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| Home | Pay Adjustment Prediction in 2008 | Bonuses | Benefits |
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Benefits The Compensation & Benefit Survey shows that employers are providing more benefits to staff to help them achieve a work-life balance as well as develop in their career. 5-Day Working Week The survey finds that more than 60% of the respondents have implemented a five-day working week in 2007, and a further 7.3% are expected to implement such working schedule next year, making up a total of more than 70%.Flexible Working Hours More than 10% of the surveyed companies allow employees to work in flexible working hours, and a further 7.3% will introduce this practice in 2008. Most of the companies allow staff to start and finish work at any time, provided that they have to be at the office during the core working time period and fulfill a fixed number of working hours every day.Leave In addition to annual leave and sick leave, lots of companies provide other types of leave for employees, such as compassionate leave, marriage leave. Almost one-third of the surveyed companies also provide study and examination leave, and a further 7.3% of the respondents will provide this to staff in 2008. More than a quarter of the respondents provide paternity leave to staff in 2007 as a move towards family-friendly employment practice. A further 8% will provide this type of leave next year.Health-related Benefits The survey has found that more employers are providing health-related benefits. Nearly 40% of the respondents expect to provide an ergonomic working environment for employees in 2008, and nearly one-quarter of the surveyed companies will offer family leave benefits to staff next year.Other Benefits Other benefits provided by employers include MPF contribution, with most employers contributing 5% of staff’s monthly basic salary, which is the minimum amount required for employers in contributing to the MPF scheme. Only 2.9% of the respondents contributed to 11% to 15% of staff’s salary, and the contribution is for top / senior management staff only. For insurance plans, 91.2% of respondents provide out-patient service, 88.3% provide hospitalization, and 70.1% provide Chinese bonesetters and medical consultation. Next year, 46% will provide dental service.Among the surveyed companies, 74.5% provide training to staff, and more than half provide both in-house and outsourced training. This year, nearly half of the companies provide education allowance to employees, and a further 13.1% will offer this benefit next year. Other benefits provided by employers include transportation allowance, purchase of company stock, rental reimbursement, etc. |