Santa Lee delivers good news on pay rises early
There's no better early Christmas present than hearing you are about to receive a bigger pay cheque.
Henderson Land Development chairman Lee Shau-kee played Santa Claus yesterday when he broke the news that his company would resume pay rises with an average increase of 3 per cent for its 1,300 staff next year, while some 'super-performers' will get between 10 and 20 per cent.
'What about you? Do you have a pay rise?' asked Lee, who responded with a question to a reporter who had asked about the firm's compensation. 'I am sure you do ... and so will everyone in Hong Kong.'
The pay rises come on the back of a strong rebound in equities and particularly properties - remember the notorious 68th floor Mid-Levels duplex Henderson sold for HK$88,000 per square foot - after a dismal 2008 when Lee ordered a general salary freeze and gave only a 1 per cent raise to the top achiever.
The 3 per cent rise, we gather, is at the high-end among major property developers, most of whom proposed increases of between 2.2 per cent and 2.9 per cent next year.