still1 Posted July 20, 2012 Share Posted July 20, 2012 After Lenovo posted extremely healthy financials back in May, it provided CEO Yang Yuanqing with a $3 million bonus for doing such a good job. There's nothing particularly notable about a CEO receiving performance-related bonuses, but what is unusual is how Yang spent the money. Rather than adding it to his multi-million dollar salary, Yang distributed the bonus among junior-level employees. Some 10,000 receptionists, production-line workers, and assistants received an average bonus of around $314 each. A recent Fair Labor Association report found that the average monthly wage in Chinese factories ranged from $354 - $450 (the minimum wage in Shenzhen is $220), so for some of the employees, the bonus may have been close to an entire month's wages. While he isn't quite a modern-day Robin Hood ? Yang earned around $14 million last year alone, making $3 million pretty insignificant ? it's good to see a CEO distributing at least some of his wealth. http://www.theverge.com/2012/7/20/3171590/lenovo-ceo-worker-3-million-bonus FiB3R, Pygmy_Hippo, FMH and 1 other 4 Share Link to comment Share on other sites More sharing options...
Chicane-UK Veteran Posted July 20, 2012 Veteran Share Posted July 20, 2012 Nice! Link to comment Share on other sites More sharing options...
StrikedOut Posted July 20, 2012 Share Posted July 20, 2012 If only all CEO's were like this. My companies owners would rather **** on you that give you something like this. ahhell 1 Share Link to comment Share on other sites More sharing options...
thealexweb Posted July 20, 2012 Share Posted July 20, 2012 With people like him running Lenovo it's a great company to be the No.1 PC maker. Aethec and oliver182 2 Share Link to comment Share on other sites More sharing options...
FMH Posted July 20, 2012 Share Posted July 20, 2012 Nice. This would really motivate the Lenovo workforce further. Link to comment Share on other sites More sharing options...
Praetor Posted July 20, 2012 Share Posted July 20, 2012 that's a CEO with vision; more a leader than a boss. Japlabot and oliver182 2 Share Link to comment Share on other sites More sharing options...
tsupersonic Posted July 20, 2012 Share Posted July 20, 2012 That's very nice of him! Other CEO's take note Link to comment Share on other sites More sharing options...
Glassed Silver Posted July 20, 2012 Share Posted July 20, 2012 That's what I'm talking about people! Great job, Lenovo! Glassed Silver:ios Link to comment Share on other sites More sharing options...
ahhell Posted July 20, 2012 Share Posted July 20, 2012 Good guy CEO. Link to comment Share on other sites More sharing options...
ShMaunder Posted July 20, 2012 Share Posted July 20, 2012 This guy and Lenovo need a lot of press attention. I'm sick of CEOs earning enough money to sustain 6 generations worth of grand kids over their lifetime and not sharing a penny. Life isn't about money. remixedcat 1 Share Link to comment Share on other sites More sharing options...
BajiRav Posted July 20, 2012 Share Posted July 20, 2012 Yang earned around $14 million last year alone, making $3 million pretty insignificant 20% of salary is not insignificant. :/ Link to comment Share on other sites More sharing options...
grik Posted July 20, 2012 Share Posted July 20, 2012 Most of them wouldnt do this, maybe its press attention, 3mn of nice personal marketing but then again its 20% of its salary witch is 1/5th of his paid work go to the staff. Link to comment Share on other sites More sharing options...
DeadEndAccount Posted July 20, 2012 Share Posted July 20, 2012 20% of salary is not insignificant. :/ And the fact that $14million is the total package and not the amount he earns 'each week' from his employer. Link to comment Share on other sites More sharing options...
SirEvan Posted July 20, 2012 Share Posted July 20, 2012 If only this had come out 2 weeks ago, I'd have gone and bought a Lenovo 17" G770 instead of a Dell Vostro 3750 Link to comment Share on other sites More sharing options...
HSoft Posted July 20, 2012 Share Posted July 20, 2012 This guy and Lenovo need a lot of press attention. I'm sick of CEOs earning enough money to sustain 6 generations worth of grand kids over their lifetime and not sharing a penny. Life isn't about money. It obviously is to you since you say your sick of hard working CEOs earning their money and want them to give you a bit. Sounds more like jelousy or greed than anything. Link to comment Share on other sites More sharing options...
BajiRav Posted July 20, 2012 Share Posted July 20, 2012 It obviously is to you since you say your sick of hard working CEOs earning their money and want them to give you a bit. Sounds more like jelousy or greed than anything. WTF? Aaron Olive, Glassed Silver and Aethec 3 Share Link to comment Share on other sites More sharing options...
ShMaunder Posted July 20, 2012 Share Posted July 20, 2012 It obviously is to you since you say your sick of hard working CEOs earning their money and want them to give you a bit. Sounds more like jelousy or greed than anything. Nope. I don't want anything more than being able to have a roof over my head, food/drink and some light entertainment. I also want tools to be able to contribute to society in a manner that I would be most beneficial in. I find money is an obstruction to discovering and contributing to society in ways I believe I'm good at - but I accept it because firstly, I live in a capitalist society and secondly, it motivates some people to work. In any case, its very nice to see junior production workers being given the opportunity to potentially proceed into new areas with this money (unless they're satisfied with their career as a production line worker). It gives them a helping hand to buying new tools that allow people to reach their full potential and therefore contribute to society in more positive ways. I'm grateful for having enough money so I'm able to contribute openly and freely to software development (something that I enjoy and feel I will be good at in the future) - my tools being the Internet and a laptop. If somebody gave me 100 grand, I would give it to somebody else unless I needed it for one of the previous things I mentioned. Aaron Olive and Glassed Silver 2 Share Link to comment Share on other sites More sharing options...
Growled Member Posted July 21, 2012 Member Share Posted July 21, 2012 Very nice of him. We need more CEO's like this. Link to comment Share on other sites More sharing options...
migo Posted July 21, 2012 Share Posted July 21, 2012 If only this had come out 2 weeks ago, I'd have gone and bought a Lenovo 17" G770 instead of a Dell Vostro 3750 Yeah. Hell, if I hadn't seen the Asus Taichi this would have almost cinched the Ideapad Yoga for me. Who knows, if the Yoga comes in at $300 cheaper and has discreet graphics I might go for it anyway. Link to comment Share on other sites More sharing options...
tiagosilva29 Posted July 21, 2012 Share Posted July 21, 2012 Good Guy CEO. Too bad that you can't buy these computers in this country. Link to comment Share on other sites More sharing options...
The Teej Posted July 21, 2012 Share Posted July 21, 2012 20% of salary is not insignificant. :/ Exactly. I think if any of us took a 20% cut in salary at any point we'd feel it. Technically, it's $3mil out of $17mil, due to the fact that it was a $3mil bonus (making it more 17% then 20%), but the point is he could have just gone out and spent it - but he didn't, he gave it back to the people that made him get that bonus. As a low-level employee, it's a good feeling when you've been financially rewarded for your hard work, and makes you work harder. So good on him :) Link to comment Share on other sites More sharing options...
BajiRav Posted July 21, 2012 Share Posted July 21, 2012 Exactly. I think if any of us took a 20% cut in salary at any point we'd feel it. Technically, it's $3mil out of $17mil, due to the fact that it was a $3mil bonus (making it more 17% then 20%), but the point is he could have just gone out and spent it - but he didn't, he gave it back to the people that made him get that bonus. As a low-level employee, it's a good feeling when you've been financially rewarded for your hard work, and makes you work harder. So good on him :) Yea, I think Bonuses should flow upwards the org chain and not downwards. Most workplaces the bar to get bonus gets lower as you go up the org chart. That is ridiculous. Link to comment Share on other sites More sharing options...
Praetor Posted July 23, 2012 Share Posted July 23, 2012 Good Guy CEO. Too bad that you can't buy these computers in this country. The heck... of course you can! My collegues have some Lenovos. And before you say "but you don't know what country i'm refering" let me just say i do know. Link to comment Share on other sites More sharing options...
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