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BONUS EXPECTATIONS REMAIN HIGH
Hong Kong employees maintain high bonus expectations, with almost one in two expecting a big bonus, according to a survey by specialist recruiter Hays.
When asked what sort of bonus they are expecting, 44% said they expected a big one and 23% an average amount; 33% of those surveyed do not receive a bonus.
“Clearly employees are not worried by speculation that bonuses will not be as high as previous years,” says Emma Charnock, Regional Director of Hays in Hong Kong.
“This optimism indicates that candidates are, for the most part, ignoring anxious observations about the financial services market. Perhaps this is because business is booming, investment continues into the local market and development across the border is active.
“As a result recruitment activity is high, skills are in demand and the labour market continues to provide solid career opportunities. Employers have also indicated to us that they will create new positions to enable planned expansions, which will tighten the already existing demand for suitable skills.
“While expectations do sometimes get ahead of reality, employers for the most part are upbeat and so their bonus expectations, particularly for the top 10% of employees, are also expected to be high. For the remainder, while bonuses may not be as great as previous years, this clearly isn’t dampening candidate’s expectation that there will still be high bonuses on offer.
“We do however expect increased movement from candidates who receive lower than expected bonuses, in addition to the traditional injection of candidates following the awarding of bonuses,” Emma said.
The full survey results were:
What sort of bonus are you expecting this year?
None - I don"t receive a bonus: 33.33%
A big one! 43.59%
An average amount: 23.08%
156 people in Hong Kong completed the survey, which concluded on 30 June 2008.
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