 708

*Ph D in Development Studies Ateneo De Zamboanga University, entitled, The Development of a Diversity 13
Management Framework at Bangko Sentral ng Pilipinas
respondents regardless of their educational attainment is 4.09, belonging to the
affirmation level of diversity awareness. The greater possibility for college degree
holders to be promoted to officer-level positions and at the same time be given the
opportunity to manage people and be exposed in meetings contribute to the
likelihood of this group to have a higher level of diversity awareness compared to
those who are non-degree holders. Although, that may be the case, respondents
still perceived that they are effective and may be able to address diversity.

e. Mr. Ginete’s study included an assessment of selected BSP HR policies and programs
and how these are supportive of the BSP’s diverse population and their
corresponding needs. Based on the inputs he gathered from the survey and focus
group discussions he conducted, he was able to come up with a number of
recommendations to address the level of diversity awareness. It is noteworthy,
however that these recommendations are already being addressed in the existing
initiatives of HRSs. These include, among others, promoting work-life balance,
promoting well-being of employees, improving team performance through team
buildings, career, succession, and professional development, training and
scholarship, career guidance and counseling, and executive leadership and
development program.

7. Programs that Support BSP Employees’ Diverse Needs

A number of initiatives in the Bank have been identified and being pursued to respond to
the diverse needs and interests of employees and as a way to retain them.

7.1 Flexible Work Schedule

The 2009 Organizational Health Survey (now Organizational Climate Survey) assessed the
presence of diversity in the workplace and showed that respondents felt that they can
perform better on a flexi-time basis (item 44 of the survey) but gave low preference for
home office setup. This may be attributed to the nature of work occupations in the Bank
which does not provide diversified working conditions.

Given this relevant information, in 2010, the Human Resource Management Department
issued Office Order 1152, Series of 2010 (adoption of flexible work schedule) which was
further amended (Office Order 0596, Series of 2012) to authorize the implementation of a
flexible work schedule where employees are allowed to adopt flexible office hours by
logging-in between 8:00 a.m. and 9:00a.m and leaving the office between 5:00 p.m. and
6:00 p.m. provided that the required eight hours of work are rendered, excluding lunch
break from 12:00 noon to 1:00 p.m.

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7.2 Wellness Program

The BSP Wellness Program was drawn up to promote a healthy and productive workforce.
In particular, the program should be cost-effective and be able to identify and reduce health
risks; and educate as well as motivate employees to achieve optimum health.

This Wellness Program was initiated first by the BSP Institute in 2001 before it was turned
over to the Human Resource Management Department. Its core services include:

1. Counseling and Psychotherapy. Counseling is used as a tool that helps employees


understand their present conditions.
2. Peer Facilitators. A group of employees trained to provide basic counseling skills to
their colleagues facing difficulties with their respective personal concerns.
3. Physical Fitness and Nutrition. Basic to a wellness program, it relates well to health
of the human body and contributes to the total well-being of a person.
4. Psycho-educational Events. These involve learning the aspects related to well-being.
Examples of topics include: Proper Nutrition, Functional Family, Managing Stress,
Abundance, Parenting, Managing Personal Loss, etc.

7.3 Accredited Cultural and Sports Clubs.

To date, the Bank has a total of 16 accredited cultural and sports clubs to which BSP
employees can join. The opportunities for numerous and various sports activities that the
Bank provides, support the promotion of the core values of Dynamism and Solidarity.

7.4 Job-rotation and Cross-Posting Program (JRCPP)

The MB Resolution No. 72 dated 20 May 2010 approved the adoption of the JRCPP as one of
the BSP’s workplace development interventions (WDIs). The JRCPP guidelines are provided
by Office Order No. 849, s.2010.

From the time JRCPP was approved in 2010, a total of 19 personnel have been accepted by
the departments or work units that they preferred. Being able to develop their
competencies and enhance their proficiency in their current jobs are the primary reasons of
applicants for participating in the JRCPP. The other reasons include wanting to broaden
their career opportunities and improve job satisfaction through exposure in another
office/department.

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7.5 Equitable Salary
Figure 2. Gender Mix by Salary Range

a. Equitable Pay – The BSP adopts the principle of equal pay for equal work” in the giving
of compensation and rewards. This is based on the 2005 MB-approved Job Classification
and Compensation Plan of the Bank.

Figure 2 shows the distribution of male and female employees according to their salary
range. Most of them are receiving monthly basic salaries ranging from P21,000 to
P35000 followed by those receiving at least P66,000 a month. This data on salaries was
not included in last year’s report.

b. Periodic Review of Salary and Rewards - BSP periodically conducts review of its policies
on performance and rewards. Under the existing Performance and Salary Review
approved under MB Resolution No. 117 dated 29 January 2010, all BSP personnel,
regardless of position or status of appointment may be entitled to a one-step salary
increase on an annual basis, provided that they have achieved a performance rating of
at least satisfactory and have rendered service of at least nine (9) months in the Bank.

c. Most organizations now make pay systems more flexible and reduce the number of pay
levels (Robbins & Coulter, 2008). Regardless of approach, the Bank ensures that the
grant of remuneration is fair, equitable, and motivating to continually allow the
organization to recruit and retain a talented and a productive workforce.

In order to achieve a better measure of benefits, there is a need to enhance further the
performance management system (OCS, 2012). Managers are recognized to play a
significant role in the implementation of performance appraisal, particularly in giving
feedback.

7.5 Systemwide Governance System

The BSP adheres to good governance principles articulated as one of its corporate
objectives. This set of principles will be assessed to sustain organizational performance and
high stakeholder trust, that translates to being able to serve the Filipino people. Key to

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these principles is the employees’ commitment to integrity, fairness, independence,
accountability and transparency, ownership and voice, strategic direction and
responsiveness. All Bank activities should be anchored on these principles that can also
cater to the diversity needs of BSP employees.

8. Overall Assessment of Diversity in the BSP

a. While the diversity profile of BSP employees in 2013 has not changed from that of
2012, in all likelihood this profile may change in the next five years, as more Baby
Boomers leave the organization to be replaced by Gen-Yers.

b. Mr. Ginete’s study affirmed the 2013 OCS that the BSP employees perceived
themselves to be receptive to diverse perspectives and social background. This
means that management and employees engage in positive interaction with others
who are different from them (Ginete, 2013).

c. There is a need for a diversity framework to guide the conduct of an empirical study
on additional programs and development of initiatives that would be more
responsive to the needs of diverse population.

d. Moreover, it was noted that some items in the Systemwide Governance Survey
pertain to issues on diversity. Such may be integrated and strengthened following
the diversity framework that is most suited for BSP.

e. While BSP does not have programs that are solely dictated to help address diversity
awareness concerns, the people development initiatives of the Bank like promotion,
training and development, etc. adhere to the governance framework principles.

The Civil Service Commission (CSC) has programs on engenderment such as:

- Career Advancement Program for Women in Government Service (CAPWINGS) –


seeks to provide the framework for promotion of women’s advancement in
higher levels of management.

- Equality Advocates Program (EQUADS) – seeks to monitor and address cases of


sexual harassment as well as sex discrimination in the workplace.

- Gender and Development (GAD) – focuses on the principle that development is


for all. Everyone in society, female or male, has the right to equal opportunities
to achieve a full and satisfying life. Women and men enjoy the same conditions
for realizing their full human rights and potentials to contribute to development
as well as benefit from the results.

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Other programs on engenderment may also be adopted in the Bank to integrate
gender-related people development and enhance further people management
policies in the areas of recruitment and selection, career development,
compensation and benefits, performance management, rewards and incentives.

9. Moving Forward Plans

Make available in the BSP Intranet the executive summary of this latest report on
diversity for the information of BSP employees.

Provide a diversity framework for BSP to serve as guide in the assessment of BSP’s
programs and initiatives as well as for the preparation of the next diversity report;

Study the possible integration of existing surveys or assessment tools for diversity; and

Continue with the review of policy and program to enhance the organization systems on
performance management, compensation and benefits, and training that will help
diverse needs of employees and the organization.

10. References

Bangko Sentral ng Pilipinas. (2012). Report on the 2013 bank-wide Organizational


Climate Survey (OCS). Manila: BSP.

BSPI Training Policies, ref. No. BSPITP.1007.00, Chapter VII, Foreign Training, Page 1.

BSP Training Policies, Ref. No. BSPITP.1007.00, Chapter VII, Foreign Training , Page 2.

Elmore, L. (2010). The workplace generation gaps. Women in Business. Pp. 8-11.
Retrieved August 5, 2013 from http://web.ebscohost.com

Schemerhorn, J, Hunt, J, & Osborn, R. (Eds.) (2008). Organizational behavior.


New Jersey: Wiley.

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