New Delhi, Dec. 21 -- A Chinese auto components company is grabbing headlines after introducing an unusual incentive - offering an apartment to employees who stay with the firm for at least five years - to boost staff retention.

Zhejiang Guosheng Automobile Co Ltd, which manufactures automotive fasteners, has purchased 18 residential flats in close proximity to its office. These homes will be awarded to employees as part of a long-term retention plan, according to a report by The Standard.

The company acquired the properties about two years ago, when real estate prices were lower than current levels. In total, the firm's owner invested more than 10 million yuan (around Rs.12.7 crore) to purchase the units.

A recent job listing by the W...