Singaporeans Have High Bonus Expectations For 2019; Will They Be Met?
Singaporean employees have high bonus expectations
83% of Singapore-based employees are expecting to receive a bonus this year, out of which 69% anticipate receiving a bonus of between one month and two months.
According to the The Randstad Singapore’s Bonus Expectations 2019 survey, which was published on April 1, around a quarter (27%) of respondents expect an annual bonus of between three to five months.
Most Singaporeans are expecting bonuses, despite the fact that only 52% received them last year.
Mismatched bonus expectations
Employers are conservative when it comes to bonus payouts this year. 81% of employees are planning to give a one-month to two-month bonus payout this year.
And while 27% of respondents expect an annual bonus of between three to five months, only 17% of employers are planning to meet these expectations.
1 in 3 employees are willing to leave if not given bonuses
Almost 2 in 3 employees (64%) said that bonuses were important to them, but a lack of bonus would not be a deal breaker when it comes to staying with the company.
However, 36% of the respondents said that they would most likely start a new job search in 0219 if they did not receive bonuses.