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Budgeting for 2016 HR Cost
When HR departments plan for the HR cost of 2016, they should consider the following issues:
- The HR cost should at least include the gross salary and social security components as well as certain supplementary benefits such as commercial insurance and staff health check-up
- The minimum wage would be adjusted in April every year in Shanghai as usual
- The social insurance base would be increased in April 2016 in Shanghai
- The housing fund base would be increased in July 2016 in Shanghai
- How to improve staff benefits without increasing the HR cost, for example, by increasing the annual leave entitlement