employees get showered with Money @ LG

I was definitely amused by this news article in today's ET "LG Electronics gives 200% and 700% of basic salaries to employees"

LG knows how to motivate its employees, and it motivates big time.With the announcement of the bonus which can be upto 700% of the basic salary of employees, LG has also informed the market about its own performance. I must appreciate COO, YV Verma for the employee friendly policies of LG.

This bonus includes the following

• Two half-yearly performance incentives,
• Diwali bonus,
• Post-Diwali bonus,
• LG Birthday Bonus and
• Retention Bonus
  

Believing in the motto, "life's good", LG paid bonus even during recession when other companies did not pay. I am sure, this small act of paying bonus irrespective of the market growth won loyalty of employees, which is not so easy to earn. I would definitely say, Happy employees make happy companies. And LG cares about happiness of its employees.

In india, the monetary rewards still score much more than non monetary rewards. Any day, employees would love to get hard cash instead of a fully paid trip to Malaysia or Thailand. Traditional indian values of saving money, is still not forgotten by all. And even employees who love to spend, gets satisfaction by spending money themselves, rather than just getting something for free.

One more good thing about LG is not only appreciating the results but also the risk taking abilities of the employees, and taking up challenging initiatives.

Source:
http://economictimes.indiatimes.com/news/news-by-industry/jobs/bonus-lg-electronics-gives-200-and-700-of-basic-salaries-to-employees/articleshow/7400473.cms