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Zhaopin: No Year-End Bonus for Over 50% of Chinese White-Collar Workers in 2016
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PR Newswire
BEIJING, Jan. 12, 2017
BEIJING, Jan. 12, 2017 /PRNewswire/ -- Zhaopin Limited (NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career platform1 in China focused on connecting users with relevant job opportunities throughout their career lifecycles, released its 2016 White-Collar Worker Year-End Bonus Survey Report. The report found that more than 50% of white-collar workers in China did not get year-end bonuses in 2016.
Zhaopin conducted its annual survey on year-end bonuses at the end of 2016, and more than 11,500 white-collar workers participated.
Key Findings of Zhaopin White-Collar Worker Year-End Bonus Survey for 2016:
- 50.9% of white-collar workers did not get any year-end bonus in 2016, compared with 66% in 2015.
- The average year-end bonus for white-collar workers in 2016 was RMB12,821, higher than RMB10,767 in 2015, but lower than RMB13,613 in 2014.
- The finance industry offered the highest average year-end bonus in 2016 at RMB17,241, followed by RMB16,839 for real estate/construction.
- White-collar workers in Beijing got the highest average year-end bonus at RMB15,846, followed by RMB14,640 in Shanghai and RMB14,605 in Shenzhen.
- Nearly 40% of white-collar workers would seek to switch jobs based on year-end bonus considerations.
Low Satisfaction with Year-End Bonus
According to Zhaopin's survey, 50.9% of survey respondents did not get any year-end bonus in 2016, down from 66% in 2015. 39.5% of white-collar workers had received their bonuses by the end of 2016, much higher than 13.4% in 2015.
| 2016 year-end bonuses for white-collar workers | |
| Percentage | Details |
| 50.9% | No year-end bonus |
| 39.5% | Had received year-end bonuses |
| 9.6% | Company promised year-end bonuses after new year holiday |
Cash is still the most common form of year-end bonus for white-collar workers. Some companies offered physical gifts as annual bonuses, including company-made products, cameras, liquor, pork, fish, fruits, sauna coupons, inflatable dolls, rice cookers, tissue paper, and lottery tickets.
| Types of year-end bonus in 20162 | |
| Type | Percentage |
| Cash | 95.22% |
| Physical gifts | 9.88% |
| Stocks/options | 2.44% |
| Others | 6.11% |
White-collar workers' satisfaction with year-end bonuses in 2016 remained at a low level of 2.18 (measured from 0 to 5, with 5 as the highest), although slightly higher than 2.07 in 2015, Zhaopin found. Employees in state-owned enterprises had the highest satisfaction score at 2.46, while workers at private companies had the lowest satisfaction score of 2.07.
| 2016 year-end bonus satisfaction index by types of companies | |
| Type of company | Index |
| State-owned enterprises | 2.46 |
| Wholly foreign-owned enterprises (including HK, Macao and Taiwan) | 2.43 |
| Joint ventures | 2.38 |
| Public institutions | 2.29 |
| Private companies | 2.07 |
In terms of work experiences, employees with less than one year's experience had the highest satisfaction (2.45) with the annual bonus, as their expectations were relatively low. The satisfaction with year-end bonuses declined as work experience increased because more experienced white-collar workers had higher expectations, said Zhaopin experts.
| 2016 year-end bonus satisfaction index by experience | |
| Experience | Index |
| Within 1 year | 2.45 |
| 1 to 3 years | 2.20 |
| 3 to 5 years | 2.10 |
| 5 to 8 years | 2.11 |
| 8 to 10 years | 2.19 |
| Over 10 years | 2.19 |
Finance Industry Had Highest Average Year-End Bonus
The average year-end bonus for white-collar workers in 2016 was RMB12,821, higher than RMB10,767 in 2015, but lower than RMB13,613 in 2014, according to Zhaopin's survey.
| Average year-end bonus for white-collar workers | |
| Year | Average bonus (yuan) |
| 2016 | 12,821 |
| 2015 | 10,767 |
| 2014 | 13,613 |
The finance industry offered the highest average year-end bonus in 2016, at RMB17,241, followed by RMB16,839 for the real estate/construction industry. The eEducation/arts and crafts industry had the lowest average year-end bonus at RMB7,433.
| 2016 average year-end bonus for white-collar workers by sectors | |
| Sector | Bonus (yuan) |
| Finance | 17,241 |
| Real estate/construction | 16,839 |
| Energy/minerals/environment protection | 15,969 |
| Agriculture/forestry/animal husbandry/fishery | 13,658 |
| IT/telecom/electronics/internet | 12,795 |
| Automobile/processing/manufacturing | 12,191 |
| Culture/media/entertainment/sports | 11,919 |
| Professional services (consulting/accounting/legal/advertising /PR/certification/outsourcing) | 10,574 |
| Government/non-profit organizations | 10,358 |
| Services(healthcare/nursing/beauty/hotel/restaurant/tourism /vacation) | 10,237 |
| Trade/wholesale/retail/leasing/fast-moving consumer goods /durable consumer goods | 9,067 |
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