Samsung's most important division, Samsung Electronics, has decided to raise the wages of all its employees starting next month, when the new fiscal year begins (as of last year, their number was more than 287). And the increase will be generous indeed – averaging 7,5%. In addition, Samsung Electronics will pay individual bonuses of 3-4,5% depending on performance.
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Within the company, this is the largest wage increase in more than ten years. Samsung Electronics said in a statement that the new wage increase was agreed because the overall financial performance across all segments was more than satisfactory last year. Samsung also said that the wage increase for the upcoming fiscal year is just a sign of things to come. Specifically, the company strives to keep wages 20-40% higher than all other tech rivals.
This move is a good example of why Samsung has ranked high in employee satisfaction in recent years. Last year, the Korean technology giant was named the best employer in the world by Forbes magazine.
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