ByteDance raises annual bonus for high-performing employees amid restructuring and latest TikTok crisis in US
- Employees rated ‘M’ or higher will be rewarded extra payment of between 5 per cent to 15 per cent of the original bonus amount they received
- The additional payout will cover a significant portion of ByteDance’s 110,000 global employees
While employees have started to receive their bonuses for the past year based on their performance review, those who were rated “M” or higher will be rewarded extra payment of between 5 per cent to 15 per cent of their original bonus, according to Hua Wei, head of human resources at ByteDance, in an internal email sent on Thursday that was seen by the South China Morning Post.
The firm’s M rating, which stands for “meet expectations”, is the fifth highest of eight classifications that most company workers can achieve. It usually comes with a bonus worth an employee’s three-month salary, according to two ByteDance workers who declined to be identified.
The additional payout, which covers a significant portion of ByteDance’s 110,000 global employees, shall be provided in share options by default. Cash will be offered in certain instances, according to Hua’s email, which said the financial incentive distinguishes employees “who perform better”.
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ByteDance did not immediately respond to a request for comment.
The increased bonus programme shows the lengths taken by ByteDance to retain and attract talent, even as the company continues to restructure its operations this year.
