After the Spring Festival, the year-end bonuses of various enterprises and institutions have been finalized. Who has the bigger year-end bonus and who has better benefits? After a whole year of hard work, working professionals expect to receive generous red envelopes; for companies, how to reward employees reasonably and mobilize their enthusiasm is also an important part of the company's talent incentive mechanism.
ChinaHR.com, a leading online recruitment company in China, conducted a large-scale online survey on the theme of "Are you satisfied with the year-end bonus?" for professionals in different occupations and positions. Investigate the psychology of people in the workplace from the professional perspective of a reasonable salary system, and work with employees and companies to explore a more scientific approach to human resources management. The respondents to this survey come from all over the country, with Beijing, Tianjin, Shanghai, the Pearl River Delta and the southeastern coastal areas accounting for more than half. Among them, 51% are private and private enterprises, 32% are foreign-invested enterprises, and 15% are state-owned enterprises. The people surveyed were mainly ordinary employees and managers, coming from 20 industries including the IT industry, manufacturing and processing industry, real estate construction industry, medical industry, advertising industry, and financial industry.
The ideal expectation of year-end bonus: three to five times the monthly salary
The year-end bonus is always more worth looking forward to than the monthly salary, because it represents more recognition of the employee's value. After an anxious wait, as of the end of February, the year-end bonus situation for most employees has been finalized. According to a survey by China Talent Network, when asked "How many times is your monthly salary approximately?" about 50% of employees said that the year-end bonus they received was less than 1 times the monthly salary, indicating that the year-end bonus was about 1 times the monthly salary. ~2 times accounted for 32.43% of the total number of respondents, 12.34% said the year-end bonus reached 3 to 5 times the monthly salary, and 4.39% said the year-end bonus reached 3 to 5 times the monthly salary. This is also the reason why employees are currently nervous about annual bonuses.
From the survey on the expected year-end bonus amount in the workplace, 24.69% of employees expect a year-end bonus of about 1 to 2 times their monthly salary, and 51.88% of employees expect a year-end bonus of 3 to 5 times their monthly salary. , accounting for 23.43% more than 5 times. It can be seen that most employees’ ideal expectations for year-end bonuses are three to five times their monthly salary.
Ouyang Hui, a human resources expert at China Talent Network, pointed out that when issuing year-end bonuses, companies should reasonably weigh the pros and cons of both parties on the basis of understanding employees’ expectations, and try to take employees’ expectations into consideration. Only in this way can employees be rewarded It serves as a reward and incentive to achieve a "win-win" between the company and its employees.
Seventy percent of employees are “dissatisfied” with year-end bonuses
Based on the above comparison, according to a survey by China Talent Network, 70% of employees think that “2007 year-end bonuses did not meet expectations.” 37.03% of the respondents believed that it was "very different from expectations", accounting for 34.31% of the respondents. In total, more than 70% of the respondents believed that the year-end bonus issued by the company did not meet their expectations.
By analyzing how professionals feel about year-end bonuses, Ouyang Hui pointed out that professionals have higher expectations for year-end bonuses. This is due to the rise in prices and housing prices in China’s market in recent years, as well as the increased burden of life it brings. Not irrelevant. Survey data shows that nearly 20% of those surveyed believe that not receiving a year-end bonus is equivalent to a reduction in purchasing power. Nearly 50% of people believe that year-end bonuses do not significantly compensate for rising prices. Only nearly 20% of people think that year-end bonuses do not compensate for rising prices. Prizes can compensate for rising prices. In addition, people's expectations for salary and bonuses are increasing year by year, so it is understandable that most employees are dissatisfied with annual bonuses.
Year-end bonuses have become an important lever in salary management
Surveys show that year-end bonuses have increasingly become an important part of corporate salary systems and employee incentive systems. More and more companies realize that the issuance of year-end bonuses should not be regarded as a short-term increase in costs, but a reasonable and necessary long-term investment.
According to a survey by China Talent Network, when asked "What do you think the year-end main awards reflect in the company?" 37.45% of the respondents thought it was an affirmation of personal value, and 27.41% of employees thought it was As a reflection of the company's overall operating performance and future development prospects, 27.2% of employees believe that the company attaches great importance to employee welfare, and 7.95% believe that it reflects corporate culture.
The survey shows that if the company does not have year-end bonuses or is lower than expected, more than 80% of employees believe that their work enthusiasm will be affected, or they will choose to change jobs after the year; only 10% of employees are willing to do so in the future. Throughout the year, strive for good performance and seek good returns.
Ouyang Hui pointed out that the payment of year-end bonuses is not only a form of bonus, but also a way of expressing respect during traditional festivals and conveying affirmation and encouragement after a year of hard work. The reasonable payment of year-end bonuses can not only increase employees' cohesion and sense of belonging, enhance the company's reputation, but also establish the image of the company as providing a broad development platform for employees.
In terms of bonus assessment methods, according to the survey, 46.86% of companies issue year-end bonuses based on level and performance; 15.27% of companies provide double-salary awards; 25.94% of companies provide symbolic additional bonuses ; There are also about 10% of companies that do not have any bonuses. Ouyang Hui, a human resources expert at China Talent Network, said: "We are happy to see that year-end bonuses have become an important lever in human resources management. In the future, year-end bonus management will play a greater role in salary management and talent incentives.
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How do working people spend their year-end bonuses?
For working people who are waiting for their monthly salary to be paid, the year-end bonus can be said to be a considerable amount of income. With the arrival of the New Year, On this occasion, rare holidays, festive atmosphere, gatherings of family and friends, and dazzling discount advertisements from merchants will make people have more consumption behaviors.
The main spending directions of year-end bonuses of the surveyed professionals are shown. : 34.1% of people mainly use it for reserve funds (buying a house, buying a car, children’s education funds, etc.), 18.41% mainly use it for investment and financial management (stocks, futures, funds, bonds, etc.), and 10.67% of people will use it at the end of the year. The bonus is mainly used for further study in the future, etc. Only nearly 25% of working professionals spend their year-end bonus mainly on Spring Festival shopping, dinners or travel and vacation.
In the peak consumption season full of temptations, only nearly 25% of professionals spend their year-end bonus mainly on Spring Festival shopping, dinner parties or travel and vacation. Seventy percent of urban residents choose to use their year-end bonus mainly for reserve investment or further education. This shows that urban residents have become more rational in their consumption outlook. In the face of rising prices and increased living burdens, urban residents have gradually formed the habit of planning savings and financial management. It is hoped that assets can be used more rationally and maintain and increase their value.
In recent years, year-end bonuses have become an important part of salary management. Reasonable annual bonuses can help promote employee enthusiasm and enhance employee loyalty. , is of great significance in driving overall performance. This survey conducted a panoramic scan of the 2007 year-end bonuses and also provided valuable reference for future corporate salary management.
(Contributed by China Talent Network)