Hong Kong Broadband Network Ltd. (HKBN), the second-largest broadband Internet provider in Hong Kong, has created a stir among human resources professionals by offering an unusual holiday facility for its staff.
The company said on Sunday that it will not only offer its employees an average pay hike of 5 percent for 2015, but will also allow staff to buy extra leave days using their annual bonus, Sky Post reported.
The internet service provider announced a performance-based bonus, which on average amounted to at least 2 months’ salary, to some qualified employees, along with the annual pay hike.
But what was unusual was that HKBN declared that those entitled to the bonus can either opt to take cash or use some of it to avail extra leave. If anyone wants more holidays, he or she can buy up to 10 extra leave days a year by giving up one-day pay for every two days of leave.
Human resources consultants believe the so-called “leave of bonus” will help motivate employees, and that in some cases may even be more effective than cash bonus in retaining staff.
Alexa Chow, managing director of AMAC Human Resources Consultants, said it was the first time as far as she knew that employees could buy leave with their pay, although it has been common for salespeople in real estate and telecoms industries to receive extra leave if they achieved sales goals.
She pointed out that the new generation of workers is no longer eyeing money only, and that it deems work-life balance more important.
Alison Chang, managing director of Core Search, also said “leave of bonus” not only represents another incentive option for employees for their performance, but can also help employers to cut costs while ensuring improved staff performance.
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