China Company News: Employees got a ‘lottery’, now they will get a house along with the job

• Good news from Zhejiang Guosheng Automotive Technology
• 18 Flats will be given to oldest and most loyal employees
• The main objective is to retain the core management team

China Company News: Various companies have to come up with innovative measures to keep their employees engaged. So that employees stay connected with the company. A similar attempt has been made by a Chinese company. To motivate and retain its employees, the company has devised an elaborate scheme. The company has also provided housing to its 18 oldest employees along with jobs. The homes are priced between Rs 1 crore and Rs 1.5 crore and according to South China Morning, the gift is from Zhejiang Guosheng Automotive Technology. This company works to make spare parts of automobiles.

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This company has more than 450 employees and the production value of this company in 2024 is about 70 million dollars i.e. about 580 crore rupees. Meanwhile, the company has now decided to offer home visits to employees in the next 3 years. The aim is to ensure that engaged employees stay longer and that talented people stay with the company.

The general manager of the company, Wang Jiayuan, said that this plan is especially for employees who come to work from another city. He announced this for technical and management employees to get a rightful and permanent place to stay. Wang explained, this year they have given 5 flats and next year 8 more flats will be given. In this way, the company is planning to provide a total of 18 flats in the next 3 years. The direct objective behind this is to attract top talent and retain the key management team.

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The employees of the company will have to sign a housing agreement under this scheme and they can move in only after the company renovates the flat. After completing 5 years of employment, the house will be owned by them. However, the employees will have to do the renovation of the house only at their own expense. 2 of those who got 5 flats this year have progressed from entry level to management level. This plan is an attempt by the company to reduce costs and improve quality.

All these flats are just 5 km away from the company’s industrial area and the flats size ranges from 100 to 150 square meters. So, the average cost of a resale flat in that area is approximately Rs 89,000 to Rs 1 lakh per square meter.