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Singapore dollar versus Malaysian Ringgits

Employees in Singapore received 1.45 months’ bonus last year

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The average guaranteed bonus, or annual wage supplement (AWS), received by Singapore employees in 2016 is approximately 1.45 months’, found the Job Outlook and Bonus survey by JobStreet.com.

However, the survey also pointed out that of the 400 employees across various industries polled, about 30% of them did not receive any AWS last year. Furthermore, more than 35% of respondents did not receive any performance-based bonus too.

Across the strait in Malaysia, a separate Bonus and Increment 2017 survey by JobStreet.com found that 84% of employees received some bonus last year, with a majority (19%) receiving a one-month bonus.

The survey also found that 41% of the employees felt their bonuses are at par compared to other companies in their industries.

The survey added that 90% of employers in Malaysia are expected to give out bonuses this year, with 67% giving out bonus between one to two months.

Interestingly, while more than seven in 10 employees in Malaysia (72%) found bonus quite important in making them stay, 58% of employers did not think bonuses contribute to employee retention. Instead, employers felt that the decision to leave or stay is inclined to other factors such as better job opportunities and career progression.

Job seekers in Singapore pessimistic about the job outlook

Apart from shedding light on bonus schemes, the Job Outlook and Bonus survey also revealed that many job seekers are pessimistic about the job outlook, with 60.9% of them believing it would be hard to find a job in 2017.

At the same time, 68.9% of them felt that companies will likely put their expansion plans on hold and not hire new employees and 73% of them thought landing an interview and getting a job with good opportunities will be challenging.

Despite that, more than 70% of the respondents indicated that they would still actively monitor and look for new career opportunities.

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