Vankes salary adjustment highlights performance, and the base salary of employees decreases by 40percent

category:Finance
 Vankes salary adjustment highlights performance, and the base salary of employees decreases by 40percent


Vanke started the rank adjustment at the end of last year, and began to implement it in various regions in September this year, mainly reducing the basic salary a lot, and putting this into performance. A person familiar with the matter told reporters.

For example, the salary structure of a senior manager of Vanke used to be base salary of 14400, performance salary of 3600, and now base salary of 7600. The reduced base salary becomes performance.

By this calculation, the base salary of the senior manager will be reduced by more than 40%.

Vanke accrues 3 billion yuan of inventory falling price reserves: adjustment of real estate market in some cities

A Vanke employee said that since last year, Vanke has put forward a salary adjustment plan, which is called one year together, that is, the salary is determined according to the individual contribution of the employee every year, and the salary is no longer fixed due to the fixed position or position. For example, two colleagues in the same position may get different money because of different working conditions and contributions. From last years adjustment, some peoples income slightly increased, while others declined, which means more performance-oriented.

Although a lot of the reduced part is put into performance, the industry is in a downward trend at present, and the actual performance salary is not optimistic. Many of Vankes employees think its a disguised form of layoff, and we will be more active in helping Vankes employees to change jobs. A real estate headhunter told reporters.

For example, the salary of Vankes senior manager is about 18000-20000 per month according to the previous standard, while that of Longhus senior manager of the same level is 35000-38000 per month, and that of sunshine citys senior manager is 31000-35000 per month. In addition, the year-end bonus of Longhu and Yangguang city is also higher than that of Vanke. Said the headhunter.

In addition, behind Vankes pay cut, the quiet staff adjustment is also continuing. Vanke has reduced its staff in finance, general office and human resources, while the business departments such as marketing have remained stable, mainly in order to save human costs. Said the people familiar with the matter.

In the context of industry downturn, no matter the leading real estate enterprises or the second and third tier enterprises, they feel pressure without exception. In order to avoid the company falling into operational risk, the reduction of employees and salary of real estate enterprises is not new in the industry.

As far as Vanke is concerned, this year, it also encountered the impact of market downturn on the companys decentralization. According to Kerui data, Vankes full caliber sales from January to October 2019 were 519.9 billion, an increase of 7.1% year on year, and the growth rate of the top 10 real estate enterprises was only higher than that of Greenland holdings. In addition, the sales of Vanke in October 2019 was 44.29 billion, down 10.1% year-on-year. It is one of the top 10 real estate enterprises with few sales declines, only second to CNOOC real estate. According to the third quarter report of Vanke, in view of the adjustment of the real estate market in some cities, Vanke has withdrawn inventory falling price reserves for individual projects with risks. As of the end of September, the balance of inventory depreciation reserves of Vanke was RMB 3.06 billion. During the reporting period, Vanke accrued inventory depreciation reserves of 1.14 billion yuan, affecting the net profit attributable to shareholders of the listed company of 780 million yuan. Source: the first financial editor: Liu Songpeng nbj9949

As far as Vanke is concerned, this year, it also encountered the impact of market downturn on the companys decentralization. According to Kerui data, Vankes full caliber sales from January to October 2019 were 519.9 billion, an increase of 7.1% year on year, and the growth rate of the top 10 real estate enterprises was only higher than that of Greenland holdings. In addition, the sales of Vanke in October 2019 was 44.29 billion, down 10.1% year-on-year. It is one of the top 10 real estate enterprises with few sales declines, only second to CNOOC real estate.