February 19, Trinity Group 2011 Annual Report Conference and the annual performance contract signing ceremony held at the headquarters in Changsha. At the meeting, Liang Wengen, chairman and pumping division, heavy machine Kunshan, Beijing pile driver, Crane Division, Road Business Unit, Shanghai Science and Technology, glue stick Hong Kong Business Unit, Trinity Electric, ZTE Corporation, Sauter drive and other units were 2011 signing of annual performance contracts.
Meanwhile, the Group of 2008-2010 three-year medium-term incentive target the first round draw a perfect full stop. Annual incentive and long-term incentives continue making high-speed Trinity will no doubt grow into a powerful driving force.
Long-term incentive will help ambitious goals.
Since 2006,glue gun Trinity began to carry out the annual incentive division. In 2008, Trinity was first introduced into long-term incentives. February 29 that year, the Division signed a 2008-2010 long-term incentive performance of the first round of contracts. In this year, the department will also sign a second round of the long-term incentive performance contracts.
"In 2008, the company made billions of ambitious objectives, and long-term incentives to guide business units to pay more attention to long-term operation to enhance the quality of its annual performance than incentives to long-term goals for the company to provide more lasting power . "Huang Jianfeng Performance Management Commission Office of the Minister said.
According to report, by five years of exploration, improve, Trinity currently has a performance appraisal, assessment, and business fields, director of evaluation module combination of the three assessment and incentive system.
Trinity performance incentives as the main performance assessment and incentive system and the functions of the Division is divided into two parts Headquarters: Division of assessment and incentive to take the annual assessment and evaluation method of combining long-term; functions of the headquarters of the performance evaluation from 2010 formally implemented, covering the annual target, the core capacity-building, focus the content of such assessment.
"On the other hand, long-term incentives can also protect the stability of the management team, so that a stable management team in the continued development of the Trinity to play cause of their talent to contribute their efforts." Huang Jianfeng said.
Guide the signatories were concerned about the cultivation of long-term competitiveness.
According to report, the 2011 annual performance contracts signed compared to previous years, there are several differences.
First, an increase of the annual performance contract "effective relative market share" in the assessment indicators. Increase in this indicator reflects the thirty-one pairs of industry and responsible attitude, it requires signatories were the prerequisite to gain market share is to ensure no decline in gross margin level, to prevent the contract unit price by reducing the product obtained by means of artificially high market share , so as to maintain the market order and the Trinity brand.
Second is to increase the competitive examination on the content. The assessment indicators guide the signatories from the eight units in the development of long-term competitiveness of concern, not just concerned about the short-term operating results achieved. Finally, this annual performance contract also further enrich the connotation of the terms of integrity, strengthen management of major mistakes contract monitoring unit.
Huang Jianfeng description: "The assessment and incentive in the final analysis is to help people succeed, so that 'the interests of the sun' guide staff actions are consistent with the company's expectations. In the development of the company, access to development opportunities for staff."
"Next, we need to further improve the incentive system, evaluation system in the realization of a cost center, profit center, full coverage, while the headquarters functions, optimizing index system, the implementation of performance break down, down, down to every level incentives and pressure, layers of communication, incentive to achieve maximum effect. "
The annual performance contract entered into various units are said to fulfill performance targets are very confident.