We have surveyed 1246 Singapore based professionals across our specialised markets about their bonus payments for 2018 - 2019.
One of the key findings of our study is that employers should really be aware of when it comes to retaining talent, is the fact that over 73% of professionals are now more likely to consider a career change motivated by their bonus payments.
KEY FINDINGS OF THE SINGAPORE BONUS SATISFACTION SURVEY
When asked whether a bonus was received for 2018/2019, the results show that the majority (77%) received a bonus payment amounting to one to more than six months of their monthly salary. Only a small percentage did not receive any bonus at all, which is due to their industry and/ or role not being eligible for a bonus payout.
However, 34% of those who did receive a bonus payment expected a higher payout, 30% received what they had expected and 11% in fact received a higher bonus payment than anticipated.
Compared to the previous year, the majority of respondents (28%) did not see a difference in their bonus payments, 24% received a higher bonus payment and 26% received a lower bonus payment.
The most interesting finding for us was that over 73% are now “more likely to consider a job change” based on how satisfied they were with their bonus payments while only 20% of those who did receive a bonus payment, are considering staying in their current roles.
When asked whether they think there are plenty of jobs in their field, respondents had a positive outlook with 37% saying they felt “positive” and 17% saying they felt “very positive”.