Are you Providing Paid Time Off for COVID-19 Vaccinations?
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It is now more than a year into the COVID-19 pandemic; the vaccination rate in Hong Kong is below the target rate to reach herd immunity. Some companies are encouraging their employees to get vaccinated by providing vaccination leave and other perks. Are these practices becoming a trend? Read More...
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How to Increase Pay and Performance Alignment across Business Divisions?
The encouraging financial results in 2020 have inevitably increased pay expectations in the financial services industry. With some businesses outperform their peers both internally and externally, how to strengthen pay differentiation across business divisions? Read more... Can you justify your headcount number and staff costs?
With the increasing polarization of performance across different business divisions, the key takeaway is to ensure the return on investment for every compensation dollar spent is well justified. Read more... Bonus forecast to be down, but FS industry will get 4 months or more
With an unprecedented 2020, bonus in the financial services industry will be down by 10%-20%, but corporate functions will still get 4 months of salary as bonus. Read more... Maternity Leave Extend to 14 Weeks in HK, Family Friendly Policies Are the New Normal?
The bill to increase statutory maternity leave from 10 weeks to 14 weeks has been passed and will be in force by the end of 2020. The government also intends to increase statutory holidays from 12 to 17 days. Whether these family friendly and work-life balance policies have become the new normal amid COVID-19? Read more... 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... Over 40% of Companies Set to Revise Salary Budget as COVID-19 Continues to Ravage Economies
As the number of COVID-19 confirmed cases continue to rise, countries around the world are on different levels of lockdown. Many businesses have formulated strategies to navigate their way through this unprecedented crisis. 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 CEOs 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. Read more... 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. Read more... |
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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. Read more... |
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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. Read more... |
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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. Read more... |
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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. Read more... |
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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. Read more... |
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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.
Read more...
Long-Term Incentive Practices Survey finds significant increase in long-term incentive plans due to relaxation of share regulations in China.
Read more...
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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. Read more... |
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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. Read more... |
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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. Read More... |
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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. Read more... |
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