Recently, 99 Speedmart founder Lee Thiam Wah reached billionaire status. This was followed by chatter about how the company allegedly paid their employees poorly despite working long hours to ensure its success.
Currently, their branch managers are paid an average of RM3,300 based on the market value. As for cashiers, the net pay income is around RM1,649 but the gross pay is more than RM1,800, which is above the national minimum wage of RM1,500.
Source: https://ms.wikipedia.org
The employees also enjoy annual salary increments, yearly bonuses, and access to panel clinics. There are growth and training opportunities in the company with managers receiving training with Universiti Kebangsaan Malaysia (UKM).
99 Speedmart employees also enjoy additional benefits such as a free SIM card with 40GB data and unlimited calls for all staff and free food vouchers.
Three types of overtime pay: Normal Days, Rest Days, and Public Holidays. For Normal Days, they are paid 1.5x their hourly rate. For Rest Days, they’re paid double the amount and on public holidays, they get three times the pay. New mothers get the standard 98-day leave while fathers get one to 7 days based on years of employment.
99 Speedmart currently has 2,684 outlets nationwide with a total of 22,000 staff.
To fully appreciate employees, performance related bonuses and other reward mechanism (including loans) could be incorporated. The founder’s fortunes is by the efforts of his staff and not solely his alone. Going forward, robotics and AI could be a feature for new stores?
Reference:
How much are 99 Speedmart employees actually paid? COO clarifies, Adeline Leong, The Rakyat Post, 12 September 2024
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