What unusual incentive is Zhejiang Guosheng offering employees?

Zhejiang Guosheng is offering free apartments to employees who commit to staying with the company for at least five years.

How many apartments has Zhejiang Guosheng purchased for its retention plan?

The company has purchased 18 residential flats, investing over 10 million yuan in total for this employee incentive program.

What is the main goal of Zhejiang Guosheng's apartment incentive program?

The primary goal is to attract exceptional talent and retain their core management team by rewarding long-term commitment.

Home / Business and Economy / Stay 5 Years, Get an Apartment: Chinese Company's Plan

Stay 5 Years, Get an Apartment: Chinese Company's Plan

21 Dec

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Summary

Company offers free apartments to employees staying for five years.
Zhejiang Guosheng purchased 18 flats costing over 10 million yuan.
Employees receiving flats must commit to another five years.

Stay 5 Years, Get an Apartment: Chinese Company's Plan

A Chinese auto components company has introduced a novel strategy to enhance employee loyalty and retention. Zhejiang Guosheng Automobile Co Ltd is offering fully furnished apartments as an incentive for its workforce.

This initiative involves purchasing residential properties near the company's facilities, with a significant investment exceeding 10 million yuan made approximately two years ago when property values were lower. Currently, the company employs around 450 individuals and plans to allocate a total of 18 apartments over three years.

Employees who complete a five-year tenure with the company become eligible for an apartment, under the condition that they agree to remain employed for an additional five years. This forward-thinking approach seeks to reward dedicated professionals and secure the company's core management team for the future.