ZHAOPIN LTD (ADR) BEIJING, Jan. 12, 2017 /PRNewswire/ -- Zhaopin Limited (NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career platform(1) 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 2016(2)
---------------------------------
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 2.43
(including HK, Macao and
Taiwan)
------------------------
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 10,574
/PR/certification/outsourcing)
------------------------------
Government/non-profit organizations 10,358
----------------------------------- ------
Services(healthcare/nursing/beauty/hotel/restaurant/tourism 10,237
/vacation)
----------
Trade/wholesale/retail/leasing/fast-moving consumer goods 9,067
/durable consumer goods
-----------------------
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 11,971
(including HK, Macao and Taiwan)
---------------------------- ----------------------------
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 25.5%
for job hopping
---------------
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.
(1)Zhaopin'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.
(2)The 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.
(3)A "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
ir@zhaopin.com.cn
ICR Beijing
Mr. Edmond Lococo
Phone: +86 10 6583-7510
Edmond.Lococo@icrinc.com
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SOURCE Zhaopin Limited
