Bonus payments causes over 73% to consider a career change

Gurj Sandhu 24.05.2019

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

  • 73% are more likely to consider a job change
  • 26% received a smaller bonus than expected
  • 28% didn’t see any difference in their bonus payments compared to the previous year

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”.

updated infographic

Gurj Sandhu - R1113687's picture
Managing Director
gsandhu@morganmckinley.com.sg