Survey: Bosses don’t think bonuses help workers stay

KUALA LUMPUR, March 3 — Bonuses do not motivate employees to stay with a company, a majority of employers said in a Jobstreet.com survey.

The decision to leave or stay, the recruitment agency said, remained on external factors such as job opportunities and career progression.

In contrast to the sentiment expressed by 58 per cent of employers polled, 72 per cent of employees found bonus payouts to be a vital element in determining their stay with a company.

The survey said that employees would consider leaving if they were offered a better bonus scheme by another employer.

“Employers should not take this response from employees lightly and should continue to work on their employee retention programme.

“However, for employers who give out lower bonuses, they will need to evaluate areas to bridge the gap between candidates who were expecting a higher bonus payout,” Jobstreet.com said in a statement today.

To bridge this gap, the agency suggested better employee benefits programmes, employee engagement and company branding as among others.

The survey, Jobstreet.com said, also showed that 90 per cent of employers were giving out bonuses this year as compared to 89 per cent last year.

“Sixty-seven per cent of employers indicated that they will be giving out a bonus of between one and two months.

“However, 46 per cent of employees were expecting a bigger bonus as they believe they had fulfilled expectations and requirements set by the management in terms of job performance for 2016,” it said.

In terms of salary increment, the survey pointed that there was a gap between employers’ plans and employees’ expectations.

“Fifty-eight per cent of employees were expecting an increase above 6 per cent, however 44 per cent of the employer are giving out increment between three to six per cent,” it said.

Of the more than 890 senior management and executives from all industries and over 950 candidates who took the survey, 90 per cent of employers indicated plans to give out increments this year.

Original source: themalaymail