Remuneration and Benefits
Noah provides employees with better-than-market compensation, including general salary, bonuses, benefits, equity, stocks or options, and pay according to job content and rank. We also offer performance bonuses according to their annual performance and quarterly bonuses for some positions considering the nature of their work and relevant quarterly assessments. In addition, Noah also provides a variety of living and work-related subsidies, including communication cost subsidies, business trip subsidies, etc., to perform the corporate social responsibility of taking care of employees.
In 2021, based on the achievements of the overall compensation system program, Noah has established compensation standards and packages for different business lines, as well as regular compensation management rules to implement Noah’s compensation philosophy and strategy further.
In the future, we will also plan to integrate sustainability indicators into the evaluation of corporate operating compensation to effectively link employees’ performance in the field of sustainability with the compensation system. Thus, the senior management can focus on ESG and other non-financial objectives and financial performance and enhance Noah’s sustainable competitiveness.
Proportion of Male to Female Compensation by Rank
Rank
Male
Female
N5 and above
1
0.93
N4
1
1.86
N3
1
0.93
N2
1
1.00
N1
1
0.97
Note: 2021 actual cost + annualized year-end bonus, including those for oversea employees.
Item
Proportion
Proportion of the median annual compensation of CEO to all employees
38.25:1
Proportion of the average annual compensation of CEO to all employees
25.45 :1
To provide competitive compensation for potential human resources, we have standardized compensation through long-term incentive policies and programs with motivating effects and rewarded Noah’s employees for their business performance.
The percentage of senior managers enjoying two long-term incentives, equity incentives and Carry bonus, is 84%. If we add the senior managers who are entitled to a mid-and long-term strategic bonus and long-term service rewards, the percentage of senior managers enjoying equity incentives, Carry bonus, medium to long-term strategic rewards, and long-term service rewards are 100%.
Noah Compensation and Incentive for Senior Executives
Non-compensatory Benefits
Noah provides non-compensatory benefits for all employees, including medical checkups, commercial employee insurance, Noah Health Day, Noah EAP, communication allowance, birthday care, holiday benefits, various employee pieces of training, club activities, theme activities, afternoon refreshments, mutual funds, Shanghai trade union benefits, and talent apartments.
In 2021, Noah mutual fund was upgraded, including 1. lowering the entry threshold; 2. expanding the fund’s recipient groups; 3. expanding the fund’s funding projects.
Item
Description
Total investment in 2021
Commercial insurance for all employees
Accidental injury and disability: accidental death, disability, burns;
Accidental medical treatment: the cost of treatment resulting from an accident;
Airplane traffic accident, railroad, ship traffic accident, automobile traffic accident;
Death and disability caused by traffic accidents;
Death by Sickness: death from non-accidental causes;
Serious Diseases: Immediate compensation upon initial diagnosis
RMB 2,560,000
Benefits for holidays, birthdays, etc.
Covering all employees
RMB 1,217,000
Noah Labor Union
1. All union members of the Group can apply for union membership service cards. The number of employees holding union cards is now 226, which can enjoy value-added services such as discounted subway fares in the city, train tickets during the Spring Rush, and cashback on air tickets.
2. Whenever a regular employee suffers from a severe illness or unfortunately passes away, a pension (or comparable items) of RMB 500 or 3,000 will be given for condolence.
3. Children’s Day, Christmas Day, Women’s Day, New Year’s Day, and other vital holidays will witness thematic experience activities with employees to feel the holiday atmosphere.
4. Employees can enjoy talent apartments and rental subsidies. In 2021:
• We assisted 11 employees in applying for talent apartments in Yangpu District. In 2021, there were 22 Noah employees living in talent apartments.
• We assisted 39 employees in applying for rental subsidies in Hongkou District, with a total subsidy amount of RMB 501,000
• We assisted 16 employees in applying for rental subsidies in Yangpu District, with a total subsidy amount of RMB195,200.
5. Once a year, we provide a retreat vocation for our employees (a relaxing break in the suburbs).
6. We encourage employees to set up employee associations, and the labor union manages them as financial supporters. There are 21 associations (including dance club, soccer club, basketball club, etc.).
RMB 475,000
Party Building
1. We purchased 100 sets of study books for the Party Branch to host study sessions and book clubs where selected reviews will be incentivized.
2. We purchased movie tickets for Party and Labor Union activities.
3. Party members volunteered to raise “Special Party Funds” to support families in need in the community, with a total donation of nearly RMB 70,000.
4. We set up a “Party Member Pioneer Post” for the newly recruited Party members at their workstations to show their identity and encourage them to be exemplars.
5. To celebrate the 100th anniversary of the founding of the Party, the Group General Branch developed a series of activities.
• Activity I: Measure the Red Road with Our Feet
• Activity II: Play the Red Music with Our Heartstrings
• Activity III: Passing on the Red Gene with Movies
RMB 54,300
Employee Health
1. We maintain baby care rooms to provide convenience for mothers in the workplace, which was awarded the four-star honorary title of Shanghai Mommy Hut this year;
2. We install AED equipment in the workplace and cooperation with the First Aid Society to conduct first aid seminars, covering a total of 100+ certified employees;
3. Regular health days are held to provide employees with rich and exciting health services (including TCM massage, TCM pulse taking, healthy diet, women’s health care, etc.).
RMB 15,000
Noah Women's Federation
In 2021, Noah Holdings Women’s Federation was formally founded. It laid out the plan for women’s work for the next five years:
1. Strengthen the self-construction of the Group and revamp the working mechanism of the Women’s Federation: improve the ability of women to perform their duties, establish the operating mechanism of the executive committee’s deliberations, so that there is an annual plan, quarterly activities, and monthly communication.
2. Actively explore the integration model and promote the integration of the Party, Labor Union, and Women’s Federations: closely follow the professional characteristics of women, provide precise services, and add new vitality to the Party and people integration building.
3. Actively participate in municipal projects and form a positive interaction between government and enterprise: we participate in social governance and public welfare through tasks such as “Navigating and Helping to Fly” for female college students to enhance the overall brand effect of Noah.
4. Gather “Her” power to create a brand and exemplar: we use Noah’s human resources to dig out the pioneer women in the workplace, cultivate special teams and leaders, and build more platforms to show women’s style.
RMB 50,000
Noah Philharmonic
1. Noah Philharmonic was established in 2018 to train youth musicians. It provides a platform of quality music resources and allows youth group members to experience the charm of musical cooperation, serving as a platform for music education, appreciation, and public service art.
2. IPEA International Percussion Competition: Noah Philharmonic participated in the Sixth IPEA International Percussion Competition in 2021.
RMB 200,000
Remuneration and Benefits
Noah provides employees with better-than-market compensation, including general salary, bonuses, benefits, equity, stocks or options, and pay according to job content and rank. We also offer performance bonuses according to their annual performance and quarterly bonuses for some positions considering the nature of their work and relevant quarterly assessments. In addition, Noah also provides a variety of living and work-related subsidies, including communication cost subsidies, business trip subsidies, etc., to perform the corporate social responsibility of taking care of employees.
In 2021, based on the achievements of the overall compensation system program, Noah has established compensation standards and packages for different business lines, as well as regular compensation management rules to implement Noah’s compensation philosophy and strategy further.
In the future, we will also plan to integrate sustainability indicators into the evaluation of corporate operating compensation to effectively link employees’ performance in the field of sustainability with the compensation system. Thus, the senior management can focus on ESG and other non-financial objectives and financial performance and enhance Noah’s sustainable competitiveness.
Proportion of Male to Female Compensation by Rank
Rank
Male
Female
N5 and above
1
0.93
N4
1
0.86
N3
1
0.93
N2
1
1.00
N1
1
0.97
Note: 2021 actual cost + annualized year-end bonus, including those for oversea employees.
Item
Proportion
Proportion of the median annual compensation of CEO to all employees
38.25:1
Proportion of the average annual compensation of CEO to all employees
25.45 :1
To provide competitive compensation for potential human resources, we have standardized compensation through long-term incentive policies and programs with motivating effects and rewarded Noah’s employees for their business performance.
The percentage of senior managers enjoying two long-term incentives, equity incentives and Carry bonus, is 84%. If we add the senior managers who are entitled to a mid-and long-term strategic bonus and long-term service rewards, the percentage of senior managers enjoying equity incentives, Carry bonus, medium to long-term strategic rewards, and long-term service rewards are 100%.
Non-compensatory Benefits
Noah provides non-compensatory benefits for all employees, including medical checkups, commercial employee insurance, Noah Health Day, Noah EAP, communication allowance, birthday care, holiday benefits, various employee pieces of training, club activities, theme activities, afternoon refreshments, mutual funds, Shanghai trade union benefits, and talent apartments.
In 2021, Noah mutual fund was upgraded, including 1. lowering the entry threshold; 2. expanding the fund’s recipient groups; 3. expanding the fund’s funding projects.
Item
Description
Total investment in 2021
Commercial insurance for all employees
Accidental injury and disability: accidental death, disability, burns;
Accidental medical treatment: the cost of treatment resulting from an accident;
Airplane traffic accident, railroad, ship traffic accident, automobile traffic accident;
Death and disability caused by traffic accidents;
Death by Sickness: death from non-accidental causes;
Serious Diseases: Immediate compensation upon initial diagnosis
RMB 2,560,000
Benefits for holidays, birthdays, etc.
Covering all employees
RMB 1,217,000
Noah Labor Union
1. All union members of the Group can apply for union membership service cards. The number of employees holding union cards is now 226, which can enjoy value-added services such as discounted subway fares in the city, train tickets during the Spring Rush, and cashback on air tickets.
2. Whenever a regular employee suffers from a severe illness or unfortunately passes away, a pension (or comparable items) of RMB 500 or 3,000 will be given for condolence.
3. Children’s Day, Christmas Day, Women’s Day, New Year’s Day, and other vital holidays will witness thematic experience activities with employees to feel the holiday atmosphere.
4. Employees can enjoy talent apartments and rental subsidies. In 2021:
• We assisted 11 employees in applying for talent apartments in Yangpu District. In 2021, there were 22 Noah employees living in talent apartments.
• We assisted 39 employees in applying for rental subsidies in Hongkou District, with a total subsidy amount of RMB 501,000
• We assisted 16 employees in applying for rental subsidies in Yangpu District, with a total subsidy amount of RMB195,200.
5. Once a year, we provide a retreat vocation for our employees (a relaxing break in the suburbs).
6. We encourage employees to set up employee associations, and the labor union manages them as financial supporters. There are 21 associations (including dance club, soccer club, basketball club, etc.).
RMB 475,000
Party Building
1. We purchased 100 sets of study books for the Party Branch to host study sessions and book clubs where selected reviews will be incentivized.
2. We purchased movie tickets for Party and Labor Union activities.
3. Party members volunteered to raise “Special Party Funds” to support families in need in the community, with a total donation of nearly RMB 70,000.
4. We set up a “Party Member Pioneer Post” for the newly recruited Party members at their workstations to show their identity and encourage them to be exemplars.
5. To celebrate the 100th anniversary of the founding of the Party, the Group General Branch developed a series of activities.
• Activity I: Measure the Red Road with Our Feet
• Activity II: Play the Red Music with Our Heartstrings
• Activity III: Passing on the Red Gene with Movies
RMB 54,300
Employee Health
1. We maintain baby care rooms to provide convenience for mothers in the workplace, which was awarded the four-star honorary title of Shanghai Mommy Hut this year;
2. We install AED equipment in the workplace and cooperation with the First Aid Society to conduct first aid seminars, covering a total of 100+ certified employees;
3. Regular health days are held to provide employees with rich and exciting health services (including TCM massage, TCM pulse taking, healthy diet, women’s health care, etc.).
RMB 15,000
Noah Women's Federation
In 2021, Noah Holdings Women’s Federation was formally founded. It laid out the plan for women’s work for the next five years:
1. Strengthen the self-construction of the Group and revamp the working mechanism of the Women’s Federation: improve the ability of women to perform their duties, establish the operating mechanism of the executive committee’s deliberations, so that there is an annual plan, quarterly activities, and monthly communication.
2. Actively explore the integration model and promote the integration of the Party, Labor Union, and Women’s Federations: closely follow the professional characteristics of women, provide precise services, and add new vitality to the Party and people integration building.
3. Actively participate in municipal projects and form a positive interaction between government and enterprise: we participate in social governance and public welfare through tasks such as “Navigating and Helping to Fly” for female college students to enhance the overall brand effect of Noah.
4. Gather “Her” power to create a brand and exemplar: we use Noah’s human resources to dig out the pioneer women in the workplace, cultivate special teams and leaders, and build more platforms to show women’s style.
RMB 50,000
Noah Philharmonic
1. Noah Philharmonic was established in 2018 to train youth musicians. It provides a platform of quality music resources and allows youth group members to experience the charm of musical cooperation, serving as a platform for music education, appreciation, and public service art.
2. IPEA International Percussion Competition: Noah Philharmonic participated in the Sixth IPEA International Percussion Competition in 2021.
RMB 200,000