Alibaba Sweetens Employee Perks In Sharp Contrast To Jack Ma's Hard Driving Culture

Alibaba Group Holding Ltd BABA has enhanced its employee perks by offering more paid time-off, bigger allowances, flexible work schedules, SCMP reports.

• Alibaba's package includes seven days of fully-paid annual leave for family reunions, ten additional leave days for new parents to care for babies, and 20 days of one-off holiday for staff who have at least ten years of service.
• Employees can now work from home one day a week.
• Alibaba also raised its annual team-building budget to 1,200 yuan ($188) - 1,800 yuan per person from 800 yuan - 1,200 yuan. Alibaba launched a new monthly transport allowance of up to 1,200 yuan.
• Alibaba's move aims to boost employee morale after regulatory scrutiny, competition, and share price plunge.
• Founder Jack Ma once said publicly that its philosophy was to "hire three people to do five people's jobs while paying them four people's salaries." In return, Alibaba offered staff benefits beyond the legal requirement.
• China's Big Tech firms are under pressure to address public scrutiny of the industry's brutal work schedule known as 996 – 9 am to 9 pm, six days a week.
• TikTok parent ByteDance recently ended its work culture of employees working a six-day week every fortnight. 
• Tencent Holdings Ltd TCEHY subsidiary Lightspeed & Quantum Studios launched a policy requiring employees to go home before 6 pm on Wednesdays.
• Related Content: Analysts Slash Price Targets On Alibaba On Dismal Q2 Performance, Outlook
• Price Action: BABA shares traded lower by 2.20% at $123.80 in the premarket session on the last check Wednesday.