Higher bonus seen for Malaysian employees this year, shows survey

March 14, 201412:30 pm465 views
Higher bonus seen for Malaysian employees this year, shows survey
Higher bonus seen for Malaysian employees this year, shows survey

Malaysian employees can expect to receive bigger bonuses this year, according to a survey by online recruitment company, JobStreet.com.

In a statement today, JobStreet.com said at least 30% of the firms surveyed said they would give out higher bonuses due to improved business performance.

The company recently conducted a Bonus Payout 2014 Survey to get feedback from both employers and employees with regards to salary increments and bonus payouts in February this year.

JobStreet.com said the average bonus payout expected this year was 1.7 months versus 1.5 months in a survey last year.

It said companies in the electronics, accounting/audit and hospitality sectors said they would pay two-month bonuses, which were just above the average.

The finance, banking and human resources sectors indicated that they would be looking to pay bonuses of four months and above, it said.

JobStreet.com said the response from the employers was in line with the employees’ expectations as 58% of the responded employees expected to receive a bigger bonus this year.

“According to these employees, they believe that they have fulfilled more than their companies’ expectations in terms of their work performances,” it said.

Meanwhile, on salary increment, it said the banking sector came up highest, indicating that it would give 10% increase compared to an average of 5.5% employers were willing to give.

JobStreet.com said the average increment, however, was slightly below employees’ expectations whereby 54% of employees surveyed were expecting a 6% salary increment this year.

However, it said, on a positive note, 32% of employers said in view of the strong employment market they intended to give out higher salary increments, citing staff retention as a key reason.

A total of 3,287 employees and 620 employers took part in the survey.

 

source: themalaysianinsider.com

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