From this number, only 10% ensured that all their employees received their bonuses.
Two in 5 (37%) Hong Kong employers failed to offer their employees with performance-related bonuses in 2017 as only 10% worked to ensure that all employees were sufficiently rewarded with their bonuses, according to survey from jobsDB.
On a positive note, the average size of bonuses for organisations who did dole out bonuses was slightly larger at 1.36 months’ worth of basic salary up from 1.28 months’ worth in 2016.
Workers in the architecture/building/construction sector have one more reason to celebrate as the survey reveals that they’re the industry poised to record the highest performance related bonuses that’s worth 2 months of basic salary.
This is closely followed by bonuses in the financial services sector which is forecasted at 1.9 months’ worth of monthly salary.
Workers in education, accounting/audit/tax services and manufacturing also expect to receive high performance-related bonuses this year.
However, the survey reveals that workers are increasingly cynical about their employment outlook as only 69.1% of employees expect pay hikes this year, down from 90.6% in 2015 for the third year in a row.
“Whilst there is a slight economic growth this year, companies who are planning to lower the number of pay rises or bonuses they award run the risk of alienating employees. Those in junior, mid-level or frontline positions in particular are likely to feel negatively towards employers that they see gaining in revenue without sharing the rewards,” said Isaac Shao, Country Manager of Jobs DB Hong Kong Limited.
Do you know more about this story? Contact us anonymously through this link.