Financial Rewards

HR Management：
Financial Rewards

LIN Xiying

Wage vs. Salary

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Wage—compensation based on an hourly/ weekly pay rate or
the amount of output produced.

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Salary—compensation calculated on a periodic basis, such as
monthly or annually.

Question

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What are the components of compensation structure?

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Base salary/wage + Benefits + Bonus

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Compensation

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Remuneration

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Wage

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Salary

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Allowance

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Benefits

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Bonus

...

Wage vs. Salary?

Words related to financial rewards

Open Ended

What's the difference between wage and salary?

Question:

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What factors do managers consider when making compensation policies?

Open Ended

What factors do managers consider when making compensation policies?

Five major factors of compensation policies

Salaries and wages paid by others

Cost of living

Firm’s ability to pay

Worker’s productivity (Grade of offer)

Government legislation

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根据《最低工资规定》第五条，最低工资标准一般采取月最低工资标准和小时最低工资标准的形式。月最低工资标准适用于全日制就业劳动者，小时最低工资标准适用于非全日制就业劳动者。

(Payment schemes)

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*用人单位执行最低工资标准时，应该剔除：加班工资；中班、夜班、高温、 低温、井下、有毒有害等特殊津贴；国家规定的劳动者福利待遇等。

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Multiple Choice

Employees are paid on the basis of certain number of hours in a year, which is called:

• Time rates

• Annualised hours

• Piece rates

• Commission

Payment schemes

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Annualized hours [年薪（小时）制]: paid on the basis of
certain hours a year

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Time rates (计时工资制): paid for the amount of time spent at work, daily, weekly or monthly

Annual salary system vs. Monthly salary system

Annual salary scheme

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Multiple Choice

A consequence of paying workers by time rate is that:

• High quality work is recognized and rewarded accordingly.

• It promotes team building

• It directly rewards people for the amount of time spent working.

• Workers may ignore quality due to the emphasis on the speed of work.

· Paid for each item produced

· Useful for factories

Piece rate

(计件制)

· Paid a percentage of value of each good or service sold

· Useful for sales people

Commission

(佣金、提成)

· Extra payment for insurance, car, training, etc.

Fringe benefits

(额外津贴)

Multiple Choice

Which type of the following choice does not belong to incentive schemes for employees?

• ESOP

• Individual schemes

• Group incentives

• Factor-wide schemes

Incentive schemes for employees

Incentive schemes for

managers and directors

ESOP (Employee stock ownership plan) 员工持股计划

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ESOP即员工持股计划，是一种新型股权形式，是指公司将本公
司的股票或者股权授予公司经营者（高管、核心员工、员工等），
使其成为公司股东以获得共享公司收益以及参与公司经营决策的
权益。

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ESOP属于一种特殊报酬计划，其实质上是一种长期激励，对象
一般为能推动公司长期发展的高管人员以及核心员工。

ESOP of GREE

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2021年6月20日，格力电器发布《珠海格力电器股份有限公司第
一期员工持股计划（草案）》，向格力电器公司及控股子公司员
工推出第一期员工持股计划，此次计划是格力有史以来最大规模
的一次员工持股计划。员工可以半价认购格力电器股票，但此次
员工持股计划也设置了业绩考核期。

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员工持股计划变相来说是一些上市公司送给员工的一种福利。而
在格力此次员工持股计划中，格力电器董事长董明珠拟认购3000
万股，占持股计划的27.68%，这无疑给此次员工持股计划带来了
许多市场非议。

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Multiple Choice

What does performance mean in Performance-related Pay (PRP)?

• A person's actual use of language in real situations

• The execution or accomplishment of work

• The act of performing a ceremony

• An entertainment presented before an audience

Other incentive schemes: flexible work plan