Friday, April 24, 2009
Compensation Package
I was being retrenched by our company on 31st March 2009 now serving a 3 months notice till 30th June 2009 before we'll be entitled to the Severance Package compensation.
The Big Boss decided to close down Singapore Charting Department & moved to Zurich.
Only 4 of our Elite colleagues were taken by Zurich Head Office.
Others who had applied were actually rejected.
Now we've been working closely with HR Dept regarding our compensation.
The Management are smart to use measuring of our PI (Productivity) & QI (Quality) making up majority of the % to pay us on the amount of compensation to each individual staff.
Only one factor which i feels that is very unfair & not gracious of our company.
That is the Seniority Compensation.
Normally most companies in Singapore would reward their staffs who work 5 years & above with awards or cash vouchers for their service.
This company not only do not have such practice, now that we're being retrenched they do not show much appreciation to those of us who had put in so many years of our youth & effort.
Also most companies would pay their staff 1 year = 1 month salary.
But i'm kind of disappointed that such a big MNC company are actually so miser when it comes to compensating their staff & awarding them for their long service.
They keep emphasizing treating everyone fair & just giving them satisfying amount of compensations.
Budget Budget Budget etc.....
Imagine they are only paying 10% of our salary for each year service ONLY!!!
How miserable & pathetic right???
We're actually appealing & negotiating with our HR.
But the answers we get were all very negative.
It seems they are not willing to do reward & appreciate us for our years of service.
Sigh~~~ i believe all of you are thinking which Big MNC company is that right?
Hahaha those who know me will know the answer.
So better beware of this company.
Management will always have tons of excuses to squeeze everything out of their staffs.
^ Gerald ^
`[4/24/2009 11:08:00 PM]
