Source: Network
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A few days ago, some netizens broke the news that Country Garden's year-end award plan was revealed.
According to the practice of Country Garden in previous years, 20% of the performance awards will be set aside every month to be issued at the end of the year as a year-end bonus.
However, according to Country Garden's year-end bonus plan in 2022, 90% will be paid to ordinary employees, 80% will be paid above the manager level, and 70% will be paid above the project level.
The equivalent of the year-end bonus is not only gone, but even the performance awards reserved in the usual time must be discounted.
According to this year-end award plan, many people's year-end awards may be broken, and even the year-end awards are not, no wonder Country Garden employees have complained.
Although the overall performance of the real estate industry this year is not ideal, Country Garden, as the head developer, has sales of more than 700 billion yuan, which is the sales king in 2021.
The reason why Country Garden can achieve this result is inseparable from the efforts of all the employees of Country Garden, and it is precisely because of the efforts of these employees that Country Garden can stand out in the cold winter of the property market.
According to Country Garden's sales in 2021, it is expected that the profit should not be in the minority, according to the practice of previous years, it should be possible to issue a lot of year-end bonuses, but this year's year-end awards have been discounted, so some employees are definitely dissatisfied.
However, from the perspective of Country Garden's senior management to look at the problem, they are actually forced to discount the year-end bonus, after all, the current overall property market is not very prosperous, everyone is saving money, and certainly cannot spend as lavishly as in the past.
Although Country Garden's sales are very large, its sales growth rate is declining, and in 2021, Country Garden's sales fell from 788.81 billion to 758.82 billion, down 3.8%.
More critically, Country Garden's debt is not low at present, as of the end of 2021, Country Garden's total debt will exceed 1.7 trillion yuan, and this debt will not decline is always a potential risk.
So we see that country garden has been trying to reduce debt in the past year, although it has achieved positive results, but 1.7 trillion yuan of debt is placed there, and you always have to suppress it to ensure stable development.
After all, compared with other state-owned developers, Country Garden's current debt ratio is relatively high.
At present, the mainland property market has come to an inflection point, what direction the future property market will develop, no one knows, if the financing environment of the real estate industry is further tightened in the future, it is a challenge for major developers.
Therefore, in order to cope with some uncertainties in the future, the main task of developers at present is to reduce debt, reduce leverage, and enrich cash flow, so as to cope with changes with no change.
And to achieve this goal, on the one hand, we must try to sell more real estate and return funds as soon as possible, on the other hand, we must reduce food and clothing, reduce some unnecessary expenses, and the previous huge year-end bonuses must not continue to be implemented.
At present, it is not only Country Garden that is compressing the year-end bonus, but also the major developers across the country who are doing so.
In 2022, the year-end awards of major developers are not very optimistic, except for those state-owned developers whose performance is growing faster, private developers are basically compressing year-end awards, or even no year-end awards.
For example, there have been real estate self-media surveys of real estate practitioners before.
According to the survey data, among the nearly 1,000 real estate practitioners participating in the survey, 42.73% of them clearly stated that the company did not issue year-end bonuses this year; in addition, 27.55% of them chose "do not know whether to issue year-end awards".
This means that only about 30% of the year-end awards can be determined this year, and even if the year-end awards can be issued, the year-end awards will shrink a lot more than last year, and only 14% of the people who will have higher year-end awards this year will be higher than last year, and 30% of the people will have less than half of last year's year-end awards.
Compared with other developers who do not have year-end bonuses at all, Country Garden employees can get some year-end bonuses, which is already a relatively good result.
To know that in 2021, there are many real estate practitioners who can only take the basic salary, and even many people are laid off, for these people, don't say that the year-end bonus does not even have a basic salary, who are they looking for to shout injustice?
And even for those who have sales performance, their commissions have changed a lot from before, both in terms of the proportion of commissions and the way they are distributed.
For example, some developers used to be customers after signing a contract, the salesman can directly get the commission, but now according to the signing of the contract to get 30%, pay back 40%, at the end of the year 20%, delivery of 10% of the way to issue.
So for real estate practitioners, don't expect too much, this year to get the year-end award is already the best result, not to be laid off should feel lucky.
In 2022, with the relaxation of policies, the sale of land picks up, the market is slowly returning to normal, how many W's will your year-end bonus target this year?