COMPENSATION & BENEFITS: Upstart telecommunications provider Circles.Life has long claimed to approach its workforce a little differently.
When it comes to building cost-effective, and yet still attractive compensation plans for its 600-strong (and growing) workforce in Singapore, the company includes several unique propositions. These include:
Work From Anywhere Policy: This initiative facilitates greater flexibility as all employees are entitled to work from anywhere in the world for up to 20 days a year.
Stock Option Plan: Their Employee Stock Ownership Plan grants employees significant stakes in the company. Each year, all employees, regardless of rank or tenure, receive two months' base pay worth of stock options on top of their basic salary and performance bonuses.
Employee Referral Program: The company proactively campaigns for employee referrals internally to aid in its ambitious talent acquisition efforts. Employees are encouraged to recommend qualified friends, relatives or ex-colleagues for open positions. If the referred party is hired, they receive a cash bonus of up to SGD 5,000.
"We're growing at a breakneck pace, and like all other companies, we are working to strengthen employee engagement in the new normal,” Stephanie Nash, Chief People Officer of Circles.Life (pictured, right) said.
“We're making good progress strengthening our People and Culture value proposition that will flow through into our revised employer value proposition. We think of our employees as internal customers, and we're putting in place a broad range of programmes to ensure they're empowered with the right conditions, skills and tools to succeed."
This case study was extracted from Chief of Staff Asia's report on Compensation, Benefits, and Employee Health. For further coverage, and access to the full report, please see any of the below links:
Benefit costs up but loyalty stagnant: Chief of Staff research (news highlight)
Circles.Life doing it differently on comp & ben (case study) March 29, 2022
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