Welcome!

News Feed Item

Zhaopin: No Year-End Bonus for Over 50% of Chinese White-Collar Workers in 2016

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

Traffic/transportation/logistics/warehousing

8,937

Education/arts and crafts

7,433

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.

2016 average year-end bonus for white-collar workers by cities

Ranking

City

Bonus (yuan)

Ranking

City

Bonus (yuan)

1

Beijing

15,846

18

Tianjin

10,392

2

Shanghai

14,640

19

Jinan

10,143

3

Shenzhen

14,605

20

Dalian

9,741

4

Hangzhou

13,765

21

Qingdao

9,727

5

Zhengzhou

13,283

22

Taiyuan

9,679

6

Nanjing

13,188

23

Nanning

9,344

7

Chongqing

13,100

24

Changchun

9,267

8

Chengdu

12,981

25

Hefei

8,980

9

Changsha

12,961

26

Xiamen

8,859

10

Foshan

12,888

27

Nanchang

8,667

11

Xi'an

12,777

28

Guiyang

8,125

12

Guangzhou

12,455

29

Kunming

7,288

13

Fuzhou

12,265

30

Wuxi

6,850

14

Wuhan

11,538

31

Shijiazhuang

6,836

15

Dongguan

11,320

32

Ningbo

6,812

16

Suzhou

11,143

33

Yantai

6,667

17

Harbin

10,417

34

Shenyang

5,250

The more work experience, the higher the year-end bonuses for white-collar workers, Zhaopin found. The average year-end bonus for employees with more than ten years of experience was RMB20,471, compared with RMB5,675 for employees with less than one year of experience.

2016 average year-end bonus for white-collar workers by experience

Experience

Bonus (yuan)

Within 1 year

5,675

1 to 3 years

9,024

3 to 5 years

10,907

5 to 8 years

15,872

8 to 10 years

15,231

Over 10 years

20,471

Among different types of companies, state-owned enterprises had the highest average year-end bonus at RMB17,318, while private companies had the lowest average year-end bonus, at RMB11,271.

2016 average year-end bonus for white-collar workers by types

of companies

Type of company

Bonus (yuan)

State-owned enterprises

17,318

Public institutions

12,222

Wholly foreign-owned enterprises

(including HK, Macao and Taiwan)

11,971

Joint ventures

11,585

Private companies

11,271

The average year-end bonus for senior-level managers was RMB28,639, compared with RMB10,009 for ordinary employees.

2016 average year-end bonus for white-collar workers by levels

Level

Bonus (yuan)

Ordinary employees

10,009

Low-level managers

13,109

Senior professionals

17,760

Mid-level managers

19,039

Senior-level managers

28,639

In terms of occupations, white-collar workers in marketing/PR/advertising had the highest average bonus at RMB16,354, followed by RMB14,850 for R&D. Employees working in administration/logistics had the lowest average year-end bonus of RMB8,144.

2016 average year-end bonus for white-collar workers by occupations

Occupation

Bonus (yuan)

Marketing/PR/advertising

16,354

R&D

14,850

Design

14,833

Finance

14,112

Technology

13,825

Legal

13,579

Sales

13,372

Product

13,364

Operations

13,279

Purchasing

12,476

Human resources

9,982

Customer service

9,650

Administration/logistics

8,144

Year-End Bonus Impacting Job Hopping

When asked about how important the year-end bonus is in evaluating a job, the average answer was 3.77 (measured from 0 to 5, with 5 as the most important) in 2016, slightly higher than 3.71 in 2015. The year-end bonus was also an important factor when white-collar workers consider job changes. Nearly 40% would seek to switch jobs based on year-end bonus considerations.

Importance of year-end bonus on job hopping

Intention for job hopping

Percentage

Yes. Year-end bonus is very important consideration

20.6%

Yes. Year-end bonus is a deciding factor

18.4%

Possible. No decision yet

24.7%

No. Year-end bonus is important, but not decisive

for job hopping

25.5%

No. Will not change job because of year-end bonus

10.8%

In the survey, Zhaopin asked white-collar workers whether their year-end bonuses decreased in 2016, and, if so,  the reasons for the decline. The top three factors for the shrinking year-end bonuses were: poor company performance, just changed job/limited work experience, and the gloomy industry environment.

Factors impacting year-end bonus in 2016

Factor

Percentage

Poor company performance

26.3%

Just changed job/limited work experience

23.7%

Gloomy industry environment

23.6%

No decrease in 2016/always no bonus

21.6%

Harsh bosses

19.7%

Poor department performance

10.7%

Personal problems

6.0%

Others

12.3%

More than 40% of white-collar workers would use their year-end bonuses to show respect for their elders, and 36.5% would save them as deposits.

Use of 2016 year-end bonus by white-collar workers

Usage

Percentage

Give to elders

41.3%

Save as deposits

36.5%

Invest in wealth management

28.3%

Go shopping

26.0%

Repay loans

23.8%

Further education

22.3%

Vacations

19.6%

Attend trainings

16.6%

Personal health (workout, body care and beauty)

15.2%

Spend for children education

12.0%

Others

8.9%

About Zhaopin Limited

Zhaopin is a leading career platform in China, focusing on connecting users with relevant job opportunities throughout their career lifecycle. The Company's zhaopin.com website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended September 30, 2016, number of registered users as of September 30, 2016 and number of unique customers[3] for the three months ended September 30, 2016. The Company's over 125.2 million registered users include diverse and educated job seekers who are at various stages of their careers and are in demand by employers as a result of the general shortage of skilled and educated workers in China. In the fiscal year ended June 30, 2016, approximately 36.9 million job postings[4] were placed on Zhaopin's platform by 509,813 unique customers including multinational corporations, small and medium-sized enterprises and state-owned entities. The quality and quantity of Zhaopin's users and the resumes in the Company's database attract an increasing number of customers. This in turn leads to more users turning to Zhaopin as their primary recruitment and career- related services provider, creating strong network effects and significant entry barriers for potential competitors. For more information, please visit http://www.zhaopin.com.

Safe Harbor Statements

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Zhaopin may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Zhaopin's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Zhaopin's goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user and customer base for its online career platform; the growth of, and trends in, the markets for its services in China; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Zhaopin does not undertake any obligation to update such information, except as required under applicable law.

1Zhaopin's website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended September 30, 2016, the number of registered users as of September 30, 2016 and the number of unique customers for the three months ended September 30, 2016.

2The percentage total adds up to more than 100% because the survey question was a multiple choice in which respondents could select more than one answer.

3A "unique customer" refers to a customer that purchases the Company's online recruitment services during a specified period. Zhaopin makes adjustments for multiple purchases by the same customer to avoid double counting. Each customer is assigned a unique identification number in the Company's information management system. Affiliates and branches of a given customer may, under certain circumstances, be counted as separate unique customers.

4Zhaopin calculates the number of job postings by counting the number of newly placed job postings during each respective period. Job postings that were placed prior to a specified period - even if available during such period - are not counted as job postings for such period. Any particular job posting placed on the Company's website may include more than one job opening or position.

 For more information, please contact:

Zhaopin Limited 
Ms. Daisy Wang 
Investor Relations 
[email protected]

ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
[email protected]

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/zhaopin-no-year-end-bonus-for-over-50-of-chinese-white-collar-workers-in-2016-300390085.html

SOURCE Zhaopin Limited

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing be...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...