HK Firms Giving Bonuses Drop in Number

The number of Hong Kong employers offering guaranteed bonus plans have dropped sharply to 46.4% this year versus 89.7% in 2001, reports the South China Morning Post.


Citing data compiled by the Hong Kong Institute of Human Resource Management, the Post notes that only 36.9% of employees enjoyed bonuses this year compared to 73.1% in 2001.


"Along with rent, the staff payroll is one of the biggest overheads for a company, and many have abandoned the practice of guaranteeing employees a bonus," writes the Post.


Meanwhile, firms are planning a 3.3% pay hike for employees in 2011, up from 1.9% this year, when construction, banking and insurance companies registered the highest pay raises.




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