A company in Wenzhou, Zhejiang province, is offering flats to employees who have worked for more than five years in an effort to attract and retain talent.
Zhejiang Guosheng Automobile Co Ltd, which manufactures automotive fasteners, has bought multiple flats near its premises to reward staff. The company's owner said he purchased 18 units two years ago when prices were lower, spending over 10 million yuan (HK$11 million).
So far, five flats have been given away this year, including to two employees who rose from entry-level positions to management. Recipients must have contributed significantly to the company and sign an agreement to stay for another five years after receiving the property.
The owner explained the move aims to attract excellent talent and stabilize core management. He noted hiring difficulties and high staff turnover in the industry, which requires technical expertise. He framed the benefit as a cost-saving measure, saying dedicated employees could save the company one million yuan annually.
One recipient, who had worked in Wenzhou for over a decade, said he always wanted a home and "never expected the company to make it happen for us directly."
