Over 80% will Receive Bonuses

MORE than 80% of employees on the Chinese mainland can look forward to year-end bonuses for 2009 due to a recovering economy and most companies have positive expectations for 2010, a survey revealed.

The survey, conducted by Hudson, a leading provider of human resources services, found that 84% of the firms across all sectors on the mainland plan to pay discretionary bonuses for 2009 to their employees compared to 88% in 2008 who said bonuses would be paid.

Among those who are planning to pay bonuses, about 55% said the bonus will be over 10% of an employee's annual salary while 11% said they will pay more than 20%.

About 90% of consumer-related companies will pay bonuses, while 91% in the banking and financial services sector are slated to pay.

Asked about the outlook for their companies in 2010, 62% of them forecast good performance, compared with 44% last year. A further 7%, compared to 4% a year earlier, said it will be excellent. Only 1% expected their companies to post a poor performance.

The survey, which was carried out in November, covered 1,500 decision makers in job hirings from multinational organizations of all sizes on the Chinese mainland (Shanghai and Beijing), Hong Kong and Singapore.

Reference: Shanghai Daily