With innovation as a natural part of its DNA, Republic Cement created an employee engagement and innovation program that aims to nurture and further this mindset among its employees to play a larger role in the company by contributing innovative solutions to emerging business problems.
Thus, the TIBAY Program was born. TIBAY stands for Target Innovation to Boost Asset Yield—encapsulating Republic Cement’s mission to encourage the generation of fresh, new ideas, approaches and solutions to challenges that the business encounters on a day-to-day basis.
In its first year alone, the program generated a total of 1,619 idea submissions and contribution margins of P232 million against its targets of 1,000 submissions and P130 million contribution.
As of October 2021, it has already exceeded its targets of 1,500 ideas and P250 million savings in advance of its yearend conclusion, with 1,935 idea submissions and P528 million in bottom line impact. With such success, Republic Cement strongly intends to sustain and expand the program.
These ideas are seen to create a positive impact on the business in terms of aspects such as: operational savings, revenue generation, quality improvement, customer service and HSE (health, safety and environment).
With TIBAY, the innovation program has proven to be one of the most successful and promising employee engagement and business idea-generation initiatives of Republic Cement enabling the company to bag the Silver Anvil Awards from the Public Relations Society of the Philippines (PRSP).
- Silver Anvil Award — 57th Anvil Awards — Public Relations Program on Sustained Basis — Responsible Consumption and Production