Insurance workers year-end bonus review: Most flat or even down, quit the way out?

2022-05-03 0 By

A week from now is the Lunar New Year, whether there is a year-end bonus, how much year-end bonus, has become one of the biggest concerns of every migrant worker, insurance workers are certainly no exception.On January 25, reporters of Beijing Business Daily found that some insurance companies have paid year-end bonuses or will pay out, but a small number of insurance company employees said they do not know whether year-end bonuses are available.The annual bonus can be a barometer of the company’s operating conditions, and a reasonable annual bonus can also reflect the company’s complete incentive system.For insurance workers, whether or not they get a year-end bonus and how much they get will not only affect their enthusiasm for work, but also make them decide whether to job-hopping.It can be seen that the year-end bonus of different insurance workers is not small, some happy and some sad.So, how is the annual bonus calculated?What kind of annual bonus is reasonable?The Corporate Governance Standards for Banking and Insurance Institutions issued by THE CBRC in June 2021 clearly points out that banking and insurance institutions can establish market-oriented medium – and long-term incentive mechanisms and constantly optimize their compensation structure in accordance with relevant national regulations.Banks and insurance institutions will be encouraged to explore various non-material incentives in accordance with the law.At the same time, the Corporate Governance Standards for Banking and Insurance Institutions require banking and insurance institutions to establish a performance appraisal mechanism in accordance with the principle of taking both benefits and risks into account and paying equal attention to long-term and short-term incentives, and require scientific and complete indicators and clear and standardized processes.The basis of year-end bonus distribution varies from company to company, and state-owned (holding) companies are generally conservative, Li said.Companies that are able to give out large year-end bonuses take into account company, department and individual performance.In the process of specific practice, how to determine the year-end bonus?A related person in charge of a life insurance branch told Beijing Business Daily that the year-end bonus of their branch is not a “big pot meal” based on the average head, and the year-end bonus of the field post is calculated according to the performance of the department and the performance of the individual.Employees who can complete performance appraisal will receive 0.8% of their performance as year-end bonus;If the performance is not completed, a year-end bonus of 0.6% of the completed performance will be paid.When it comes to the amount of year-end bonus, the person in charge said that a small number of grass-roots employees received year-end bonus of tens of thousands of yuan, and the situation of annual bonus of less than 10,000 yuan can be found everywhere.(Chen Tingting, Li Xiumei, Beijing Business Daily