Earlier in December, the Public Service Division announced that it will "exercise restraint" for bonus payments this year.

Due to an uncertain economic outlook, civil servants below superscale grade can expect to receive a 0.1 month bonus and an additional one-off lump sump payment of S$250 to S$1,500.

Senior civil servants will receive a one-off payment of S$400, in place of the Annual Variable Component (AVC).

Private sector bonuses to follow suit?

After PSD's announcement in December, CNA reported on Dec. 6 that the private sector would also likely see a decline in bonuses.

The analysts that spoke to CNA estimated that full-year bonuses for private sector companies should lie between 1.5 to 2.3 months of salary.

Employees in financial services were reportedly more likely to receive above average bonuses.

Those working in multinational corporations (MNCs) were also likely to receive higher disbursement compared to small and medium enterprises (SMEs).

1-2 months' bonus in general

In a more recent report on Dec. 23, The Straits Times reported that private sector company employees can expect up to one to two months' bonus in general, according to human resource experts.

ST states that this would be largely in line with or slightly lower than previous years.

However, several recruiters and human resource consultancies they spoke to said that certain sectors, such as finance, healthcare and information technology, may see higher bonuses than average.

Ultimately, however, analysts said that the bonus amount will still depend on each company's performance.

NWC recommendations

ST quoted the Singapore National Employers Federation (SNEF)'s media statement, stating that the performance of difference sectors have remained varied in 2019.

Businesses in manufacturing and wholesale and retail trade have faced economic contractions. The finance and insurance, as well as information and communications sector are expected to remain healthy.

Acknowledging that some employers have enquired about the "appropriate approach for the private sector" given the PSD announcement, SNEF urged employers to be guided by the National Wages Council's recommendations when deciding on bonuses.

The National Wages Council had issued recommendations in May, involving built-in wage increases and variable payments commensurate with the employers’ performance and employees’ contributions.

Top photo via Unsplash

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