Performance Bonus System for Singapore Companies

last SG · 2006-04-13T15:24:40+00:00

Normally I have lunch or whatsoever, people pay for me. I don't practise having dinner even with clients. So. put it in your notebook, I owe you one lunch th...

king108 SG

Laughing I fully agreed that Performance bonuses is a very good system.

Workers will be encouraged to work hard and perform for the company. The end result will be better return for the company.

Personal view is that CEO and top management should be excused from the performance bonus system.

Only the middle management and the non-executive be appraised accordingly and given their respective performance bonuses. Laughing

king108 SG

Laughing It seen that everyone is happy with the performance bonuses.

zaxis SG

how come Singapore people happy with 13 month?

let see?
monthly salary S$ 1000
aka weekly S$ 250

one year 12 month = S$ 12,000.-

one year 52 week = S$ 13,000 -

king108 SG

13th month is a fixed allowance. Cannot be treated as bonus. Laughing

dork3d SG

Me's not sure but my company has the following:

AWS - standard 1 month basic pay (end of the year)
Individual Performance Bonus - Ranging from 0.25-1.5 month of basic pay (mid year)
Group Performance Bonus - Ranging from 0.5-1 month of basic pay (around July)
Variable Bonus - Ranging from 0.25-1 month of basic pay, but subjected to appraisal (around July)

king108 SG

Laughing Who got the highest and who got the lowest. Can reveal?

dork3d SG

My manager got the highest payout, me was the second, and the lowest were all the junior staff in the company.

Even my assistant manager got the mid-range payout.

king108 SG

Your company consisted of 5 persons only? Laughing or you the CEO

dork3d SG

Nope, my company has around 180 fulltime staff and 300 plus parttime staff.

king108 SG

Laughing you belonged to higher management or middle management then I supposed that your companies is doing sales related business, am I right?

dork3d SG

Me just an executive, joined the company in 2004 and got promoted to Management Trainee in Jan 2005, so kind of like from non-management to mid-management now.

And my company is not in the sales-related industries, it's an attractions service provider company.

king108 SG

Laughing You never mentioned anything about Senior Manager, Vice President, CEO, MD's performance bonuses. They getting nothing?

dork3d SG

My manager is the SM, how much my GM got not sure.

My company's hierachy:

GM
HODs (including my SM)
AM
Exec
Sup
Junior Staff and Admin Staff

king108 SG

Laughing No offence
My previous company.
CEO
CFO
SVP
VP
SMgr
Mgr
Engr
Non exec.

dork3d SG

No problem lah! Every company's structure is different lah.. Wink

king108 SG

Laughing My previous company 200+ all fulltime employees. + few temp staffs.

CEO - 1
CFO - 1
SVP - 1
VP - 4
Sr Manager - 9
Manager - 5
Engineer / Exec - 6 + others (Total about 40)

Non Exec - about 200

My bonuses is around middle upper. (Average (Highest upto 4-6 months)

dork3d SG

Very much like a ST company structure if me's not wrong.

king108 SG

No ST companies, or any manufacturing companies etc. You will be very much surprised when you know this company. It's linked to one of those that a lot of people is complaining.. Laughing

dork3d SG

Okie, my company still can't reach your scale yet cos it's a relatively small company lah.. Core business still in attractions management.. Mr. Green

king108 SG

Laughing Basically, your salary scheme is definitely no match to my previous company.

But the point that I wanted to bring out on Performance Bonus System which is good and how it's should be implemented instead of the current practise by the management.

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