2014 General Industry Expatriates and Local Plus Compensation Report - China

Transcription

1 Towers Watson Data Services 2014 General Industry Expatriates and Local Plus Total Cash Compensation General Industry

2 TABLE OF CONTENTS Introduction... 3 About This Report Profile of Participants Survey Methodology and User Guide I. Introduction to Survey Methodology II. Matching Guidelines III. Job Functions and Disciplines IV. Career Bands, Career Levels and Global Grades Definitions Executive Summary I. Economic Key Data II. Analysis of Expatriate Policy and Practices III. Formal Policy on Expatriates Localization IV. Salary Increase and Manpower V. Benefits Provision Benefits, HR Policies and Practices EXPATRIATES I. Compensation and Benefit Policy Review Policy Review Base Pay Policy Benefit Policy II. Salary Review, Administration, Tax Arrangement, and Staff Turnover Salary Increase Salary Review Policy for Expatriates Tax Arrangement Staff Turnover Rate III. Bonuses and Stock Plans Fixed Bonus Variable Bonus Stock Option / Share Purchase Plan IV. Expatriate Premium and Other Cash Allowances Expatriate Premium Foreign Service Premium Hardship Allowance Cost of Living Allowance Meal Arrangement 2014 General Industry Expatriates and Local Plus 5

3 TABLE OF CONTENTS V. Perquisites Transportation Assistance Company Car Club Membership Children Education VI. Relocation Arrangement VII. Housing Benefit Type of Provision Salary Deduction Type of Accommodation Rental Reimbursement Fixed Cash Housing Allowance Management Fee and Utilities VIII. Healthcare Benefits Type of Provision Outpatient Hospitalization Maternity Other Medical Provision Emergency Medical Arrangement IX. Insurance and Retirement Insurance Coverage Life Insurance Personal Accident Insurance / Accidental Death & Dismemberment Rider Total Permanent Disability Disability Income Business Travel Insurance Retirement Benefit X. Leave Arrangement Annual Leave Home Leave Dependants Visit to China Sick Leave Maternity Leave Paternity Leave Marriage Leave Bereavement Leave XI. Working Hours and Public Holidays Saturday Off Policy Public Holidays XII. Contract Terms General Industry Expatriates and Local Plus 6

4 TABLE OF CONTENTS LOCAL PLUS I. Compensation and Benefit Policy Review Policy Review Base Pay Policy Benefit Policy II. Salary Review, Administration, Tax Arrangement, and Staff Turnover Salary Increase Salary Review Policy for Expatriates Tax Arrangement Staff Turnover Rate III. Bonuses and Stock Plans Fixed Bonus Variable Bonus Stock Option / Share Purchase Plan IV. Expatriate Premium and Other Cash Allowances Expatriate Premium Hardship Allowance Cost of Living Allowance Meal Arrangement V. Perquisites Transportation Assistance Company Car Club Membership Children Education VI. Relocation Arrangement VII. Housing Benefit Type of Provision Salary Deduction Type of Accommodation Rental Reimbursement Fixed Cash Housing Allowance Management Fee and Utilities VIII. Healthcare Benefits Type of Provision Outpatient Hospitalization Maternity Other Medical Provision Emergency Medical Arrangement 2014 General Industry Expatriates and Local Plus 7

5 TABLE OF CONTENTS IX. Insurance and Retirement Insurance Coverage Life Insurance Personal Accident Insurance / Accidental Death & Dismemberment Rider Total Permanent Disability Disability Income Business Travel Insurance Retirement Benefit X. Leave Arrangement Annual Leave Home Leave Dependents Visit to China Sick Leave Maternity Leave Paternity Leave Marriage Leave Bereavement Leave XI. Working Hours and Public Holidays Saturday Off Policy Public Holidays XII. Contract Terms Analysis of Cash Compensation EXPATRIATES Generic Title Job Code Discipline Career Level Page no. Top Executive Chief Executive Officer AAA000 EX 17 Chief Executive Officer Executive 121 Chief Executive Officer AAA000 EX 16 Chief Executive Officer Executive 122 Profit Center Management Profit Center Head AAB000 EX 19 Profit Center Head Executive 123 Profit Center Head AAB000 EX 15 Profit Center Head Executive 124 Strategic Planning/Corporate Development Strategic Planning / Corporate Development Manager ACD000 M2 12 Strategic Planning/Corporate Development Manager 125 Finance Head of Finance AFA000 EX 17 Finance Executive 126 Senior Finance Manager AFA000 M3 15 Finance Senior Manager 127 Finance Manager AFA000 M2 13 Finance Manager 128 Finance Supervisor AFA000 M1 11 Finance Supervisor 129 General Management and Administration General Management and Administration Manager AGA000 M2 13 General Management and Administration Human Resources Head of Human Resources AHR000 EX 17 HR Generalist/Consultant Information Technology Senior IT Manager AIC000 M3 15 Information Technology Manager 130 Executive 131 Senior Manager General Industry Expatriates and Local Plus 8

6 TABLE OF CONTENTS Generic Title Job Code Discipline Career Level Page no. IT Supervisor AIC000 M1 11 Information Technology Manager, Supervisor 133 Sales and Marketing Head of Sales and Marketing AMJ000 EX 16 Sales and Marketing Executive 134 Senior Sales and Marketing Manager AMJ000 M3 15 Sales and Marketing Senior Manager 135 Senior Sales and Marketing Manager AMJ000 M3 14 Sales and Marketing Senior Manager 136 Sales and Marketing Manager AMJ000 M2 13 Sales and Marketing Manager 137 Sales and Marketing Supervisor AMJ000 M1 11 Sales and Marketing Supervisor 138 Marketing Head of Marketing AMK000 EX 17 Marketing Executive 139 Manufacturing/Operations Head of Manufacturing AOM000 EX 17 Manufacturing/Operations Executive 140 Project/Program Management Senior Project Manager APM000 M3 15 Project/Program Management Senior Manager 141 Account Management Account Manager CAM000 M2 13 Account Management Manager 142 Channel Sales Senior Channel Sales Manager CSC000 M3 15 Channel Sales Senior Manager 143 Senior Channel Sales Manager CSC000 M3 14 Channel Sales Senior Manager 144 Channel Sales Manager CSC000 M2 13 Channel Sales Manager 145 Sales Support and Administration Sales Administration Manager CUS000 M2 12 Sales Support and Administration Manager 146 LOCAL PLUS Generic Title Job Code Discipline Career Level Page no. Top Executive Chief Executive Officer AAA000 EX 16, 17 Chief Executive Officer Executive 147 Profit Center Head AAB000 EX 17 Profit Center Head Executive 148 Profit Center Management Administration Manager AAS000 M2 12, 13 Administrative Services Manager 149 Corporate Affairs/Communications Senior Corporate Affairs/Communications Manager Corporate Affairs/Communications Manager Strategic Planning/Corporate Development Senior Strategic Planning / Corporate Development Manager Strategic Planning / Corporate Development Specialist Senior Strategic Planning / Corporate Development Manager ACA000 M3 15 Corporate Affairs/Communications ACA000 M2 13 Corporate Affairs/Communications ACD000 M3 14, 15 Strategic Planning/Corporate Development ACD000 P3 11, 12 Strategic Planning/Corporate Development ACD000 P4 14 Strategic Planning/Corporate Development Senior Manager 150 Manager 151 Senior Manager 152 Professionals (Career) 153 Professionals (Specialist) 154 Finance Senior Finance Manager AFA000 M3 15 Finance Senior Manager 155 Finance Manager AFA000 M2 12, 13 Finance Manager General Industry Expatriates and Local Plus 9

7 TABLE OF CONTENTS Generic Title Job Code Discipline Career Level Page no. Financial Analysis and Tax Senior Financial and Tax Analyst AFT000 P3 12 Financial Analysis and Tax Professionals (Career) 157 Human Resources Head of Human Resources AHR000 EX 17, 18 HR Generalist/Consultant Executive 158 Head of Human Resources AHR000 EX 16 HR Generalist/Consultant Executive 159 Senior Human Resources Manager AHR000 M3 14, 15 HR Generalist/Consultant Senior Manager 160 Human Resources Manager AHR000 M2 12, 13 HR Generalist/Consultant Manager 161 Human Resources Specialist AHR000 P4 13, 14 HR Generalist/Consultant Professionals (Specialist) 162 IT Development Senior IT Development Manager AID000 M3 14 IT Development Senior Manager 163 IT Administration Senior IT Administrator AIT000 P3 11, 12 IT Administration Professionals (Career) 164 IT Administration Specialist AIT000 P4 13 IT Administration Professionals (Specialist) 165 Marketing Senior Marketing Manager AMK000 M3 14 Marketing Senior Manager 166 Marketing Manager AMK000 M2 13 Marketing Manager 167 Senior Marketing Officer AMK000 P3 11, 12 Marketing Professionals (Career) 168 Marketing Analyst AMK000 P2 10 Marketing Professionals (Intermediate 169 Career) Project/Program Management Senior Project Manager APM000 M3 14 Project/Program Management Senior Manager 170 Project Manager APM000 M2 13 Project/Program Management Manager 171 Project Manager APM000 M2 12 Project/Program Management Manager 172 Senior Project Officer APM000 P3 12 Project/Program Management Professionals (Career) 173 Senior Project Officer APM000 P3 11 Project/Program Management Professionals (Career) 174 Quality Assurance Methods Senior Quality Assurance Manager AQY000 M3 14 Quality Assurance Methods Senior Manager 175 Quality Assurance Manager AQY000 M2 12 Quality Assurance Methods Manager 176 Engineering Senior Engineering Manager AZE000 M3 14 Engineering Senior Manager 177 Sales Senior Sales Manager CSA000 M3 14 Sales Senior Manager 178 Sales Manager, Sales Lead CSA000 M2, S3 11, 12 Sales Manager, Customer 179 Management and Sales (Career) Sales Representative CSA000 S2 10 Sales Customer Management and Sales (Intermediate Career) 180 Appendices Exchange Rates About Towers Watson Data Services General Industry Expatriates and Local Plus 10

8 ABOUT THIS REPORT Overview This report consists of information on salary and benefits data compiled from Towers Watson's General Industry Total Compensation Survey database contributed by leading employers. All the data contained in this report have been carefully reviewed for validity, accuracy and reliability. Following validation of the data submitted, participants were recontacted to discuss and resolve any potential data distortion. All compensation information is presented as of January 1, For those companies that submitted data as of an earlier date, a projected increase percentage has been used to adjust the data to be current as of January 1, All figures in the report are in local currency unless otherwise indicated. Following is a brief description of the main sections of the report. Profile of Participants This section presents summary data of the size, nationality and industrial classification of the participating companies, as well as a full list of the participants. Survey Methodology and User Guide An overview of our survey methodology provides guidelines on how the surveyed jobs are structured and measured. The following subjects are covered: Introduction to survey methodology Matching guidelines Job functions and disciplines Description of Career Bands, Career Levels and Global Grades Definitions This section presents definitions of the survey elements and terms used. Executive Summary This section begins by setting the scene in terms of the economic and HR environment. An analysis is also provided of the key aspects of employment, and of reward packages provided for different employee levels by employers in different industries. Analysis of Compensation This section forms the heart of the report. Details of salaries, guaranteed bonuses, allowances and variable payments are presented here for each job. Also included are generic titles, descriptions of functions, disciplines and career levels, and a statistical summary of the demographics of job holders. The output for each job is as follows: Nature of the Job Description of the function (job family), discipline (sub-family) and career level (employee level). For descriptions of the Global Grades, please refer to the Career Band section under Survey Methodology and User Guide. Incumbent Data (subject to the availability of data) Job holder s age, years of service in the company and years of relevant experience. Compensation Component By Career Level By Global Grade (Data by Global Grade is available only if more than one grade is represented within a Career Level) Individual Compensation Component 12-month base salary Fixed/guaranteed bonus Fixed/guaranteed bonus as a % of Base Salary Base salary Total fixed cash allowances 2014 General Industry Expatriates and Local Plus 12

9 ABOUT THIS REPORT Total fixed cash allowances as a % of base salary Total guaranteed compensation Actual total variable pay Actual total variable pay as a % of base salary Actual total compensation For definitions of the above survey components, please refer to the Definitions section of this report. Sample Template (Data displayed are for illustration purpose only, coverage will depend on the availability of data) Description of the job function (job family) Description of the discipline (sub-family) Description of the career level (employee level) (i.e., executive, manager, business support) The job holder's data is shown here to help users validate the results Data is presented by career level (M3), which consists of Global Grades 14 Job Code: CAM000 M3 G14 Generic Title: Senior Account Manager Function : Account Management Builds and maintains effective long term relationships with a defined customer base to ensure a high level of satisfaction and increase revenues. Serves as the primary interface for all products and services, and creates demand for the organizationʹs products and services by raising their profile with customers. Typically has a limited number of key/strategic accounts and maintains relationships with clients at the senior management or executive level. Discipline: Account Management Builds and maintains effective long term relationships and a high level of satisfaction with key senior level decision makers and influencers at an assigned group of customer accounts that typically includes a limited number of major strategic customers within a geographic or industry focus Creates demand for the organizationʹs products and services by raising their profile with customers Achieves revenue targets by increasing revenue spend per account Conducts regular status and strategy meetings with the customerʹs senior management to understand their needs and link them to the organizationʹs product/service strategies Responsibilities are within the Account Management Function as a generalist or in a combination of Disciplines Career Level: Senior Manager M3 Provides leadership to managers, supervisors and/or professional staff Is accountable for the performance and results of multiple related units Develops departmental plans, including business, production and/or organizational priorities Controls resources and policy formation in area of responsibility Decisions are guided by resource availability and functional objectives Incumbent Data 10th 25th Median 75th 90th Average Global Grade 14 Companies 6 Incumbents 18 Incumbent s Age Years of Relevant Experience Cash Compensation (RMB 000) Incumbents Receiving 10th 25th Median 75th 90th Average Global Grade 14 Companies 6 Incumbents Month Base Salary ,001 1, Fixed/Guaranteed Bonus 6 Fixed/Guaranteed Bonus as a % of Base Salary Base Salary ,001 1, Total Fixed Cash Allowances Total Fixed Cash Allowances as a % of Base Salary Total Guaranteed Compensation ,027 1,423 1,674 1,072 Actual Total Variable Pay Actual Total Variable Pay as a % of Base Salary Actual Total Compensation ,410 1,644 1,916 1,305 Job Code CAM Function 000 Discipline M3 Career Level G14 Global Grade Generic Title A frequently used job title for general Data is presented in percentile (see "Definitions" under Survey Methodology and User Guide) Number of job holders receiving a particular compensation item Number of companies and job holders reporting to this position Definition of survey component can be found under Survey Methodology and User Guide Appendices This section includes an exchange rate table and a brief description of Towers Watson Data Services and local contact details General Industry Expatriates and Local Plus 13

10 PROFILE OF PARTICIPANTS A. Nationality of Parent Company Percentage of Companies Europe 30 Rest of Asia Pacific 22 United States 20 Hong Kong 11 China 10 Taiwan 7 B. Industrial Classification of Offices Number of Offices Percentage of Total Banking Insurance 6 13 Real Estate 6 13 Consumer Products 4 9 High Tech 3 7 Semiconductor 2 4 Manufacturing 1 2 Others 2 4 Total General Industry Expatriates and Local Plus 15

11 SURVEY METHODOLOGY AND USER GUIDE I. Introduction to Survey Methodology The Towers Watson survey methodology is an integrated process combining elements from each of our two proprietary leveling methodologies, Career Map and the Global Grading System (GGS). The combination provides a systematic approach to matching jobs that encompasses the concept of career progression through Career Levels with differentiated job size as determined by Global Grades. Career Map: Career Level methodology is based on a series of Career Bands, each with a number of distinct Career Levels. Career Bands enable companies to identify jobs based on progressive levels of expected contribution. Career Levels represent broad steps in a career progression, which are consistent across organizations. They reflect the normal market progression of jobs requiring higher levels of competence and knowledge as people advance in their careers. Global Grading System: The Global Grading System (GGS) measures the relative internal value of distinct jobs within a company according to specific dimensions and aligns those values with quantifiable differences in pay levels in the external marketplace. Global Grades, which are linked to organization size, reflect the impact of size on job scope at higher levels, thus enhancing data comparability across organizations of varied size. They provide the foundation, or underpinning, for both Executive Benchmarks and the broad-based Career Levels and define the start and end points of a career progression. There are 7 Career Bands. Within each band there are 4 to 6 Career Levels, which span 6 to 7 Global Grades. The following table indicates the Career Levels and Global Grades for each of the seven Career Bands. Career Band (letter) Career Levels Representative Global Grades Executive (EX) N/A G15 - G25 Supervisory/Management (M) M1 - M5 G10 - G17 Professional (P) P1 - P6 G08 - G17 Customer/Client Management and Sales (S) S1 - S6 G08 - G17 Technical Support (T) T1 - T4 G05 - G10 Business Support (U) U1 - U4 G04 - G09 Production/Manual Labor (W) W1 - W4 G02 - G General Industry Expatriates and Local Plus 18

12 BENEFITS, HR POLICIES AND PRACTICES Expatriates X. Leave Arrangement Type of policy Percentage of Companies Annual leave 87 Home leave 62 Coverage of dependant visit to China 21 A. Annual Leave 1. Annual leave policy Percentage of Companies Home country policy 70 China policy 24 Others 6 2. Basic entitlement (in number of days) (% of companies) Management Non-management 10 and below Maximum entitlement (in number of days) (% of companies) Management Non-management More than Maximum entitlement in number of years in service (% of companies) Management Non-management Independent of service and above General Industry Expatriates and Local Plus 76

13 ANALYSIS OF CASH COMPENSATION Expatriates Job Code: AFA000 M1 G11 Generic Title: Finance Supervisor Function : Finance Develops, implements and maintains the financial plans and policies of the organization. Establishes fiscal controls, prepares financial reports, maintains relations with investment and banking communities, advises management on financial affairs and assists in long range planning. Discipline: Finance Performs a variety of financial activities, including accounting, financial analysis, audit, tax, credit and collections Develops and evaluates financial plans and policies Establishes and maintains accounting, financial, and reporting policies and controls Career Level: Supervisor M1 Coordinates and supervises the daily activities of business or technical support or production team Sets priorities for the team to ensure task completion; coordinates work activities with other supervisors Decisions are guided by policies, procedures and business plan; receives guidance and oversight from manager Typically does not spend more than 20% of time performing the work supervised Incumbent Data 10th 25th Median 75th 90th Average Global Grade 11 Companies 3 Incumbents 12 Incumbent s Age Years of Relevant Experience Cash Compensation (RMB 000) Incumbents Receiving 10th 25th Median 75th 90th Average Global Grade 11 Companies 3 Incumbents Month Base Salary Fixed/Guaranteed Bonus 4 Fixed/Guaranteed Bonus as a % of Base Salary Base Salary Total Fixed Cash Allowances Total Fixed Cash Allowances as a % of Base Salary Total Guaranteed Compensation Actual Total Variable Pay Actual Total Variable Pay as a % of Base Salary Actual Total Compensation Global Grade Differentiator of applicable Career Levels can be found in Survey Methodology and User Guide of the report. Generic title is for general reference only, please refer to Survey Methodology and User Guide for benchmarking detail General Industry Expatriates and Local Plus 129