I really hope this sets an example for other CEOs and executives. It is not just about the money but about the gesture that says a lot about how much a company really cares about its employees.
Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
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Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#12Equates to about $314, or a month's pay per employee by reported estimates.
China-based workers make about one third of their U.S. equivalents in those job categories -- so that'd be more like a 1K bonus stateside. Quite substantial.
[1] Source for e.g. receptionists: http://www.worldsalaries.org/hotelreceptionist.shtml
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#13Silly publicity stunt and unbecoming of the principles of the free market. He could have created a lot more value by investing the money in a high-powered startup; not passing handouts to janitors and secretaries.
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#14[deleted]
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#15Silly publicity stunt and unbecoming of the principles of the free market. He could have created a lot more value by investing the money in a high-powered startup; not passing handouts to janitors and secretaries.
He has already done that by motivating his employee :)
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#16Silly publicity stunt and unbecoming of the principles of the free market. He could have created a lot more value by investing the money in a high-powered startup; not passing handouts to janitors and secretaries.
Ugh, enough with the "free market". Are you familiar with the terms human capital? Social capital? Your perspective seems to suggest that any extra profit not invested in mergers and acquisitions is money wasted, but the fact of the matter is that moves like these are a sound investment and signals a commitment to building human capital.
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#17It'd be nice -- though it ain't never gonna happen -- if C-level types were not coerced (heavens!), but just expected to tip all of their below-median workers some nominal percentage (like say 15-20 percent) of their annual bonus.
For, you know, making it physically possible for them to earn that bonus in the first place.
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#18This is great, but this statement from the author is a pretty terrible assumption:
"It's nice to see an executive giving away a huge chunk of money to the employees that had as much to do with Lenovo's successful year as any executive within the company"
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#19Silly publicity stunt and unbecoming of the principles of the free market. He could have created a lot more value by investing the money in a high-powered startup; not passing handouts to janitors and secretaries.
If you're so sure the 'value' being created here is so low why not quantify it? I don't see how you can declare 'he could have created a lot more value' when it seems to me the value here (the morale boost to the company, the goodwill engendered, etc) is somewhat unquantifiable.
Re: Lenovo CEO Gives His $3 Million Bonus to 10,000 Employees
#20Equates to about $314, or a month's pay per employee by reported estimates.
Definitely not bad -- I can also really appreciate an even split to all employees -- I know some might view it as unfair that someone who just started might get the same bonus as a long term employee, but for just a windfall, I think it was a good idea to keep it all even.
Agree. It surely would also cost a lot of time (and therefore, money) to determine a 'correct' uneven distribution.