The past year has presented many employers and professionals around the world with unprecedented challenges. Despite this, many are finding ways to adapt the our ‘new normal’.
We have continued to receive a number of inquiries and consultation requests from our clients regarding employee salary increases and bonus payouts for the months to come. In order to provide accurate feedback, we have conducted surveys among 131 of our partner companies operating across all industries, with the objective of acquiring a perspective on current trends.
Average Salary Increment for Employees Across Rank (Including Executives, Managers, and above)
The results showed that 20% of companies have no immediate plans for salary increases at the time of the survey.
Of the 80% of employers who would be making salary increases, most had indicated that they would be looking at a 1.1% to 4% salary increment in 2021. These numbers are similar to those of the previous years surveyed.
Bonus Pay-Out (Excluding Fixed Annual Bonus i.e. AWS)
Following the survey results, 17 companies (13%) did not have bonus pay-outs in 2020.
62% of surveyed companies were planning to provide bonus pay-outs of approximately 1 to 2.9 months’ salary, whereas only 7% will not implement salary increments nor bonuses for all employees in 2020.