Employees see bonuses, pay hikes as the economy recovers

SINGAPORE: The first quarter of the year has seen a majority of the country’s professionals expecting to receive bonuses and salary increases, based on the findings of the 2022 Salary and Bonus Expectations Survey by Randstad, an HR consultancy group.

50% of the employee respondents said that they expected to receive a bonus this year, and at least 80% had already received a positive salary adjustment, as of mid-March.

Out of the respondents who said that they expected to receive a bonus, 65% said that they were satisfied enough to stay with the company for the next half-year. 43% of them were expecting to receive a bonus averaging between one and three months' worth of salary, in addition to a 13th-month bonus.

The survey also found that only one in five respondents were not expecting a salary increase, while 9% of respondents were expecting an increase of more than 20%.

Jaya Dass, Managing Director of Singapore and Malaysia at Randstad said, “Talent with in-demand skills in this candidate-short market have a strong negotiating power to request higher salaries and will likely look for a new employer if their current boss is unable to meet their expectations.”

The survey was conducted in Singapore in February 2022 with responses from 300 professional employees.

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