HR Policy Research (Strategic Remuneration of Management) in XXX Food

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HR Policy Research (Strategic Remuneration of Management) in XXX Food

 

1.        Introduction

 

1.1    Company profile

 

Dongguan XXX Food Co., Ltd. was established in Pearl River Delta, the leading edge of Reform and Opening, in 1991, in the age of flourishing. It has been almost twenty years since XXX’s foundation. Now, XXX obtains a modern factory covering over 120,000 square meters. With dozens of production lines, more than 1000 employees, its daily production capacity reaches 50 tons of biscuits, 1,800,000 pieces of moon cakes. Its products are appreciated by market for their healthy concept, covering all over China and more than thirty districts and places overseas (XXXfood.com 2012). Now its major product lines cover waffle, cookies, crackers, pastry, biscuit and its most famous moonquake under its own brand which is even widely available in Malaysia around us.

 

1.2    Problem statement

 

Though the company is expanding its market domestically and also in the international market, one problem that attracts the attention of the management in the recent years is the high turnover rate in the management level positions in the company especially in the marketing department. According to the internal source, 22 management staffs out of the 150 total head count left the company in the last financial year, the 14.67% management turnover rate is much higher than the less than 10% industrial average. And also because of the high turnover rate in the management level, the overall employee morale and royalty to the company has been impacted resulting in the reduced employee performance level.

 

1.3    Research topic

 

This study is concentrating on the topic of strategic remuneration of the management level positions with the case example of XXX Food, with the large inflow of the foreign own companies in China in the most recent decade in the food manufacturing industry in comparison with the insufficient supply and slow growth of the related management talents, small and medium sized manufacturers like XXX Food are facing great challenges from the international competitors in competing for the suitable management talents in different areas such as marketing, finance management, strategic planning and operation management. This study will help the company to come up with a systematic approach of deciding the strategic remuneration in the management positions through careful survey and further analysis.

 

1.4    Some key terms used in this study

 

1.4.1            Strategic recruitment

 

Recruitment refers to the process of receipt of applications from job-seekers. In simple terms recruitment is understood as the process of searching for and obtaining application for jobs from the various channels (Kumar 2011, p. 94). And strategic recruitment means identifying the real recruitment needs of the organization and fulfilling those needs. The organizational needs are tied to the overall strategic business plan (strategic-human-resource.com 2008). This means that the recruitment behaviors are strategic because they are based on the strategic needs which are in alignment with the strategic business plan of the company regarding the future direction of the business and how the business would be developed in the future.

 

 

 

1.4.2            Strategic remuneration

 

Remuneration is the compensation that employees receive for the work they have done (Bronwynne 2007, p. 65). Many people think of wages and salaries as the same thing, but there is some differences. A salary is the remuneration an employee receives on a monthly basis while wage is based on hours. Remuneration could be divided into direct remuneration and indirect remuneration (such as leave, insurance, housing allowance and so on). Strategic compensation or remuneration goes beyond determining the appropriate market rates to pay employees, although market rates are one element of compensation planning, strategic compensation should also purposefully link compensation to the organization’s mission and general business objectives. And additionally, strategic compensation serves to mesh the monetary payments made to employees with other human resource initiatives such as recruitment, selection, training, retention and performance appraisal (Snell & Bohlande 2011, p. 396).

 

2.        Research targets

 

2.1    List out the proofs showing the relationship between the high management turnover rate and the problems of the management remuneration design

2.2    Identify the fields in which the managers are not satisfied with related to HR policies

2.3    Analyze the advantages and disadvantages of the company’s remuneration policy

2.4    Analyze the elements of a successful strategic remuneration policy

2.5    Offer advices on the changes to be introduced into the remuneration policy to the management positions

 

3.        Research design and methodology

3.1    Research design

 

The most commonly used research designs in education and social sciences research include survey research design, the case study and naturalistic research designs (kenpro.org 2007). During this whole research which is itself a case study, we also used the research design of survey to measure the level of satisfaction regarding employees in the R&D center of the company to the given integrated remuneration package and only based on which recommendations could be provided on how to improve the company’s strategic remuneration through different ways. To easily analyze the data and come up with conclusion, we will design the survey with closed ended questions, and also because the questions would be closed end, more careful and comprehensive investigation and reading of the company profile as well as direct conversations with the employees and managers would be necessary. And in order to do so, we have had the authorization from the general manager to perform this research (authorization letter please refer to the appendix 1 in the end of this report).

 

3.2    Target population and Sampling

 

With the research title, “HR Policy Research (Strategic Remuneration of Management) in XXX Food”, the study’s target population are the management level staffs in XXX Food, and all of them are the eligible candidates for this study. And in term of sampling which is the process of selecting units (e.g., people, organizations) from a population of interest so that by studying the sample we may fairly generalize our results back to the population from which they were chosen (socialresearchmethods.net 2006), with a total number of 150, to ensure that the sampling could really represent the common view of the most staffs in the management positions, a sample of 60 had been researched in this study.

 

3.3    Information gathering

3.3.1            Primary sources

 

Primary sources provide first-hand testimony or direct evidence concerning a topic under investigation. They are created by witnesses or recorders who experienced the events or conditions being documented. Often these sources are created at the time when the events or conditions are occurring, but primary sources can also include autobiographies, memoirs, and oral histories recorded later. Primary sources are characterized by their content, regardless of whether they are available in original format (yale.edu 2006). About the primary sources, we have three channels: (a) the company’s internal publications and reports such as employees profiles, salary summary, performance level and financial reports; (b) closed ended question based survey participated by part of the management staffs (about 40 per cent of the management staffs in total); (c) interview with the employees and also senior managers in different departments.

 

3.3.2            Secondary sources

 

Secondary source materials, then, interpret, assign value to, conjecture upon, and draw conclusions about the events reported in primary sources. These are usually in the form of published works such as journal articles or books, but may include radio or television documentaries, or conference proceedings (ucsc.edu 2010). In our study, internet websites, famous books, magazines and journal articles are the accessible secondary sources that could be used in our studies. We do not include the industrial reports into the secondary sources because of the lack of such data in the food industry in China and it is difficult of obtain such information and report without paying a high price. As a result, we use internet resource and books as the key secondary sources.

 

3.4    Data analysis procedure

 

Data analysis is an ongoing activity, which not only answers the question but also gives the directions for future data collection. Data analysis procedures (DAP) help to arrive at the data analysis. The uses of such procedures put the research project in perspective and assist in testing the hypotheses with which we have started our research (mmu.ac.uk 2010). Our research is base on the assumption that the remuneration package that the company gives to the management level staffs is not attractive enough which led to the high turnover rate in the management position staffs, and that is why our research is meaningful and could provide recommendations for the improvement of the company’s remuneration decision making. Our research would testify this assumption and the data collected would be put into such testing of the assumptions. Answers will be analyzed and percentage would be calculated to see the proportion of people that agrees or disagrees with some views of point.

 

4.        Literature review

 

According to the Ernst &Young’s 2011 Mainland China and Hong Kong Executive Compensation Report which provides an analysis of executive and independent/non-executive director compensation for main board listed A share companies in Mainland China and Hong Kong, total cash compensation of Mainland China CEOs in A share companies increased by 5% (median) in 2009 during the financial crisis and by 12% (median) in 2010.  Competition in the labor market is likely to continue to put upward pressure on total compensation packages, particularly for new hires of executives, as attraction and retention of executive talent becomes even more critical to corporate performance (ey.com 2011).

 

And achieve the goal that a company’s remuneration is in accordance with the overall business objectives and organizational culture, Raymond J. Stone (2010, p.453) proposed an eight steps strategic remuneration approach which includes: Develop strategic business objectives, Develop HRM objectives, Develop employee remuneration objectives, Job analysis, Job evaluation, Pay survey, Job pricing and Implementation.

 

5.        Case study

 

5.1    Remuneration policy used in the management positions

 

After interviewing one of the human resource employees, we got to know that in the management level, the company right now provides remuneration package the contains three major part: (a) a basic salary based on the management level, the higher the level is, the higher basic salary the management staffs would get; (b) an annual bonus based on the organizational performance in term of profit growth and sale growth and also the departmental performance that the staffs are working in; (c) the various insurance and retirement scheme and also other benefits requested by the government policy and stated in the company human resource management policies. Equity options are not optional for all staffs in the management positions except the general manager who is also the founder and owner of the company. And only the management in the sale department would receive a sale bonus as a way to boost the sale and motivate the management in the sale department.

 

5.2    Problems

 

5.2.1            Unattractive compensation packages for management staffs

 

With a total number of 150, to ensure that the sampling could really represent the common view of the most staffs in the management positions, a sample of 60 had been researched in this study. And by scrutinizing the answers and results of the investigated 60 management position staffs, we have testify our assumption that the remuneration package that the company gives to the management level staffs is not attractive enough which led to the high turnover rate in the management position staffs. According to the internal source, 22 management staffs out of the 150 total head count left the company in the last financial year, the 14.67% management turnover rate is much higher than the less than 10% industrial average. The unattractiveness of the compensation package could be understood in several points: (a) the basic salary is only in the industrial average level. When asked the question that “How the employees will perceive their basic salary level”, 38.3% per cent employees select the answer “B. Almost the industrial average of my position” and 31% per cent consider the basic salary as “Below the industrial average of my position”. Also after taking into consideration of the year-end annual bonus pay based on the organizational performance and also the department performance, surveyed employees still not consider the monetary compensation above the industrial level. In sum, more than half of the surveyed consider the basic salary level is not attractive compared to the industrial average level.

 

Chart 1 Answers to “What is the pay increase that you would like to have and which is reliable?”

We can see from the chart above most surveyed management staffs considered that they should receive a pay increase, and the difference is how much they expect the company could give, and option B (11 per cent to 15 per cent) and C (16 per cent to 20 per cent) are the most two options that people choose. Therefore we can see that a 10 to 20 percent pay increase is most desirable by the employees in the management positions. And the further interviews with the HR staffs also provide confirmation that they pay is an issue because many HR staffs claimed that each month they receive a lot of complaints from the management staffs that they are paid less than the value that they contribute to the company. In addition as the following tables show, compared to the industrial average level, XXX has given a high pay to the management positions that are above the manager level but the below manager level management staffs receive a much lower pay compared to the industry average level.

 

 

 

 

 

PositionXXXIndustry average
Manager assistant2,500-3,0002,000-3,000
Vice Manager4,000-6,0006,000-12,000
Manager8,000-10,00012,000-20,000
Department head20,000-30,00020,000-30,000
Vice General manager40,000-60,0003,5000-50,000
General manager200,000100,000 – 150,000

Table 1. Comparing the company’s management monthly compensation with the industry average level

Source: foodhr.cn 2010

 

(b) The compensation types are not varied enough. Though the majority of the management staffs still consider that the basic salary level and other monetary compensation is not above the industrial level but still within the average level which is supposedly to be acceptable, the non-monetary incentives and compensation are also not sufficient.

Score (1 to 5)    Results

Supplemental retirement packages   1       2     3       4       5   (3.5)

Equity options                   1       2     3       4       5   (4.4)

Deferred compensation arrangements 1       2     3       4       5   (3.2)

Flexible timing and shift           1       2     3       4       5   (3.8)

 

Table 1.0 Answers to the question: “What other compensation types that you would like to enjoy? Please rate the give four options”

 

As the results shows, that within the five scale marks, all the four listed non-monetary compensations are very much desired by the surveyed management staffs with the four compensations all rated more than 3 marks. And equity option is considered as the most desired option. But currently, all these four types of compensations are not yet provide by the company neither to the management staffs nor to mention the common employees. And as said above, we conclude that a 10 to 20 percent pay increase is most desirable by the employees in the management positions, but a following question that “Do you prefer to have a pay increase or receiving the equity option with similar value?”, more than 80 per cent of the answers are negative indicating that an equity option is more attractive than the pay increase from the management staffs’ view. As a result, the types of the compensations should be further varied to make the compensation package more attractive to the management staffs.

 

(c) More than 35 per cent of the management employees would leave the company within the next three years, and more than 70 per cent of them consider the better compensation would be the most important factor.

 

5.2.2            Company’s limited capacity to cover the cash and bonus pay increase

 

In 2010, XXX has its strategic investment in Central China, founding Hubei XXX Food Co., Ltd. in XXX Industrial Park in Xiantao City, Hubei Province. XXX’s brand, including Milk Partner, Koekje, waffle Cake, Golden Lisa and its products are appreciated by market for their healthy concept, covering all over China, especially the North China consumers. With the company’s current plan to expand the manufacturing center in the North China, the company will have difficulties to increase the pay for the management to a large extent without enlarging the debts equity.

 

6.        Conclusion

 

From the case study above, we conclude that though the company is growing its business in a quick speed, there are some problems surrounding the company’s management level talents, many of them are leaving because of the better pay and non-monetary compensation offered by other competitors or other industries’ companies, also the company does not have a clear strategic business plan in term of value, mission statement and beliefs, therefore, the company needs to check whether the company has the clear remuneration policy to attract and retain the talents that it needs in its achieving the business goals.

 

7.        Recommendations

 

In the recommendations session, we are going to apply the model proposed by Raymond J. Stone (2010, p.453) which is an eight steps strategic remuneration approach which includes: Develop strategic business objectives, Develop HRM objectives, Develop employee remuneration objectives, Job analysis, Job evaluation, Pay survey, Job pricing and Implementation.

7.1    Develop strategic business objectives

 

As said above, XXX Food Co., Ltd is like many other small and medium sized firms, it started from small OEM (original equipment manufacturer) contract manufacturing partners of the international large food companies which come to China with the ongoing trend of industrial transfer of the manufacturing to the developing country; it does not start with a mission or any beliefs. Surviving or making money could be the best description of these kinds of companies in term of mission of any kind. And with Raymond J. Stone (2010, p.453)’s eight steps strategic remuneration approach, first, we recommend that XXX Food Co., Ltd to create its own mission statement to refine its business strategic goals for which all the employees and management should run after. Also detail marketing targets could be included as part of the strategic business goals. For example, the company could set the mission as “to make and deliver the best quality packaged food to every corner of the world” and set the future strategic goal as “expand the business by twice in the coming 4 financial years”.

 

7.2    Develop human resource management objectives

 

The second step we would recommend to develop the HRM objectives which are in line with the strategic business goal. HRM goals in term of the content are about the total knowledge, skills, creative abilities, talents and aptitudes of an organization’s workforce, as well as the values, attitudes, approaches and beliefs of the individuals involved in the affairs of the organization. It is the sum total or aggregate of inherent abilities, acquired knowledge and skills represented by the talents and aptitudes of the persons employed in the organization (Expertscolumn.com 2009). As a fast growing food industry company, XXX Food may probably like to promote individual excellence and also teamwork company culture. And detailed and specific abilities such as new product development abilities and negotiation abilities could be identified by the HRM department.

 

7.3    Develop employee remuneration objectives

 

The main objective of compensation strategy is to give the right rewards for the right employee behaviors. Compensation strategy can reinforce the organizational culture that you desire. This is an enabling organizational culture under which pay is linked to performance. The compensation policy must reflect the strategic business objectives (resource.com 2010). As in the case of XXX Food, as said above, the company could be setting the HRM objectives as promote individual excellence and also teamwork company culture, compensation is an important motivator when you reward achievement of these desired organizational results.

 

7.4    Job analysis

 

Job Analysis is a process to identify and determine in detail the particular job duties and requirements and the relative importance of these duties for a given job. Job Analysis is a process where judgments are made about data collected on a job. The purpose of Job Analysis is to establish and document the ‘job relatedness’ of employment procedures such as training, selection, compensation, and performance appraisal (job-analysis.net 1999). And the result of the job analysis could be applied in many purposes, and one of the is to used in compensation to identify the

 

l  skill levels

l  compensable job factors

l  work environment (e.g., hazards; attention; physical effort)

l  responsibilities (e.g., fiscal; supervisory)

l  required level of education (indirectly related to salary level)

 

7.5    Job evaluation

 

An assessment of the relative worth of various jobs on the basis of a consistent set of job and personal factors, such as qualifications and skills required. The objective of job evaluation is to determine which jobs should get more pay than others. Several methods such as job ranking, job grading, and factor comparison are employed in job evaluation. Research indicates, however, that each method is nearly as accurate and reliable as the other in ranking and pricing different jobs. Job evaluation forms the basis for wage and salary negotiations (businessdictionary.com 2011). In the process of job evaluation, the company may need to integrate the inputs of the corporate culture, mission as well as other key company characteristics into the process and make sure that the job evaluation would reflect the business goals, company value and also the HRM objectives.

7.6    Pay survey

 

A pay survey or compensation survey is a general overview of compensation and trends. It is a widely used resource that measures job wages, compensation trends and provides benefits information (ehow.com 2010). The pay survey here would help the human resource management to understanding the employees’ expectation regarding the wage, and how much they want in their mind. As we have found out through the survey, there are some problems surrounding the company’s management level talents, many of them are leaving because of the better pay and non-monetary compensation offered by other competitors or other industries’ companies, also the company does not have a clear strategic business plan in term of value, mission statement and beliefs, therefore, the company needs to check whether the company has the clear remuneration policy to attract and retain the talents that it needs in its achieving the business goals. A pay survey could help the human resource management department to evaluate the pay that is attractive to the management talents who are with the right skills and will help the company to grow faster and operate in the right directions.

 

7.7    Job pricing and Implementation

 

Job pricing is the process of determining pay rates for jobs within the organization by analyzing industry or regional salary survey data in order to establish appropriate job pay rates. There are two major references that the company needs to take into consideration, the first reference is the industrial average level which decide whether the employees would perceive the job is paid well in the industry or not; and another reference is the competitors’ offers because as we have found out, there are more than 35 per cent of the management employees would leave the company within the next three years, and more than 70 per cent of them consider the better compensation would be the most important factor, job pricing should provide the company with relative advantage compared to the competitors’ offers.

Reference

 

Bronwynne, B. 2007, Fresh Perspectives: Managing People. New Delhi: Fresh Perspective: Business Management. p. 65

 

businessdictionary.com 2011. Job evaluation. View by 24 – 02 – 2012 [online] URL: http://www.businessdictionary.com/definition/job-evaluation.html

 

Ehow.com 2010. What is a Compensation Survey? View by 24 – 02 – 2012 [online] URL: http://www.ehow.com/facts_7478598_compensation-survey.html

 

Expertscolumn.com 2009. Human Resource Management – Nature, Scope, Objectives And Function. View by 24 – 02 – 2012 [online] URL: http://expertscolumn.com/content/human-resource-management-nature-scope-objectives-and-function

 

ey.com 2011. Ernst & Young: Mainland China and Hong Kong executive compensation continues to increase while the granting of long term incentives remains low. View by 24 – 02 – 2012 [online] URL: http://www.ey.com/CN/en/Newsroom/News-releases/2011_Mainland-China-and-Hong-Kong-executive-compensation-continues-to-increase-while-the-granting-of-long-term-incentives-remains-low

 

foodhr.cn 2010. 各管理类职位平均薪资水平一览表 (Payroll of the management positions in the food industry). View by 08– 03 – 2012 [online] URL: http://www.foodhr.cn/news/news1071.htm

 

XXXfood.com 2012. Dongguan XXX Food Co., Ltd Profile. View by 24 – 02 – 2012 [online] URL: http://www.XXXfood.com/en/article.php?id=5

 

job-analysis.net 1999. HR Guide to the Internet: Job Analysis: Overview View by 24 – 02 – 2012 [online] URL: http://www.job-analysis.net/G000.htm

 

kenpro.org 2007. CHAPTER THREE: RESEARCH DESIGN AND METHODOLOGY. View by 24 – 02 – 2012 [online] URL: http://www.kenpro.org/methodology.htm

 

Kumar, R. 2011, Human Resource Management: Strategic Analysis Text and Cases. New Delhi: I. K. InternationalPublishing House Pvt. Ld. p. 94

 

linkedin.com 2011. Why should a Company have “VISION”, “MISSION” & “VALUE” statements. Why is it Important! View by 24 – 02 – 2012 [online] URL: http://www.linkedin.com/answers/management/corporate-governance/MGM_CGV/866146-12608832

 

mmu.ac.uk 2010. Data Analysis Procedures. View by 24 – 02 – 2012 [online] URL: http://www.celt.mmu.ac.uk/researchmethods/Modules/Data_analysis/index.php

 

resource.com 2010. Use Compensation Strategy as a Tool to Motivate Your People. View by 24 – 02 – 2012 [online] URL: http://www.strategic-human-resource.com/compensation-strategy.html

 

Snell, S. A. & Bohlande, G. W. 2011, Managing Human Resources. 16 edition, New Jersey: South Western Cengage Learning. p. 396

 

Socialresearchmethods.net 2006. Sampling. View by 24 – 02 – 2012 [online] URL: http://www.socialresearchmethods.net/kb/sampling.php

 

Strategic-human-resource.com 2008. Adopt Strategic Recruitment in Response to Changes in the Business Environment. View by 24 – 02 – 2012 [online] URL: http://www.strategic-human-resource.com/strategic-recruitment.html

 

Stone, R. J. 2010, Human Resource Management. seventh edition, McDougall Street, Milton Qld: John Wiley & Sons Australia, Ltd. p. 453

 

ucsc.edu 2010. Distinguish between Primary and Secondary Sources. View by 24 – 02 – 2012 [online] URL: http://library.ucsc.edu/help/howto/distinguish-between-primary-and-secondary-sources

 

Yale.edu 2006. What are Primary Sources? View by 24 – 02 – 2012 [online] URL: http://www.yale.edu/collections_collaborative/primarysources/primarysources.html

 

Bibliography

 

Carver, D. 2005, What’s Wrong with Management. Lincoln, NE: iUniverse, p.136

 

Daft, R. L. & Marcic, D. 2008, Understanding Management. Mason: South-Western Cengage Learning, p.404

 

Herzog, P. 2011, Open and Closed Innovation: Different Cultures for Different Strategies. 2nd ed, Springer Fachmedien Wiesbaden GmbH: Gabler Verlag, p.61

 

Jackson, S. E., Schuler, R. S. & Werner, S. 2009, Managing Human Resources. Natorp Boulevard Mason, OH: South Western Cengage Learning. p. 112

Shi, L. 2007. Managing Human Resources in Health Care Organizations. Mississauga, Ontario: Jones and Bartlett Publishers.

 

 

 

Appendix 1. Letter of authorization by the General Manager of XXX Food

 

 

To any parties this authorization letter may concern,

 

 

I hereby authorize, ABC, as the external strategic human resource consultant in carrying out the research “HR Policy Research (Strategic Remuneration of Management) in XXX Food”, any department in the company needs to provide maximum assistance for the facilitation of the research. And all documentations and research reports are limited for research purposes only. Exposure of classified information to irrelevant parties would result in legal actions.

 

 

 

 

 

 

 

 

 

General manager of XXX Food: XXXXX

17 Feb 2012

 

Appendix 2. Management remuneration and management motivation investigation survey in XXX Food

 

Welcome to the 2012 internal management remuneration and management motivation investigation survey of XXX Food, this survey is only act as for the research purpose and the usage of all information would be confined to the research purpose. No consequence would come with the any view of point expressed in this survey. Please fill with the answers based on your own perception and ideas. Thank you for your kindly participation and your contribution to this research is much appreciated.

 

What is the level of your job title?

 

  1. Manager assistant    B. Vice Manager    C. Manager    D. Department head

E. Vice General manager F. General manager

 

 

What is your gender?

 

  1. Male     B. Female

 

How long have your been in XXX Food?

 

  1. Less than 1 year   B. 1-2 years   C. 2 to 4 years   D. 4-7 years
  2. E. more than 7 years

 

How long have you been in the current management position?

 

  1. Less than 1 year   B. 1-2 years   C. 2 to 4 years   D. 4-7 years
  2. E. more than 7 years

 

In general, I love working in XXX Food

 

  1. agree    B. strongly agree   C. disagree  D. strongly disagree  E. Not sure

 

How do you reach the current position?

 

  1. Internal promotion    B. external recruitment (open market).  C. Head hunter

 

Do you work in the same industry before this job?

 

  1. Yes  B. No.

 

What is your salary each month?

 

  1. RMB 3000 to RMB 5000  B. RMB 5001 to RMB 8000
  2. C. RMB 8001 to RMB 10,000  D. RMB 10,000 plus

 

My basic salary level is ranged in:

 

  1. Below the industrial average of my position
  2. Almost the industrial average of my position
  3. Little more than the industrial average of my position
  4. Much more than the industrial average of my position

 

In addition to the year-end annual bonus pay, and sale bonus (for management in marketing department) my compensation is ranged in:

 

  1. Below the industrial average of my position
  2. Almost the industrial average of my position
  3. Little more than the industrial average of my position
  4. Much more than the industrial average of my position

 

How do you rate the monetary and non-monetary compensation in your remuneration package such as leave?

Score (1 to 5)

Leave                          1       2     3       4       5

Leave travel                     1       2     3       4       5

Insurance                       1       2     3       4       5

Hospitalization                   1       2     3       4       5

Basic salary                      1       2     3       4       5

Year-end bonus pay                1       2     3       4       5

Sale incentive (if any)              1       2     3       4       5

 

What other compensation types that you would like to enjoy most? Please rate the give four options

 

Score (1 to 5)

 

Supplemental retirement packages   1       2     3       4       5

Equity options                   1       2     3       4       5

Deferred compensation arranges     1       2     3       4       5

Flexible timing and shift           1       2     3       4       5

 

What is the pay increase that you would like to have and it is reliable?

 

  1. 5 per cent to 10 per cent
  2. 11 per cent to 15 per cent
  3. 16 per cent to 20 per cent
  4. 21 per cent to 29 per cent
  5. 30 per cent and above
  6. No pay increase is necessary

 

Do you prefer to have a pay increase or receiving the equity option with similar value?

 

  1. Pay increase
  2. Equity option

 

Has anyone approached to you to offer another job opportunity?

 

  1. Yes
  2. No

 

Do you have a plan to leave the company within the next three years?

 

  1. Yes
  2. No

 

Would you consider leaving the company if there is a better offer?

 

  1. Yes
  2. No

 

Is the better compensation offer the most important factor when you decide to leave the company?

 

 

  1. Yes
  2. No

 

Thank you again for your kindly participation and your contribution to this research is much appreciated.

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