Compensation and Benefits

Industries covered by the Labor Standards Law must meet or exceed the compensation requirements stated therein. Though not mandated, more than 90 percent of companies give a fixed year-end bonus of one- to two-months' pay. Performance-based reward systems are increasingly offered and are used as an incentive to stay with a company. Stock purchasing plans and profit-sharing are also becoming increasingly popular, especially in high-tech and newly emerging industries. Moreover, most companies provide health, automobile and accident insurance as part of government-sponsored and group insurance plans for their employees. Employment packages for executives are more commonly offering incentive subsidies such as club memberships and low-interest car loans.

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