BYD employees received a "big gift package"

Author | Wang Xiaojuan

Editor | Zhou Zhiyu

Recently, if we talk about which company's employees are most envied, it has to be BYD.

These days, many people have been sharing photos of their profit bonuses from BYD on social media. Some employees have said, "I like companies like BYD, they just directly deposit money without any notification."

BYD does not have year-end bonuses, so the profit bonus from BYD is equivalent to the year-end bonus in other companies. The distribution of profit bonuses is the most anticipated day for employees throughout the year, motivating their fighting spirit.

This profit bonus is usually credited around September every year, so many employees start checking various department notifications on social media from August.

This year marks the sixth year that BYD has been distributing profit bonuses to employees, and as BYD earns more, the profit bonuses for employees have become more generous. Some employees received 33,000 yuan last year, which increased to 129,800 yuan this year; many new graduates also estimated based on last year's distribution rules, and the final amount received was higher than expected.

According to employees, the profit bonus at BYD is divided based on departments, job levels, and performance. The amount of profit bonus received by everyone ranges from tens of thousands to over a hundred thousand yuan; the notification process also varies depending on the department.

The level of profit bonus mainly depends on job levels.

Internally at BYD, employees are divided into nine job levels from A-I, with each level further divided into three sub-levels. A-G are management and technical positions, while H and I are production line workers. The distribution of profit bonuses starts from G-level employees, with a total of 12 sub-levels from G1 to D3, with profit bonuses ranging from 0.85 to 21 shares, while higher levels remain confidential.

The main reason for such generous distribution of profit bonuses is that BYD is making money.

According to the financial report released at the end of last month, BYD has become the most profitable listed car company in China. In the first half of the year, BYD achieved revenue of 301.127 billion yuan, a year-on-year increase of 15.76%; net profit was 13.631 billion yuan, a year-on-year increase of 24.44%.

With such profits, on average, BYD makes over 700 million yuan in net profit every day.

This strong earning ability is supported by scale. In the first eight months of this year, BYD sold 2.3284 million vehicles, a year-on-year increase of 29.92%; as early as last year, BYD became the top-selling manufacturer in China and entered the top ten in global sales. This year, it is expected to further improve on this basis.

In the past, people often compared BYD with other brands based on per-vehicle profits.

In recent years, with the growth in scale, BYD's costs have continued to decline, leading to a rapid increase in per-vehicle profits. In the first half of this year, BYD's per-vehicle profit increased to 8,500 yuan, and with further scale growth, there is still room for this profit to increase.

Currently, for BYD, how to manage employees and how to determine employee benefits are more critical issues than before, after all, the number of BYD employees is increasing.

Some time ago, Li Yunfei, the General Manager of BYD Group's Brand and Public Relations Department, mentioned on social media that Ms. Wang Zhen, the General Manager of the Group's Human Resources Department, showed him the total information board of BYD Group employees, which has exceeded 900,000 employees How to make 900,000 people operate more efficiently is inevitably a difficult problem.

Before rapid expansion, BYD emphasized a family culture.

Large factories are often located in the suburbs like an island, where employees' food, clothing, housing, and transportation are all within the factory area. After working for a long time, employees can purchase BYD cars at internal prices, buy houses in BYD New Village at internal prices, and send their children to schools within the BYD factory area.

In the past two years, as BYD has grown rapidly, market competition has become more intense. A competitive culture has become the first label of BYD, with racing mechanisms between different internal groups and the initiation of elimination of the last place. Indeed, "more horses are needed for horse racing," and competition has become one of the reasons for the rapid growth of BYD employees.

Among BYD's current 900,000 employees, two-thirds have joined BYD in the past three years. Many people who join BYD are attracted by the current growth of BYD, and this growth naturally needs to be reflected in employee compensation.

Furthermore, since the beginning of this year, BYD has placed greater emphasis on growth in overseas markets. Since growth is needed, more competitive salary and benefits are also required.

On social media, many people who share their experiences of BYD campus recruitment have been asked if they are willing to work at overseas bases.

As BYD expands into more markets, the workforce faces greater challenges, which involve different logics and paths from the domestic market. Currently, BYD's factory in Rayong, Thailand, has been put into operation. This is one of the most important bases for BYD's overseas expansion. BYD plans to develop it into a demonstration base to cultivate more people here and then transfer them to other bases.

In Thailand, the work concept of workers is significantly different from that in China. Wang Chuanfu once answered Buffett that the secret to his success is "We'll never, never rest." However, in Thailand, where the consumption level is relatively low, people are less willing to work overtime, and the expansion speed cannot keep up with that in China.

BYD also plans to enter Europe, where labor laws are relatively strict, and people work shorter hours compared to those in China. Moreover, both workers and engineers are no longer cheap, and BYD's previous strategy of quantity over quality faces challenges. Therefore, BYD needs to recruit excellent talents with higher salaries and improve the efficiency of the overseas market to gain greater competitiveness in going global.

Although BYD has firmly held the top spot in the Chinese market, it will take some time to become a global giant. On this path, BYD still needs to learn organizational capabilities from global car companies, better manage employees, and provide labor rewards that can motivate employees