EEI Corp., the construction unit of the Yuchengco Group of Companies (YGC), is spending P580 million annually to improve the lives of its workers by providing free food onsite and in offices starting Jan. 1, 2024.
EEI president and chief executive Henry Dizon Antonio said the program is part of the company’s wholistic approach to provide assistance to employees especially those working at the construction sites.
“With the programs we’re putting in place, people might think we’re a charity company or part of social welfare. We just want a better life for our people. Our company is investing on this and it’s going to cost us half a billion pesos yearly, from now on,” Antonio said Tuesday night during a thanksgiving dinner with the media.
“The amount we’re investing yearly for the worker’s benefit is not small. And because of this, we expect them to work efficiently,” he said.
EEI supports nearly 19,000 employees across all projects in the Philippines, including those handling administrative work.
It also beefed up the lending capital of the workers’ cooperative which provides loan at 1 percent per annum.
EEI said that on top of food and loan assistance, the company would also extend affordable housing to workers.
“We have a property in Tanza. We want to put up a community for workers. We’ll lend them materials and since they are builders, they can work on a method on how they can help each other create a community,” Antonio said.
Mid-rise buildings are expected to populate the property based on the models that EEI will design. The development will also include a church, some retail spaces and recreational facilities.
EEI said it would also encourage the wives of its workers to learn basic financial literacy to prepare them on starting small businesses.