Fat Donglai’s Founder Yu Donglai’s Unconventional Approach to Employee Benefits Garnering Attention
In a recent statement, Yu Donglai, the founder of Fat Donglai, suggested that entrepreneurs allocate 50% of their profits to their employees, directly increasing their salaries throughout the year to keep them motivated. This announcement comes after Fat Donglai’s unexpected success, with the company surpassing its initial profit goals.
According to reports from Sino-Singapore Jingwei, Yu Donglai had originally planned to earn 20 million yuan last year but ended up making a staggering 140 million yuan. As a result, the minimum wage for employees in Fat Donglai’s stores has risen to about 7,000 yuan per month, with many employees earning over 8,000 yuan. Despite the busy nature of the business, employees still enjoy regular working hours and holidays.
This is not the first time Yu Donglai has made headlines for his progressive approach to employee benefits. Earlier this year, Fat Donglai introduced a policy called “unhappy leave,” allowing employees to take time off when they are feeling unhappy without fear of the management’s refusal. Yu Donglai believes that this flexibility allows employees to prioritize their mental health and well-being.
In another bold move, Fat Donglai announced plans to send all employees on an overseas trip this year, with the company covering the expenses. This initiative aims to broaden employees’ horizons and provide them with new experiences outside of their usual routine.
Yu Donglai’s unique approach to employee benefits has earned him praise from industry experts, with some calling Fat Donglai a “god-like existence” in China’s retail industry. Xiaomi’s Lei Jun and Alibaba’s Jack Ma have both expressed admiration for Yu Donglai’s leadership and the company’s success.
In a time when employee well-being and satisfaction are increasingly important, Yu Donglai’s initiatives at Fat Donglai serve as an example of how companies can prioritize their employees’ happiness and motivation. As the business world evolves, it will be interesting to see if more companies follow in Fat Donglai’s footsteps and adopt similar employee-centric policies.