Background of company
Heatec JieTong Pte Ltd is a company in the marine industry and has two core businesses in its portfolio, Heat Exchanger and Piping. Although its focus was originally in the marine industry, the company has now expanded into the Oil and Gas Industry as well. Heatec JieTong prides itself on providing a family oriented business environment to its employees. With its listing in 2008, the company has taken on a more corporate view of its business, but has striven hard to maintain a family like environment within the company as well.
A competitive and flexible compensation structure
Before the implementation of the HR Capability Toolkit, HR operations were run on an informal basis with no benchmarks followed for employee compensation and benefits. At the same time, the company also did not provide its sales staff with any commission, preferring instead to provide them with a fixed salary package.
The company used the templates provided within the Toolkit to come up with a more equitable wage structure for its employees, which is more aligned to the nature of its business. The template for calculating sales commissions within the Toolkit also helps in aligning its incentives with industry benchmarks.
Linking manpower planning to compensation and benefits framework
Being in the marine industry, Heatec Jietong’s workforce is primarily made up of manual labour from South Asia. These technical workers derive a substantial amount of their salary from working overtime and on public holidays. This is particularly so during peak periods or during tight timelines requested by the client. However, in times of lull periods or financial difficulty, these staff had to be laid off so as to maintain fiscal sustainability for the company. Doing so had resulted in additional resources required to train new employees.
By applying alternative manpower planning methods to its compensation and benefits framework, they have since been able to reduce the occurrences of such instances. This was achieved by a combination of good manpower forecasting, and the fair allocation of overtime work and corresponding allowances as a mechanism to keep all workers motivated during periods of lower business volume.
Year of Incorporation:
1990, listed in 2008
Precision Engineering & Marine