Free Web NovelChapter 57: Chapter 57: Perfecting the Structure
Once the discussion about the feed was concluded.
Jiang Miao put down the financial report and looked up at Lü Weibin. "Old Lü, find some time in the next few days to talk to the Nanhu Village Committee. See if they have a large plot of unused sloped land, and rent a hundred mu of it. If not, check with the other nearby villages." fгeewebnovёl.com
"No problem. I’ll talk to Village Chief Ke tomorrow." Although Lü Weibin didn’t know what his boss wanted the sloped land for, he knew he must have a good reason.
"Also, contact the company that built our farm’s greenhouses before. Set up a meeting with them to discuss a hundred-mu mushroom greenhouse. I want the smart kind, the ones with controllable temperature, humidity, and light."
Hearing this, Lü Weibin had already guessed what the hundred mu of sloped land would be used for, but he still felt the need to offer a reminder:
"Boss, when we were building the solar greenhouses, that company gave us a quote for something similar. For this type of fully automated smart greenhouse with a steel frame, the price they quoted was 120,000 yuan per mu."
Jiang Miao was, of course, aware of the quote. He thought for a moment before adding, "I know. Oh, and when you’re negotiating, have them add an automated disinfection system. Each greenhouse needs to be equipped with an automated disinfection chamber and a changing room for putting on protective suits and helmets. Also, the structure needs to be reinforced to withstand a level-17 typhoon."
Lü Weibin jotted these points down in his notebook. "I’ll make sure to convey your requirements to them, Boss."
If they were just ordinary solar greenhouses, Jiang Miao wouldn’t have specifically requested typhoon-proofing.
But the smart greenhouses were much more expensive. If a typhoon destroyed them, the losses would be immense.
Next, Jiang Miao brought up another important matter concerning the company’s development. "The company is growing and changing every day. Some of our old management policies need to be updated to keep pace."
Upon hearing this, everyone immediately sat up straight, listening quietly for what was to come. After all, this concerned their future.
"As you all know, the company’s Employee Level system is divided into 5 major levels and 20 minor sub-levels. So far, we’ve only established the salary and benefits for D Level. Now, I will briefly outline the compensation for the other levels, as well as the specific promotion methods."
At the side, Li Zixuan quickly turned on the projector. The employee level divisions and their corresponding compensation packages appeared on the screen.
D Level: D1 base salary 3,500 yuan, D2—4,500, D3—5,500, D4—6,500.
C Level: C1—8,500, C2—10,500, C3—12,500, C4—14,500.
B Level: B1—18,500, B2—22,500, B3—26,500, B4—30,500.
A Level: A1—38,500, A2—46,500, A3—54,500, A4—62,500.
S Level: S1—78,500, S2—94,500, S3—110,500, S4—126,500.
"...This is the company’s employee level compensation structure. In addition, performance bonuses and the ’five insurances and one housing fund’ are also tied to an employee’s base salary."
Jiang Miao paused and took a sip of tea. "Regarding the housing provident fund, the company does not intend to follow the model of most corporations. Instead, the company will commission a separate real estate company to develop properties. These will then be sold to employees according to certain criteria. Each month, employees will make payments to the real estate company, and the amount of this payment will be your housing fund contribution. Your contribution rate will be 12% of your base salary."
’A 12% contribution rate? That’s not bad...’
’But if they’re commissioning a real estate company to build the apartments, the price should be a little cheaper, right?’
Jiang Miao nodded. "Yes. This is essentially employee-benefit housing. To reduce everyone’s burden, the company also plans to launch a seniority plan."
"A seniority plan?" Li Zhou didn’t quite understand.
"Boss, what’s a seniority plan?" Li Wenna asked curiously.
Jiang Miao then gave everyone a brief explanation. "The seniority plan subsidizes the employee’s personal contribution to the housing fund, based on their years of service."
As someone with a legal background, Jiang Haibo understood immediately, but he didn’t speak, waiting for his boss to continue.
Jiang Miao continued, "According to the law, the personal and company contribution rates for the housing fund are the same. If you choose 12% of your base salary, it means you contribute 12%, and the company also contributes 12%. The total is deposited into your personal housing fund account."
"The seniority plan is a supplement to this. The company intends to use two years of service as the benchmark. For every additional two years of service, the employee’s personal contribution rate will decrease by 1%, and the company’s contribution rate will increase by 1%. This is the company’s way of subsidizing its employees."
He then added, "There are a few other points to note. Before the loan is fully paid off, the property cannot be used for a second mortgage or be sold. It can only be for personal residence or for renting out."
"If an employee leaves the company before paying off the loan, they must assume full responsibility for the remaining balance. If an employee is unable to make payments or wishes to sell the property, the company can take it over. The transfer price will be the total amount you have already contributed to your housing fund."
Hearing this, the group understood that this was to prevent property rights and loan disputes if someone were to resign. At the same time, it was also a way to retain employees.
But it was perfectly understandable.
After all, Hailufeng Company’s personal housing fund contribution rate was the maximum of 12%. Ordinary companies usually offered 8%, some only 5%, and some didn’t even have a housing fund at all.
In addition, everyone seemed to have an inkling of the boss’s underlying intentions.
This so-called "commissioning a real estate company" was probably just a left-hand-to-right-hand transaction.
Jiang Miao would likely establish a real estate company himself and then use that company to accept the commission from Hailufeng Company.
The advantage of doing this was that he could minimize intermediate costs and also bypass the market guidance prices set by the housing authority.
This was because Jiang Miao planned to give his employees a down payment benefit.
This down payment could be paid by Hailufeng Company to the real estate company on behalf of the employee, disguised as a bonus.
On the surface, the property price would seem to be close to the market rate, but in reality, it was like getting it without a down payment.
Of course, to prevent employees from resigning just to cash in on the company-sponsored down payment, this benefit would be tied to the employee’s level and years of service.
The higher an employee’s level and the longer their tenure, the less likely they would be to resign just for the down payment.
What’s more, the down payment benefit Jiang Miao had designed could be paid in installments rather than all at once, with a certain percentage given out each year.
This way, the longer one worked at the company, the more advantageous it became.
It was equivalent to getting an apartment by only paying a small amount of money each month.
After finishing the topic of the housing fund, Jiang Miao moved on to employee promotions. "Regarding promotions, I’ve temporarily decided on two tracks: seniority-based promotion and performance-based promotion."
"Seniority-based promotion is very simple. At D Level, you’re automatically promoted one sub-level every five years. At C Level, it’s every ten years. At B Level, it’s every twenty years."
As for why he didn’t mention seniority-based promotions for A and S Levels, it was because there was no need for such a system at those ranks.
After all, a person’s life is finite.
For example, if an employee joins the company at 20 and chooses to work their way up steadily, after 20 years, they could reach D4. After 40 years, they could reach C4.
The problem was, how could an employee possibly work for the same company for 60 years?
Even if the retirement age were to be delayed further in the future, one could work until 70 at the most. That’s only a 50-year career, making it impossible to reach the C4 level.
The reason a seniority-based promotion was still established for B Level was mainly to account for employees who started at a higher rank.
For example, technicians started at D3.
Lower-to-mid-level managers also started at D3, and some even came in directly at C1 or C2.
This meant they had to consider that some mediocre managers might be unable to get promoted based on performance for a long time and could only advance by waiting out their seniority. If such a person could work at the company for 50 years, it was possible for them to reach the B1 level.
"As for performance-based promotions, I will discuss this with each department separately to formulate a reasonable promotion plan."
Taking another sip of tea, Jiang Miao finally arrived at the last topic of the day. "I’m sure you all know that our company is a sole proprietorship. Therefore, to incentivize all employees, I plan to set up a virtual stock bonus pool."
"I will set aside 5% of the company’s equity to create a virtual stock bonus pool for the next two years. At the end of the year, after the gross profit is calculated, 5% of that profit will be allocated as the bonus. This bonus will then be distributed among all employees according to their virtual stock holdings."
CLAP CLAP CLAP... The crowd immediately broke into excited applause.
This was a tangible benefit.
The company’s gross profit last year had already reached over sixty million yuan. This year’s would certainly be higher, meaning 5% would be at least several million.
Jiang Miao added, "In the future, the equity percentage allocated to the virtual stock bonus pool will be adjusted in line with the company’s growth."
This was an inevitable choice.
After all, the company’s scale was constantly expanding, and the number of employees was always increasing. At the same time, profits fluctuated. It was only natural that the equity percentage of the virtual stock pool would need to be adjusted from time to time.
