Performance Bonus System for Singapore Companies
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Originally posted by dork3d: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)
Who got the highest and who got the lowest. Can reveal? -
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. -
Your company consisted of 5 persons only?Originally posted by dork3d: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. or you the CEO -
Nope, my company has around 180 fulltime staff and 300 plus parttime staff.Originally posted by king108:Your company consisted of 5 persons only? or you the CEO -
Originally posted by dork3d:Nope, my company has around 180 fulltime staff and 300 plus parttime staff. you belonged to higher management or middle management then I supposed that your companies is doing sales related business, am I right?
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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.Originally posted by king108: you belonged to higher management or middle management then I supposed that your companies is doing sales related business, am I right?
And my company is not in the sales-related industries, it's an attractions service provider company. -
Originally posted by dork3d: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. You never mentioned anything about Senior Manager, Vice President, CEO, MD's performance bonuses. They getting nothing? -
My manager is the SM, how much my GM got not sure.Originally posted by king108: You never mentioned anything about Senior Manager, Vice President, CEO, MD's performance bonuses. They getting nothing?
My company's hierachy:
GM
HODs (including my SM)
AM
Exec
Sup
Junior Staff and Admin Staff -
Originally posted by dork3d: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 No offence
My previous company.
CEO
CFO
SVP
VP
SMgr
Mgr
Engr
Non exec. -
No problem lah! Every company's structure is different lah..Originally posted by king108: No offence
My previous company.
CEO
CFO
SVP
VP
SMgr
Mgr
Engr
Non exec.
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Originally posted by dork3d:My manager is the SM, how much my GM got not sure.
My company's hierachy:
GM - 1
HODs (including my SM) - 6
AM - 6
Exec - 7
Sup - 8
Junior Staff - 138
and Admin Staff - 41 -
Originally posted by dork3d: 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) -
Very much like a ST company structure if me's not wrong.Originally posted by king108: 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) -
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..Originally posted by dork3d:Very much like a ST company structure if me's not wrong. -
Okie, my company still can't reach your scale yet cos it's a relatively small company lah.. Core business still in attractions management..Originally posted by king108: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.. 
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Originally posted by dork3d:Okie, my company still can't reach your scale yet cos it's a relatively small company lah.. Core business still in attractions management.. 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. -
No denial about having a Performance Bonus Scheme or System, like what my company has. Fundamentally it shifts away from non-rewarding methods to individual-based method that recognises individuals as they perform.Originally posted by king108: 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.
Hope more companies can look into the system, which can translates into greater reapings. -
Firstly, we must agreed that the Performance Bonuses System and Flexible Wages System are good system introduced by our government.Originally posted by dork3d:No denial about having a Performance Bonus Scheme or System, like what my company has. Fundamentally it shifts away from non-rewarding methods to individual-based method that recognises individuals as they perform.
Hope more companies can look into the system, which can translates into greater reapings. We come into the structure of any normal companies (discarded those non conformed) .
Assume 85 % will be likely to be formed by non executives
Assume 10 % lower and middle management
Assume 5% top management.
I think will be very close, anyway this is only an practicable example.
The non executives and few lower management will be likely to be the ground peoples doing most of the daily work. (can be long hours, say hotel will be 8 - 12 hours depending). Hence, if you see a hotel employee with face "black black". that does not say that she is non performer, maybe she just overworked and not enough rest.
While a top management that smile to you is a performer, maybe his job is just to smile. (who knows)
Middle management will likely to be involved in planning with top management running the company.
Look at my earlier posting, you will noticed that I never included the top management inside this performance bonus scheme.
Saying a company with this kind of system (typical 6 month bonus type)
Outstanding - 5% - 6 months
Very Good - 15% - 4 months
Good - 50% - 2 months
Satisfactory - 30% - 1 month
The executive and non executive can be separated. (Look fair to all, also can mix) Remember to exclude the top management.
The middle exec to the lowest of non executives can be accessed by their supervisors and appraised accordingly (hopefully fairness)..
The top management will just simply have to follow the lowest 30% of the system. Instead of the current practise of giving themselves high performance bonus themselve.
Why, it's no the fault of those that falled inside the satisfactory performance level. It can be stated that the top management had failed to guide their staff's performance to improve only!! If their lowest performance staff had improved together with company's financial performance, the amount payable can be adjusted up for them. Wouldn't you think this is a better and fairer system for the employee.. -
I would welcome and appreciate anyone to voice if they don't agree on my solution on the behalf on the employee.
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Now I know who was the minister that had introduced this performance wages packages. Why it was introduced..really pull us thru the hard time.
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The companies got ultimate right to award zero performance wages package to the lowest 10 percent. This will serve to encourage them to improve their performance in the future. Sacking must always be the last resort unless cannot be prevented.
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I found myself sweating, toiled, blooded on this topics....
Just curious, what is the general role of any CEO to justify themselves with respectable performance wages package I studied no much..can any HR enlighten me.. -
The CEO is normally a decision maker and answerable for all decision and directions made for a company, thus most of the time the CEO thinks that they should have the biggest performance packages most of the times...Originally posted by king108: I found myself sweating, toiled, blooded on this topics....
Just curious, what is the general role of any CEO to justify themselves with respectable performance wages package I studied no much..can any HR enlighten me.. -
Originally posted by dork3d:The CEO is normally a decision maker and answerable for all decision and directions made for a company, thus most of the time the CEO thinks that they should have the biggest performance packages most of the times... Are you saying CEO must know every decision make within the company?
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He should, why not? Afterall he gets the fattest package and wage, let him shoulder all the answers should anything crops up...Originally posted by king108: Are you saying CEO must know every decision make within the company?