Only 5% of Singaporean bosses eye giving 3 months' worth of bonuses

Majority still looks into just 1 month.

JobStreet.com recently conducted a survey to get feedback from both employers and employees in Singapore on their views with regards to increments and bonus pay-outs for 2014.

The JobStreet.com survey showed that amidst the increasingly strong labour market in Singapore, most employers state that having a competitive remuneration package as the most effective tool for staff retention.

62% acknowledged that salary increments and bonuses are the most effective retention tool. From the survey, it was revealed that the average bonus is expected to be 1 month.

Some employees will be pleased to know that 14% of employers said that they will pay out 2 months and 5% said they will pay 3 months bonuses. The bonus figures exclude the annual wage supplement.