2013 Reports on Compensation, Benefits and Employment Practices
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- Garey Cummings
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1 Towers Watson Data Services Asia Pacific Towers Watson Data Services is a leading provider of compensation, benefits and employment practices information to the global employer community. In Asia Pacific, our research reports cover 19 countries/locations Reports on Compensation, Benefits and Employment Practices Your one-stop resource for all your data needs
2 Towers Watson Data Services 2013 Reports on Compensation, Benefits and Employment Practices in Asia Pacific Towers Watson s 2013 reports on compensation, benefits and employment practices provide market data for 19 countries/locations in Asia Pacific. The reports will help you to: Develop cost-effective salary and benefit packages Stay up-to-date with the latest HR developments Ensure compliance with local laws and customs Assess and compare the costs of employment within and across regions 2013 General Industry Compensation Reports by Country Your essential guides to planning and implementing objective compensation programs in Asia Pacific. Features 15 Country Reports Australia China (Local Nationals) Shanghai Beijing Shenzhen/Guangzhou 2 nd tier cities China (Expatriates & Local Plus) Hong Kong India Indonesia Japan Korea Malaysia Philippines Singapore Taiwan Thailand Vietnam Also available: Pakistan Saudi Arabia United Arab Emirates Industry Coverage All Industries Functions and Disciplines Executive/Profit center management General management and administrative services Corporate services and legal Marketing Sales (account management, Customer services and support Finance and accounting IT development and administration Human resources Engineering and R&D Manufacturing and operations Supply chain and purchasing direct and channel sales) Career Band Executives Supervisory/Management Professionals Customer/Client Management and Sales Technical Support Business Support Production/Operation Job Titles New in 2013 Generic Job Titles are provided to aid benchmarking Methodology Jobs are matched by Function, Discipline, Career Level and Global Grade Report Content Analysis of Compensation Generic Job Title, Description of Function, Discipline and Career Level Pay Elements: Base salary, fixed/guaranteed bonus, fixed allowances, guaranteed compensation, variable pay and total compensation Job Holder Data: Incumbent s age, years of service in company, years of relevant experience Executive Summary Economic, business and HR environment Compensation analysis by Global Grade Comparative compensation by industry and by function Salary increase trends and staff turnover rate Benefit provision Benefits and HR Policies and Practices Salary review and policies Guaranteed and variable payment Long-term incentive schemes Allowances Perquisites (car benefits, housing, club membership, mobile phone) Healthcare benefits Life insurance and retirement plans Company loans Business travel policy Leave policy, working hours and overtime Probation policies Starting salary for fresh graduates 2 hrresource.towerswatson.com
3 A sample page of General Industry Compensation Report. Data displayed are for illustrative purposes only General Industry Expatriates and Local Plus Compensation Report China The report provides information on remuneration packages offered to Expatriates and Local Plus employees working in China. Data is provided for key positions such as top management, functional heads, management and professional staff. Cash Analysis Analysis of cash components, including base salary, allowances, guaranteed and variable payment, and total cash. Benefits, and HR Policies and Practices All standard coverage as described above, plus: Tax equalization and tax protection Relocation assistance Hardship allowance, foreign services premium and COLA Perquisites (housing, children s education) Healthcare benefits with dependent coverage Home leaves, dependent visits Localization policy 2013 Asia Compensation Reports By Job Function The 2013 General Industry Compensation Reports are also available as By Job Function reports, combining data for 12 countries in a single report. The 12 countries/locations covered in each report are: China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam. The following 4 Asia General Industry Compensation reports are available: Report Title General Management, IT, Finance and Accounting Compensation Report Asia Human Resources and Administration Compensation Report Asia Manufacturing, Logistics, Engineering and Research Compensation Report Asia Sales, Marketing and Customer Services Compensation Report Asia Functions and Disciplines Covered General management, corporate affairs, strategic planning, legal service, finance, accounting, internal audit, IT development, internet/ web development, network operation and user support. Human resources, compensation and benefits, employee relations, employee development and training, recruitment and office services. Manufacturing operation, planning/control, quality assurance, industrial health and safety, supply chain, logistics, warehousing, distribution, purchasing, engineering and R&D. Marketing, communication, product marketing, market research, customer services, sales (account management, direct sales, channel sales), sales administration, technical sales support and telesales. Also presented in the report is the Regional Comparison Section, which enables the user to compare individual cash components among key positions across the region Reports on Compensation, Benefits and Employment Practices 3
4 Towers Watson Data Services 2013 Retirement and Risk Benefits Report Asia Pacific This report is a comprehensive guide to statutory benefits and company benefit practices across Asia Pacific. The report provides information on the costs of employment that will help you develop effective benefit plans in this dynamic region. With regular updates throughout the year, you can access the latest information via CompSource our online delivery tool. The 17 countries/locations covered in this report are: Australia, Bangladesh, China (covering 18 cities), Hong Kong/Macau, India, Indonesia, Japan, Korea, Malaysia, New Zealand, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam. Each country chapter is organized as follows: Overview of Benefits Distinctive features of the benefits environment Key changes in recent years Key data Social Security Retirement benefits Death and disability benefits Workers compensation Healthcare benefits Maternity benefits Unemployment benefits Contribution Mandatory Company Plans Retirement benefits Survivor and disability benefits Retirement termination indemnities Severance payments Voluntary Company Benefits Practice Retirement plans Supervisory bodies and regulations Funding methods Eligibility and retirement age Pensionable salary and services Vesting and portability Benefit formula Survivor and disability benefits Healthcare benefits Other voluntary company benefits Accounting and Reporting Tax Aspect of Benefits Program Useful Contacts Regional Comparisons Provision of social security programs Provision of mandatory company plans Provision of voluntary company plans Contribution of social security and mandatory company plans Economic key data Regional cost-of-living indices Output CompSource Asia Pacific Report (all 17 countries/locations) 16 By Country reports (also covering Employment Terms and Conditions) All of our compensation, benefits and employment terms reports are delivered via CompSource. CompSource is a reporting tool that allows you to access our reports online. It enables users to perform the following functions: access compensation data in different currencies aging of data Switch between monthly and annual salary representation Download data in Excel TM or download entire report in PDF format
5 Towers Watson Data Services Your one-stop resource for all your data needs 2013 Employment Terms and Conditions Report Asia Pacific A comprehensive coverage of employment laws in Asia Pacific contributed by legal experts in the region. The report contains detailed information that is essential to ensure compliance with local laws and customs. With regular updates throughout the year, you can access the latest information via CompSource our online delivery tool. The 19 countries/locations covered in this report are: Australia, Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, Sri Lanka, Taiwan, Thailand and Vietnam. Output Asia Pacific Report (all 19 countries/locations including Indochina) Indochina report (covering Cambodia, Laos and Myanmar) 16 By Country reports (also covering Retirement and Risk benefits) 2013 Retirement, Risk Benefits and Employment Terms By Country This report combines information from the Retirement and Risk Benefits Report and the Employment Terms and Conditions Report into a By Country report. With regular updates throughout the year, you can access the latest information via CompSource our online delivery tool. Each country chapter is organized as follows: Overview Distinctive features of the employment environment Key changes in recent years Key breakpoints related to number of employees Start of Employment Contract of employment Non-compete and other clauses Suspension of employment relationship and change of contract Trial period Employment of foreigners Other important recruitment issues Active Employment Pay Working hours Holidays and leave Equal opportunities Health and safety Training Social security Industrial Relations Framework for employee participation and representation Works council/employee representatives Collective bargaining Industrial action Termination of Employment Types of termination Notice period Termination of indemnity/ severance payment Termination at retirement Transfers of undertakings Managerial dismissals Appendices Useful contacts Also Available Sample employment contracts Benefits Distinctive feature in benefits, social security, mandatory company plans, voluntary company plans, taxation of benefits. Employment terms Contract of Employment, Employment of foreigners, pay, working hours/holidays, equal opportunities, health and safety, Industrial relations, terminations of employment. 16 country/location reports are available: Australia Malaysia Bangladesh New Zealand China Philippines Hong Kong Singapore India Sri Lanka Indonesia Taiwan Japan Thailand Korea Vietnam 5 hrresource.towerswatson.com
6 2013 Company Benefits and Practices Report Asia This survey report allows you to benchmark your benefit programs against the prevalent market practices in Asia. Feature Geographic Coverage China Hong Kong India Indonesia Japan Korea Malaysia Philippines Singapore Taiwan Thailand Vietnam Industry Coverage All Industries Employee Categories Content per Country General Management Executive Middle Management and Senior Professionals Salary review and policies Guaranteed and variable payment Long-term incentive schemes Allowances Perquisites (car benefits, housing, club membership, mobile phone) Healthcare benefits Professional and Supervisory Technical and Business Support Production/Operation/Manual Worker Life insurance Retirement plans Company loans Business travel policy Leave policy, working hours and overtime Probation policies Starting salary for fresh graduates The report also includes Regional Comparisons, which present a summary of benefits provision and enable the user to compare benefits across the region. 2013/2014 Company Car and Transportation Benefits Report This report assists you in rationalizing your car policy and managing your car benefits cost-effectively. Feature Geographic Coverage China Hong Kong India Indonesia Japan Korea Malaysia Philippines Singapore Taiwan Thailand Vietnam Industry Coverage All Industries Employee Categories The report is presented for sales and non-sales staff (subject to availability) and covers the following employee levels: General Management Professional and Supervisory Executive Technical and Business Support Middle Management and Senior Professionals Production/Operation/Manual Worker Country Analysis Output Types of Policy: Company car, driver, car subsidy, car allowance, mileage claim, reimbursement, company transport, transportation allowance Company Cars: Eligibility, car value, running cost, replacement period, policy after replacement Car Allowances/Transportation Allowance: Eligibility, amount Mileage Claim: Eligibility, mileage rate Reimbursement: Eligibility, reimbursement limit Car Loan/Car Ownership Plan: Eligibility, loan amount Car Benefit by Global Grade: Prevalence, car value, car allowance, transportation allowance Asia Report 12 By Country reports Copyright 2013 Towers Watson. All rights reserved. hrresource.towerswatson.com
7 Order Form 2013 Reports on Compensation, Benefits and Employment Practices in Asia Pacific Report Title (All prices quoted are in Ringgit Malaysia) CompSource only CompSource and Printed Report Compensation Report By Country 2013 General Industry Compensation Report - Australia 6,270 7, General Industry Local Chinese Nationals Compensation Report - China 6,930 8, General Industry Expatriates and Local Plus Compensation Report - China 6,105 7, General Industry Compensation Report - Hong Kong 5,940 7, General Industry Compensation Report - India 6,270 7, General Industry Compensation Report - Indonesia 5,940 7, General Industry Compensation Report - Japan 5,940 7, General Industry Compensation Report - Korea 5,940 7, General Industry Compensation Report - Malaysia 5,940 7, General Industry Compensation Report - Philippines 5,940 7, General Industry Compensation Report - Singapore 5,940 7, General Industry Compensation Report - Taiwan 5,940 7, General Industry Compensation Report - Thailand 5,940 7, General Industry Compensation Report - Vietnam 6,270 7,425 Also available: 2012 General Industry Survey Report Pakistan (no discount) 8,910 n/a 2012 General Industry Survey Report Saudi Arabia (no discount) 12,870 n/a 2012 General Industry Survey Report United Arab Emirates (no discount) 12,870 n/a Compensation Report - Asia (By Job Function) 2013 General Industry General Management, IT, Finance and Accounting Compensation Report - Asia 10,890 n/a 2013 General Industry Human Resources and Administration Compensation Report - Asia 10,890 n/a 2013 General Industry Sales, Marketing and Customer Services Compensation Report - Asia 10,890 n/a 2013 General Industry Manufacturing, Logistics, Engineering and Research Compensation Report - Asia 10,890 n/a 2013 The Complete Collection of Asia Compensation Reports (All of the above four reports) 41,250 n/a Benefits and Employment Terms Reports in Asia Pacific 2013 Retirement and Risk Benefits Report - Asia Pacific (previously Benefits Report Asia Pacific ) 6,270 7, Employment Terms and Conditions Report - Asia Pacific (including Indochina) 6,270 7, Employment Terms and Conditions Report - Indochina 2,970 n/a 2013 Employment Terms and Conditions Report - Indochina (by country) Cambodia Lao PDR Myanmar 1,155 n/a 2013 Company Benefits and Practices Report - Asia (previously Asia Pacific Survey Report on Employee Benefits ) 6,435 7, Retirement, Risk Benefits and Employment Terms Report (By Country ) CompSource only at MYR2,145 (per country) Australia India Malaysia Sri Lanka Bangladesh Indonesia New Zealand Taiwan China Japan Philippines Thailand Hong Kong Korea Singapore Vietnam 2013/2014 Company Car and Transportation Benefits Report 2013/2014 Company Car and Transportation Benefits Report - Asia -- (Full report for Asian countries) CompSource only at MYR4,950 Individual Country at MYR990 (CompSource only) China Indonesia Philippines Thailand Hong Kong Korea Singapore Vietnam India Malaysia Taiwan Multiple Purchase Discount Total Order Amount (MYR) 18,150 33,000 33,001 82,500 Over 82,500 Discount 10% 15% 20% Please return this order form by fax, mail or or visit us at: hrresource.towerswatson.com for report sample pages. Attention: Alice Ng Fax: alice.ng@towerswatson.com Tel: Mail: Towers Watson (Malaysia) Sdn Bhd, Menara Dion, #33-01, 27 Jalan Sultan Ismail, Kuala Lumpur Mr./Ms./Mrs.: Company name: Tel: (General) (Direct) Fax: Mailing address: Job title: Company website: Signature: Payment Method Please invoice our company. Payment enclosed. Please make cheque payable to Towers Watson (Malaysia) Sdn Bhd. Towers Watson is not responsible for any sales, gross receipts or similar taxes applicable to the report(s) and services. towerswatson.com
8 Data Services Terms and Conditions Towers Watson s surveys and the results of such surveys, including participation materials and related reports (collectively, surveys ) are made available by local Towers Watson affiliated companies which are directly or indirectly controlled by Towers Watson & Co. (collectively referred to as Towers Watson or the Towers Watson group ) on the following terms and conditions. Service Quality. Towers Watson will collect relevant data and conduct the surveys with reasonable care. While Towers Watson cannot be responsible for verifying the accuracy and completeness of each data submission, a Towers Watson associate will review each data submission for overall reasonableness. Towers Watson provides the surveys on an as is basis and does not provide a warranty or guarantee of any kind as to the accuracy or completeness of the surveys or the data or information contained therein. Survey results will be available only if there are sufficient participants in the applicable survey. Intellectual Property Rights. Towers Watson retains all intellectual property rights in the surveys. Unauthorized use or duplication without prior permissi on from Towers Watson is prohibited. You shall not refer to us or include any of our work product (including, without limitation, the surveys and the information they conta in) in any shareholder communication or in any offering materials (or fairness opinion provided by your professional advisers) prepared in connection with the public offering or private placement of any security, unless otherw ise agreed in writing. Use of Surveys. You may use the surveys only within your own organization for internal compensation planning and may not modify, sell or transfer such surveys. Surveys may not be reproduced in employee newsletters or posted on your company s intranet. If you desire to share the surveys (in whole or in part) with a third party (including any entity controlling, controlled by, or under common control with your company, Towers Watson s competitors and/or independent contractors working solely for your company), you m ust first obtain the written consent of Towers Watson. Any use of the information contained in the surveys is not a substitute for seeking expert legal, consulting or other advice on the reasonableness or appropriateness of c ompensation levels and practices. Limitation of Liability. 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Nothing in these terms shall exclud e or limit the liability of Towers Watson or our related persons in the case of: (a) death or personal injury resulting from Towers Watson s or Towers Watson s related person s negligence; (b) willful misconduct; (c) fraud; or (d) other liability to the extent that the same may not be excluded or limited as a matter of law. In no event shall Towers Watson or any of our related persons be liable for any incidental, special, punitive, or consequential damages of any kind (including, without limitation, loss of income, loss of profits, or other pecuniary loss). General. The validity and interpretation of these terms will be governed by the laws of the State of New York, United States of America, excluding its conflict of law rules. 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Participant Terms and Conditions By participating in Towers Watson s surveys, you will be deemed to have agreed to the following participation terms on behalf of your company and you represent that you ha ve authority to submit data. As a participant in this survey, your company's name will be included on survey participant lists. Survey participants must submit data on a timely basis and provide an accurate and complete data submission, including, if relevant, long-term incentive information and responses to the policies and practices questions. If your company s data submission is l ate or does not meet the requirements for a particular survey, Towers Watson may, at its discretion, limit/deny access to such survey results. For select surveys, par ticipants must submit executive data to purchase executive products, middle management, professional and support data to purchase non-executive products and industry-specific functions/disciplines/positions to purchase associated industry-specific survey products. Confidentiality and Use of Data. Participant data submitted to the surveys will be held in confidence. Towers Watson takes reasonable security precautions, including the same precautions Towers Watson takes to protect our own confidential information, to prevent unauthorized access. Participant data will be used by To wers Watson for purposes of creating aggregated survey results which are presented in a manner that protects individual company confidentiality. Towers Watson reserves the right to use participant d ata in multiple surveys, where relevant, which may be available to participants and non-participants. Participant data and survey results may be used by Towers Watson for training, quality assurance, research and development, compensation consulting services (e.g., market/job pricings) and general promotional activities such as trends analysis that are provided to survey participants and other selected clients of Towers Watson. Data Protection. Towers Watson may pass participant data, which may include individually identifiable information ( personal data ) within its global network of offices and affiliates (including the Towers Watson Global Resource Centre) and to subcontractors and providers of IT outsourcing who will be subject to appropriate data protection standards. The Global Resource Centre is located in Manila, The Philippines, and will be used to analyze such data in connection with the surveys. The Manila corporate entity is a wholly owned subsidiary in the Towers Watson group, and it is governed by the same information security policies and internal controls that govern the Towers Watson group as a whole. Towers Watson confirms that, acting as data proc essor, Towers Watson will take appropriate technical, physical and organizational/administrative measures to protect such data against accidental or unlawful destruction or accidental loss or unauthorized alteration, disclosure or access. Towers Watson will use personal data only for the purposes described above or for other reasonable purposes which are related to the surveys and services, unless a participant instructs Towers Watson otherwise. Participant and Towers Watson shall each comply with applicable data privacy legislation and regulations. towerswatson.com
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