What would most CEOs do if they were granted extra $3 million on top of their multimillion dollar salaries? Chances are that they will spend the money on themselves while their employees keep wishing for a bonus. Well, it looks like it’s a little different at Lenovo.
According to Bloomberg, Yang Yuanqing, CEO of Lenovo, is sharing his $3.25 million bonus with his 10,000 employees around the world, and when you divide the amount, each employee will receive a windfall of about $325. While this may not be much to those of us in the U.S. and Canada, for those in China (and other developing nations) it’s more than their monthly salary. Remember, Foxconn reportedly only pays its workers about $243.97 per month.
To top it off, the bonus will go to those in manufacturing section who normally don’t receive bonuses or sales commission.
“He believes that he has the responsibility as an owner of the company, and the opportunity as our leader, to ensure all of our employees understand the impact they have on building Lenovo” says Lenovo’s Senior Vice President of Human Resources, Gina Qiao, and that’s why he “personally funded” the employees.
It certainly sets a good example to other CEOs, and perhaps this is something that all other companies can “copy” from Lenovo — they won’t have to worry about patent issues either, unless Apple tries to trademark this too.