Job Bonuses Spark Workplace Discontent

With the bonus season now drawing to a close, Robert Walters, the international recruitment consultant, has conducted a worldwide online poll on levels of employee satisfaction at their bonuses. Robert Walters had previously warned that staff would leave in their droves if bonuses were not up standard.

The latest web poll on bonuses bears this out. Out of almost 500 people who took part in the global poll, only 8% said they were very satisfied and only 20% said they were satisfied their bonuses. By contrast, 35% expressed dissatisfaction and 37% of respondents, the largest contingent, said they were very dissatisfied with their bonuses.

These findings provide a dose of reality to the emotive, headline-grabbing seven figure bonuses that have been widely reported. The reality is that such bonuses are the preserve of a very elite group of financiers. At less rarified levels, it is clear that rewards have not met expectations. It is likely that many professionals, who believe they have worked hard, will feel they can do better elsewhere.

All of this confirms the overall perception that recruitment activity is set to continue unabated. Recent financial results reported by many recruitment firms demonstrate a huge worldwide skills shortage. The wave of departures triggered by disappointment at bonuses will only create more gaps that need to be filled, which will in turn lead to higher levels of recruitment activity.

Similar sentiments are also reflected in the local responses. Mark Ellwood, Managing Director of Robert Walters Singapore comments:

'With the job market in Singapore particularly buoyant at the moment, employees' expectations are riding high. It's no surprise then that the majority of respondents from Singapore felt unsatisfied (45.88%) or very unsatisfied (30.59%) with their bonus. Less than 6% (5.88%) expressed delight with their bonus and 17.65% thought their bonus was in line with their expectations. Each year, once bonuses have been paid we see people moving jobs and we would expect this trend to increase this year in what is considered a hot job market, especially if the majority of employees feel they haven't been paid the bonuses they think they are worth.'

The overall response to the question "How satisfied were you with your bonus this year?" was as follows:

Very satisfied 38 responses (8.09%)
Satisfied 93 responses (19.79%)
Unsatisfied 163 responses (34.68%)
Very unsatisfied 176 responses (37.45%)

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