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1、L/O/G/OModule 2 Company benefitsBy William WangContentsPresentation & MemoBenefits and IncentivesUseful Terms Company Company BenefitsBenefitsUseful TermsPension (养老金养老金/退休金退休金) A pension (also known as superannuation) is a retirement plan intended to provide a person with a secure income for life.
2、The common use of the term is to describe the payments a person receives upon retirement, usually under pre-determined, legal and/or contractual terms. Pensions have traditionally been payments made in the form of a guaranteed annuity 年金/养老金 to a retired or disabled employee, or to a deceased employ
3、ees spouse, children or other beneficiaries. A pension created by an employer for the benefit of an employee is commonly referred to as an occupational or employer pension. Labor unions, the government, or other organizations may also sponsor pension provision. Useful TermsIncentive (激励激励/奖励奖励) An i
4、ncentive is any factor that enables or motivates a particular course of action. It is an expectation that encourages people to behave in a certain way. Incentives usually fall into three broad classes: 1. Remunerative incentives (or financial incentives/material reward); 2. Moral incentives; 3. Coer
5、cive incentives (e.g. punishment, imprisonment, confiscation of properties, etc.) Useful TermsPerks (津贴津贴/额外补贴额外补贴) In addition to company benefits, many employers also offer perks to their employees. Typically limited to employees in management positions, these perks include such benefits as countr
6、y club or health club memberships, a company car, special parking privileges at work, tickets for sporting events, first-class travel accommodations, and generous expense accounts. However, certain types of perks are also being extended to employees in many different types of positions. One type of
7、perk that is common in many retail stores is an employee discount on merchandise bought from the place of employment.Useful TermsCash Bonus (现金分红现金分红/现金红利现金红利) Compensation paid to an employee or employees for achieving a particular sales goal or organizational objective. This is above and beyond ei
8、ther a Commission or a Salary. A corporation achieving a 10% increase in profits may distribute part of the earnings as a cash bonus to its employees.Useful TermsCall Center (客户服务呼叫中心客户服务呼叫中心) A call center is a physical place where customer and other telephone calls are handled by an organization,
9、usually with some amount of computer automation. Typically, a call center has the ability to handle a considerable volume of calls at the same time, to screen calls and forward them to someone qualified to handle them, and to log calls. Call centers are used by mail-order catalog organizations, tele
10、marketing companies, computer product help desks, and any large organization that uses the telephone to sell or service products and services.Useful TermsDistribution Center (配送中心配送中心) A distribution center is a warehouse or other specialized building, often with refrigeration or air conditioning, w
11、hich is stocked with products (goods) to be re-distributed to retailers, to wholesalers or directly to consumers.Useful TermsCorporation (股份有限公司股份有限公司/企业企业) A corporation is created (incorporated) by a group of shareholders who have ownership of the corporation, represented by their holding of commo
12、n stock. Shareholders elect a board of directors who appoint and oversee management of the corporation. Although a corporation does not necessarily have to be for profit, the vast majority of corporations are set up with the goal of providing a return for its shareholders. When you purchase stock yo
13、u are becoming part owner in a corporation. Useful TermsHolding Company (控股公司控股公司) A company that owns enough voting stock (有表决权的股票) in another firm to control management and operations by influencing or electing its board of directors. Also called parent company. Useful TermsRecognition (表彰表彰/认可认可/
14、奖励奖励) Recognition is the act of acknowledging someone for great work or accomplishments. Being recognized builds the morale and self-worth of a person. Recognition programs at workplaces are important because they encourage employees to work harder and build up appreciation for the company from work
15、ers. A recognition program might include rewards and prizes, a day off, additional pay or even just a mention of the persons good work in a public forum/gathering. Useful TermsResearch and Development/R&D (研究研究与开发与开发) In industry, two closely related processes by which new products and new forms of
16、old products are created through technological innovation. Once a new product has been created in a laboratory or other research setting, marketing specialists attempt to define the market for the product. Then, steps are taken to manufacture the product to meet the needs of the market. In industrie
17、s such as hi-tech and pharmaceuticals, R&D spending is quite high (5%), since products are outdated or attract competition quickly. Useful TermsSubsidiary (子公司子公司/附属公司附属公司) A subsidiary corporation or company is one in which another, generally larger, corporation, known as the parent corporation, ow
18、ns all or at least a majority of the shares. As the owner of the subsidiary, the parent corporation may control the activities of the subsidiary. This arrangement differs from an acquisition, in which a corporation purchases another company and dissolves the purchased companys organizational structu
19、re and identity. Useful TermsTurnover 1.TurnoverTurnover is sometimes a synonym for revenue, especially in European and South African usage. Great Britain: Great Britain: annual sales volume (annual sales annual sales volume (annual sales turnover).(turnover).(销售量销售量/ /营业额营业额) )2.Turnover (employmen
20、t): relative rate at Turnover (employment): relative rate at which an employer gains and loses staff, which an employer gains and loses staff, especially in North American usage. (especially in North American usage. (人人员流动或更换率员流动或更换率) ) Useful TermsDivision (事业部事业部) Self-sufficient unit within a com
21、pany. A division contains all of the departments necessary to operate independently from the parent company. An example is the Chevrolet Division of the General Motors Corporation. (美国通用汽车公司雪佛兰汽车部)Useful TermsFinal-salary Pension Scheme (最最终薪金退休金计划终薪金退休金计划) A pension scheme in which the amount of an
22、 employees pension is based on the number of years that they worked for each employer, multiplied by the salary s/he had at the end of each period of employment.Useful TermsVice-president Incumbent Programme (副总裁任职资格培训副总裁任职资格培训计划计划) A training program designed to develop eligibility of candidates fo
23、r VP/for pre-service VP.Useful TermsBrainstorm (脑力激荡脑力激荡/头脑风暴头脑风暴) Brainstorming is a group creativity Brainstorming is a group creativity technique designed to generate a large technique designed to generate a large number of ideas for the solution of a number of ideas for the solution of a problem
24、. There are four basic rules in problem. There are four basic rules in brainstorming intended to reduce social brainstorming intended to reduce social inhibitions among groups members, inhibitions among groups members, stimulate idea generation, and increase stimulate idea generation, and increase o
25、verall creativity of the group. 1. Focus overall creativity of the group. 1. Focus on quantity 2. Withhold criticism 3. on quantity 2. Withhold criticism 3. Welcome unusual ideas 4. Combine Welcome unusual ideas 4. Combine and improve ideasand improve ideasUseful TermsBreakout Area (休息区休息区) The brea
26、kout area is to provide a space that staffThe breakout area is to provide a space that staffcan visit to grab a coffee or have an informal can visit to grab a coffee or have an informal meeting. Common uses for breakout areas include:meeting. Common uses for breakout areas include:Casual MeetingsCas
27、ual MeetingsRelaxationRelaxationPrivate TimePrivate TimeOne-To-One MeetingsOne-To-One MeetingsInformal DiscussionsInformal DiscussionsVisitor Waiting AreasVisitor Waiting AreasUseful Expressionstake with a pinch of salt (有保留地有保留地, 不全信地不全信地): not completely believe something is true or likelycant say
28、 enough nice things about (赞不绝口赞不绝口): full of praises foramazement at her colleagues longevity: astonishment at her colleagues long duration or continuance of service in the companya new provider in the canteen: a new food caterer in the snack bar or cafeteriawho is in for the long haul: joins in fo
29、r long service in the company Benefit PackageTotal RewardBase PayBenefit PremiumCore BenefitsAdditional Benefit FundingLife Insurance, Holidays,Health Insurance, Medical Insurance, National Insurance, etc. (statutory & inflexible)Annual leave, company car, accommodation subsidy, meal allowance, 13th
30、 month pay, bonus, stock options, childcare/retail vouchers, relocation allowance, etc. + 20% base payCase Study 1Avon Each employee of the company is authorized to make a maximum of RMB 1000 worth purchases every month at the in-house store of the company at 30% off. The purchases shall be paid wit
31、h the company designated bank card. Case Study 2Expatriation costs for an Australian expatriate manager in Hong Kong earning an annual salary of $200,000.Case Study 3PricewaterhouseCoopers PricewaterhouseCoopers offers vouchers to maternity returners at the rate of 20% of the monthly pay for the fir
32、st 12 months following their return to work. It also offers them as an option within the companys flexible benefit plan to mothers and fathers outside the initial 12-month period. Typically the vouchers pay 100% of the childcare and, not surprisingly, the scheme is very much valued by employees. Cas
33、e Study 4 Benefit Package for Senior Manager of Core Pacific Yamaichi International (HK) LimitedCase Study 4SALARYRMB 15,000.00 per calendar month.YEARS END/13th Month BONUSOnce the Employee has completed a fullyears service s/he will be entitled to a year-endbonus around Chinese New Year whichamounts to one months salary. HOLIDAYS Case Study 4The Employee shall be entitled to 5 workingdays paid leave for each 12 monthsemployment. Thereafter the Employee is entitled to 1 additional working day paid leave per year of service up to a maximum paid leave of 14 days for each year.L/O/G/OThank You!
