Fri, Dec 23, 2005 - Page 11 News List

Survey says nearly all local businesses will award bonuses


This year, 90 percent of local businesses will award their staff year-end bonuses, according to a survey released by the 104 Job Bank (104人力銀行) yesterday. The value of these bonuses will average 1.61 months' salary, which is not much different from last year, the poll showed.

The sector providing the highest bonuses for staff remains the finance, securities and insurance sector, with an average payment of 2.7 months' salary, the poll said. This is followed by the import/export sector with 1.58 months. The construction and real estate industry came in third with 1.53 months.

Bonuses in "traditional industries" have declined compared with last year and came in fifth place with just 1.51 months, the job bank said in a statement.

According to Chiu Wen-jen (邱文仁), marketing manager for 104 Job Bank, the main difference between this year and the past four years is that the expectations of workers are much higher. Normally, the bonus expectations of office workers have been rather pessimistic. This year, while businesses have suggested that 1.61 months will be the average, the average expectation of office workers is a somewhat unrealistic 1.86 months.

Chiu said that many people are worried about the impact the new labor pension system may have on the awarding of bonuses, even though 72.2 percent of businesses said that it would not affect them.

She suggested that the impact would be seen in pay raises for the new year, and only 24 percent of businesses said they would reduce bonuses as a result of the new pension system.

Chiu said that a performance-based award scheme is favored.

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