The last time I was in Bubba Gump, Greenbelt was (some) 10 years ago. I was a fresh grad and ready to face the corporate world (at that time I didn’t need to worry about paying for my dinner and meals) . After so many years, I was back in Bubba Gump for an interesting event by Jobstreet.com – we talked about Bonuses!
Jobstreet, leading online job site, conducted a survey and study to determine which among the industries provide good bonuses for its employees. The study was conducted on September 30 to October 15, and was participated by 143 companies from different industries and 1,260 job applicants and employees.
First, let’s differentiate guaranteed and non-guaranteed bonuses. Guaranteed Bonuses are those provided by companies (on top of the 13th month pay which is mandated by law). These can be the 14th month pay, or bonuses for four months or more. Non-guaranteed Bonuses are performance-based bonuses (example, sales and incentives).
Click Read More to know which industries are on top (and on the bottom list)…
The study showed that there is a gap between perceptions of employers and employees in the matter of how companies fare with the amount of bonuses they provide in comparison to others. Employees (56%) feel that they are not getting enough, while companies (46%) feel that they are at par in the industry.
There is also a connection between schedule of release of the bonuses (which is usually in November and early December) and the months when companies experience the most resignations. I should know because I have heard previous co-workers who schedule their resignation after receiving the year-end or month-end bonus.
As for me, I left the company when I felt that I can no longer feel productive. Yes, they held my bonus (I got it after 5 months?) – and yes, I do miss receiving bonuses now! 🙂
Only 22% of employees claim that demotion of their bonus scheme will make them look for other employment opportunities, while 66% said that while bonuses are important, other factors come to play.
As for the employers, only 13% admits that bonus is a major factor in making employees stay with the company, and 56% believes that although bonus is important, there are other factors in employee retention.
For those who are receiving bonuses this month and early next month, what are you planning to do with them?
That’s the next topic I would share with you guys.. stay tuned.