Was Yang Yuanqing’s Gift a Kind Gesture or Reminder Of His Wealth?
Lenovo Chairman Yang Yuanqing will share his bonus of $3.25 million with employees in more than 20 countries. This is an amazing gesture towards Lenovo's 30,000 employees worldwide.
Lenovo is a company of affluence and considerable resources which drastically increased Yuanqing's income. Besides increasing his base salary to $1.2 million, Lenovo awarded Yuanqing a $4.2 million discretionary bonus and an $8.9 million incentive award. In addition, he owns 7.12% of Lenovo's shares, equivalent to $720 million of Lenovo's stock. The chairman's gift of $3.25 million results in a $300 bonus for Lenovo employees in China, Japan, the United States and 19 other countries. Some may criticize Yuanqing's generosity because they consider a $300 bonus small compared to his total income and investments, desiring greater bonuses. Although many are already calling this a publicity stunt, this instead appears to be a genuine token of appreciation and generosity. Yuanqing could have easily flaunted his wealth without thanking anyone, but will share his earnings with employees because of their contributions to Lenovo's growth and success. He is also confirming to the world that Lenovo is a company of solidarity, stability, and financial security which conveys Yuanqing's complete value and care for the employees.
A sum of 9,000 employees in China, Japan, the United States, and 19 other countries can expect the $300 bonus. The first three countries are easily expected since Beijing is the main headquarters, Japan is one of the world's technological centers, and the United States is the secondary headquarters; but sharing this gift with offices in other countries is a sign of true appreciation and respect for his employees.
"As you can imagine, an extra $300 in a manufacturing environment in China does make an impact, especially to employees supporting families," said Angela Lee, Lenovo spokeswoman in Hong Kong. Even Sina Weibo, a Chinese microblogging site, describes Yuanqing as a good, humane boss.
Lenovo increased its PC catalog and computer merchandise after acquiring IBM Corporation in 2005. The company is primarily headquartered in Beijing, but maintains a secondary headquarters in North Carolina's Triangle Park, the original location for IBM's headquarters. This implies that more opportunities and benefits were offered to employees as Lenovo grew in size and locations. Sales analyses for the April – June 2013 period indicated that Lenovo surpassed Hewlett-Packard (HP), establishing itself as the largest PC manufacturer worldwide. Lenovo is a prosperous company, and Yuanqing knows that the employees' astute diligence in teamwork and individual progress are a prime factor in its success.
The chairman also hints at the notion of future acquisitions by assisting HTC Corporation and BlackBerry in their business endeavors. If this happens, Lenovo will be a powerful competitor for Google, Microsoft, and Samsung. Thus, there could be a possibility of Yuanqing sharing more and greater bonuses with Lenovo employees in the future.
Yuanqing is a considerate, exemplary chairman and person, because he genuinely cares for his employees and their welfare. Through this unprecedented act of generosity, Yuanqing expresses his gratitude for the employees tremendously and revealed that their teamwork and contributions are great assets to Lenovo. We should commend him for his benevolence and expect similar actions like this in the future.