Over 40% of Companies Set to Revise Salary Budget as COVID-19 Continues to Ravage Economies ​

Impact of COVID-19 and HR Action Survey

As the number of COVID-19 confirmed cases breaks 5 million, countries around the world are on different levels of lockdown. Many businesses have formulated strategies to navigate their way through this unprecedented crisis. Our survey shows that over 40% of companies revised their salary review budget, with over 60% of senior executives taking a pay cut.   Read more 

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How to Differentiate Pay Amid Coronavirus?
In light of a fluctuating global stock market and uncertainties caused by the coronavirus, a tightening budget triggers the need for more vigorous pay differentiation. Read more ​

Is Your Voluntary Contribution of MPF Competitive?
​Mandatory Provident Fund (MPF) Schemes Authority reported a 64% year-to-date increase of tax deductible voluntary contributions (TVC) accounts in June 2019. More companies are trying to make use of TVC to reinforce staff retention. Join the Pretium Benefits & Employment Conditions Survey to get the latest market practice on MPF and other benefits. >>Read more

Heavy Use of Incentives Have Become the New Normal, Are You Ready?
​With more widespread use of share based incentives in Greater China, incentives have become the key pivot in driving total compensation. Many companies are buying back shares and realigning incentive plans to cope with the new normal.  Are you encountering the following situation(s)? Read more...

​Incentive Pay Makes Top US CEOs & CFOs Best Paid in World, According to First-Ever Global 250 Survey
C​EOs and CFOs of the largest US global companies are paid more than counterparts around the world because they earn larger incentive compensation based on performance. 
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​How to Retain Key Talent after Bonus Season?
March and April are the lucrative months for employees due to the bonus season. However, this period often causes headaches among the HR due to the large number of resignations after the bonus payout. In order to prevent employees from walking out of the door with the bonus, HR needs to rethink how best to retain especially key talent after the bonus season.
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Pretium Compensation Level Survey Report
The report provides up-to-date line-by-line market data for each position, and includes value added analyses on comparative ratios, pay and bonus allocations, bonus quantum and compensation mix which help client identify market gaps and facilitate business decisions.
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Differentiating Bonus with Performance 
Pay-for-performance can sometimes seem an illusory concept as it can have very different meanings to different employees within the company. CEOs often face the dilemma on how to balance different levels and aspects of performance and to what extent the defined performance combine with other considerations in determining bonus payouts.
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Are your INED fees back to the 90s ?
​HKMA suggests the basic fee of independent non-executive directors (INED) should be at least HK$400,000 per year. However, current INED fees generally remain at levels obtained back in the 1990s. This has discouraged some qualified talent to take up the roles. 
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Is a Formula Better than Discretion in Paying Incentives?
Alignment between pay and performance has become increasingly important especially during economic uncertainties; there is constant debate on whether incentives should be determined by a formula or discretion to increase alignment.
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Rippling Effect – More Industries Embrace Partnership
Pretium survey finds more companies use long-term incentives to reinforce alignment and promote partnership.
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Long-Term Incentives are Flourishing in Greater China
​Long-Term Incentive Practices Survey finds significant increase in long-term incentive plans due to relaxation of share regulations in China.
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Strengthen Performance Planning to Drive Performance Management
March denotes the end of a fiscal year, so April becomes the best time for performance planning and target setting. A carefully designed performance planning process can boost efficiency and facilitate the appraisal process at the end of the year.
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Globalization - It's Easier Said than Done
The emphasis of the Belt and Road Initiative has given new impetus to companies to tap on the globalization opportunities. However, many companies are struggling to balance the paradoxical demand to think globally and act locally.
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Budgeting and Manpower Planning: Top-Down or Bottom-Up?
With the end of the third quarter around the corner, it marks the time of the year for HR leaders to partner with Finance counterparts to drive the annual budget and manpower planning process. Read more about our perspective on the practical approaches and how HR can drive the budgeting and manpower planning processes to reposition and reinforce HR as a strategic partner.
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Strengthen Pay and Performance Alignment For Top Executives
Pretium’s Top Management Pay Practices Study (“Pretium Study”) found that pay and performance alignment among major listed companies in Hong Kong and mainland China has been less stringent than their counterparts in London. Enabling executive pay to fluctuate meaningfully with company performance over time is critical to long-term business success and motivating senior executives.
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