Name of Organization/Company: MGM China, Cotai, Macao, China
Category: Achievement in Compensation Design and Administration
MGM is an abbreviation for MGM China Holdings Limited (HKEx:2282) and is a leading operator of gaming and lodging resorts in the Greater China Region.
MGM operates two integrated resorts with 11,000 employees comprising 30 nationalities. As a key employer in Macau, we pioneered in developing many “people-centric” practices that demonstrates our commitment to rewarding performance and cultivating success.
We strive to provide an innovative & comprehensive benefits package that best meet our employees’ needs. Our market-based job compensation grading approach is strategized to fulfill the Company’s fundamental goal of attracting and retaining a diverse and highly skilled workforce. To accomplish this, the Company’s remuneration system aims to be: Competitive, Comprehensive, Objective and Developmental.
Our achievements below in compensations:
﹒Market Benchmark & Salary Alignment : Change from 6-day work to 5-day work for specific operation department
﹒Employee Recognition Program: Golden Lion Award: 2,005 winners, Leo Award: 27,706 winners
﹒Special Management Retention Bonus
We value the longevity of our relationships with high potential employees as they play a key role in growing our brand and maintaining our top-notch service standards. We have implemented and developed a strategy to identify and retain high potential talent.
Voluntary Leisure leave
To safeguard jobs and preserve the wellbeing of the Company during the pandemic, we launched voluntary leisure leave schemes, the schemes have also taken into consideration that many employees would like to spend more time looking after their family.
Special Consideration Program
﹒Casinos were closed for 15 days during peak of the COVID-19, to secure employee safety, they were sent home without work with full pay. Employees were granted additional compensation even they are required to work to maintain minimal operations
﹒To strengthen the epidemic prevention, provided face masks and anti-epidemic supplies daily. Produced educational video to raise hygiene awareness
﹒Waive the rental for employee dormitory to relieve their financial burden
﹒Vaccination is a critical step in protecting the community and workplace, we offered 2-day leave to encourage employees who take the COVID-19 vaccination
Career Development and Diversification
﹒Converted conventional classroom learning to online or virtual training right after pandemic started. Compare to 2019, the number of active users increased to 10,284 (71 % up) and online learning hours went up to 29,018 hours (354% up)
﹒Offer internal positions for employees for cross secondment for specific period
﹒Sent employees to participate in external training for diversified skillset
﹒Reinforce skills training, work related seminars to escalate skills to next level with the craftsmanship spirits
﹒Virtual exchange program with Diaoyutai MGM
﹒New program “MGM Ready” was launched to get employees ‘recharged’ and fully prepared to the “new normal” environment
With the steps we have taken to address the economic impact of COVID-19, we have been successful in avoiding hurting our community with job reduction. When times were difficult, we show solidarity with our community to provide employment security. These measures have strengthened employee loyalty and engagement while meeting the Company’s objectives to contain cost.
The implementation of Leave Programs had resulted in substantial cost savings during March 2020 to March 2021:
﹒Voluntary leisure leave schemes: US$47.4m
﹒Medical Insurance: US$2.6m
(Successfully negotiated cost reduction with medical insurance company without any changes in medical coverage so employees can enjoy the same medical benefits)
﹒Turnover of 874 Employees: US$13.9m
Cost savings totaling US$63.9m (equivalent to 2 months payroll) which alleviated company’s cash flow pressure. We also have 6.6% headcount reduction from 2020 which is the lowest comparing to the industry in the town while some competitors as high as than 15%.
Apart from the cost containment, learning is a lifetime investment and highly self-beneficiary. To encourage growth and lifelong learning for our employee, we have invested in a variety of learning opportunities, including e-Learning class, back to school education, post graduate education, exchange program with Greater Bay Area and Diaoyutai MGM Hospitality (China) etc. in order to upgrade their skill and develop internal potential talent from all aspects.
Supporting Document: https://vo-general.s3.amazonaws.com/a1ab4161-9c30-4e28-88fc-d6ad384e3fe2/002af55d-d6b4-40f5-b996-e2a33eb50ff4?AWSAccessKeyId=AKIAJ4PRWO26HAX3IOCA&Expires=1720302739&response-content-disposition=inline%3B%20filename%3D%22MGM_Achievement%20in%20Compensation%20Design%20and%20Administration_%20%20Supporting.pdf%22&response-content-type=application%2Fpdf&Signature=OkZUUzmrRBLwFjukHXDNEYuSAVg%3D