Two highlights are the pharmaceutical and media industries, where the rate of change in variable pay has increased. This shows that due to production of epidemic prevention materials and epidemic reports, overtime pay and special allowances in both industries have increased.
The sudden epidemic made the Chinese people have a special Spring Festival. It's not just our way of life that changes. Holidays are prolonged, economic activities press the "pause button", and some employees are more concerned about unit pay.
The National Human Resources and Social Security Department has issued a number of guiding opinions on the prolonged holidays caused by the need for epidemic prevention and control and the suspension of production and work by employees, and there are several guidelines, such as supporting the negotiation of wages during non-return periods; priority consideration Arrange annual vacations for employees; pay a wage period according to labor contract standards; pay living expenses in accordance with relevant regulations if the pay period exceeds one.
Of course, this is just a guide, and specific companies and industries will flexibly adjust according to the actual situation of the company and the market.
The salary analysis platform Salary Report released by the salary analysis platform Earlier in March showed that some companies have relatively large fluctuations in performance compensation, overtime pay, and instant incentive compensation, but the fixed compensation component has relatively small changes. Even the pharmaceutical and media industries have generally worked overtime during the epidemic, with both variable and fixed pay increasing.
The report counts nearly 1,500 companies in various industries, of which first-tier cities account for 50%, second-tier cities account for 30%, and third-tier cities and below account for 20%. The data is based on the February salary paid in early March as the complete payment cycle. This period is also the month most affected by extended holidays and returning to work.
Judging from the data on the actual rate of change in pay in various industries, variable pay in the manufacturing, education, and financial industries is almost cut. Among them, the variable salary of the manufacturing industry decreased by 72.26%, the financial industry decreased by 63.78%, and the education industry decreased by 59.84%.
Due to the support of e-commerce channels in the consumer goods industry, the data is not ugly, and the variable salary has decreased by 38.21%, but the offline channels are almost zero based on the breakdown of the data, and the huge inventory accumulated during the Spring Festival will increase the pressure on offline store cash flow. The distribution of variable pay in the coming months is still not optimistic.
Two highlights are the pharmaceutical and media industries, where the rate of change in variable pay has risen. This shows that due to production of epidemic prevention materials and epidemic reports, overtime pay and special allowances in both industries have increased.
The variable pay mainly includes performance pay, overtime pay, various real-time incentive pay, etc. The actual change pay in various industries in February 2020 is compared with the previous three months (November, December 2019, January 2020). The rate of change in the average value of actual changes in pay.
Obviously, the effect of variable pay is relatively large, but the actual pay (mainly fixed and basic pay) in various industries is relatively small.
In terms of monthly paid salaries, the most affected industries are manufacturing and education (training), which declined by 23.83% and 22.09%, respectively, followed by consumer goods, finance and real estate, pharmaceuticals and media due to their special role during the epidemic. Slight increase, 8.64% and 6.51%.
At present, the biggest impact of the epidemic on employee compensation is the variable compensation component, and the impact of fixed pay is relatively small. There may be two reasons for this: First, it is cumbersome to adjust the fixed salary procedure, which may easily trigger labor disputes. Second, many companies are still waiting to see. In the context of human resources being the core competitiveness, many companies dare not use salary reductions easily. This is a last resort to alleviate difficulties.
Under the influence of the epidemic, how will various industries adjust their human resource budgets?
The report shows that the financial industry is more cautious. Most companies recruit and train with the idea of downward adjustment but have not implemented it. They are in a wait-and-see state. While the salary budget has indeed been reduced, the welfare budget has been raised. In addition to the training budget, the real estate industry is expected to rise In addition, others have begun to reduce their operations; the Internet industry has reduced its recruitment budget because of the "epidemic", but the salary has remained unchanged, and training and benefits have begun to rise; the pharmaceutical industry and the media industry are positive, and companies are optimistic; consumer products The manufacturing, education, and education industries are relatively affected, and the following keynotes are the main tone.
Stabilizing employment and wages requires companies and employees to overcome the difficulties together. I believe the difficulties will soon pass. From the experience of the SARS epidemic in 2003, after the epidemic subsided, the financial industry would soon return to normal; the manufacturing industry would increase overtime due to supplementary production capacity, and the actual salary would usher in a "retaliatory" rebound; the real estate that had the greatest impact should be It will take almost a year for the industry to return to normal levels; the pharmaceutical industry will be welcomed by the capital market for a longer period of time, and it has more confidence in talent competition.
Author: know a