More than half of employers across Asia expect to award a bonus to 53% of their staff this year, according to a survey of employers conducted by recruiting experts Hays.
The survey of 2,600 employers, conducted as part of the 2014 Hays Salary Guide, found that bonuses are being awarded. Most people have, or will soon, receive their annual bonus. How does your bonus stack up to the averages being paid out this year?
According to the Salary Guide a total of 47 per cent of these bonuses will range between 11 and 50 per cent of staff salary, while 34 per cent will be less than 10 per cent.
In the higher range, 11 per cent of staff can expect a bonus of between 51 and 99 per cent, while only 8 per cent can hope for a bonus of 100 per cent of salary.
“If you and your company are performing well there is a good chance you will receive a bonus this year. Results from our survey show bonuses are directly related to employer performance (79%) and employee performance (87%),” said Chris Mead, Regional Director of Hays in Singapore & Malaysia.
“However, it’s worth noting that only 14% of companies in the survey said bonuses are guaranteed and 12 per cent of employers did say that no staff will be awarded a bonus this year.
“If you are unsure about whether you are being paid the correct value, rather than try and talk to your peers, you can speak to an expert recruiter in your field,” says Chris.
“Insights gained from our research provide us with an in-depth knowledge on the type of salary you can expect from a new role and we can also provide advice on what you need to do in order to secure higher remuneration.”
The survey showed that a total of 9 per cent of employers said 20 to 50 per cent of staff can expect to receive a bonus, down from 10% last year. Meanwhile, 13 per cent said 10 to 20 per cent of their employees will be awarded a raise, up 1 per cent when compared with 2013.
A total of 13 per cent of respondents also said less than 10 per cent would receive a bonus, down from 14 per cent of employers surveyed in last year’s survey.
Get your copy of the 2014 Hays Salary Guide by visiting http://www.hays.com.my, contacting your local Hays office or downloading The Hays Salary Guide 2014 iPhone app from iTunes.
Hays, the world’s leading recruiting experts in qualified, professional and skilled people.