Results of Survey on Salary Increases and Bonuses
We are pleased to announce that we have completed the results of the salary increase and bonus survey.
Thank you very much for taking time out of your busy schedules to complete this survey.
Average salary increment for employees
(Staff level & Managers and above)
This survey has been conducted among 131 companies across all the industries.
From the result we can see 20% of companies have no plan to make salary increment this year.
Most of companies which have replied to make salary increment for next year will increase the percentage from 1.1% to 4% which is similar to previous years.
We have realized that employees below managerial level will receive higher percentage of salary increment.
Bonus Payout (excluding AWS)
Based on the result that 17 companies (13 %) will not pay bonus this year and this is lower than the overall percentage of “No salary increment “of 20 % on the above.
62 % of companies are going to have 1 to 2.9 month bonus and many of other companies are planning to make certain amount of bonus.
Only 9 companies (7%) will not have salary increment nor bonus for all employees this year.
Bonus payout month(s)
Most of companies pay bonus in December.
We have realized that from Dec to Jan is the period that largest number of job seekers are asking for advice about job market.
It reflects on “ Bonus has received and it is time to look for new opportunity” .
To prevent staff from resigning during the period after bonus, employers should arrange opportunity to communicate with employees.
Review their responsibility, title and inform employees clearly of company’s expectation to them.
On the other hand, it is the time for talented people to start to move out which can be an opportunity to attract talents.
If you have any questions or concerns about the survey, please contact us at email@example.com or our consultants.
From 28 Dec, Singapore will move to phase 3 of safe opening. However, COVID-19 is still spreading worldwide.
So please continue to take care of yourselves and adopt safe distancing measures.
Thank you very much for your continued support.
JAC Recruitment Pte. Ltd. (EA License: 90C3026)
TEL：+65 6224 6864