More than 88 percent of employers in Taiwan are planning to give year-end bonuses, online job bank yes123 (yes123求職網) said on Tuesday.
Citing a survey conducted between Dec. 1 and 14, the job bank said 88.7 percent of the 1,028 employers polled said they would issue year-end bonuses, compared with 79.8 percent in a similar poll conducted last year.
The average year-end bonus is equal to 1.32 times an employee’s monthly salary — the second-highest in six years — only trailing 1.35 months in a poll conducted in 2018, the job bank said.
Photo: Tyrone Siu, Reuters
The expected increase in the average year-end bonuses showed that many firms have climbed out of the shadow cast by the COVID-19 pandemic and appeared more willing to give bonuses to retain employees, yes123 spokesman Bingo Yang (楊宗斌) said.
The latest survey showed that the domestic-oriented service sector seemed to be more generous in giving out bonuses, while the export-oriented manufacturing sector appeared cautious about doling out the money as their operations were hurt by a weaker global economy, Yang said.
The financial, insurance and accounting sector in the service industry remained No. 1 for bonuses among sectors, as it is planning to give an average equivalent of 2.75 months’ salary as year-end bonuses, up from 2.56 months a year earlier, the survey showed.
It is the 11th consecutive year that financial firms have given out the highest year-end bonuses in Taiwan, the job bank said.
The transportation, warehousing and logistics sector, also in the service industry, came in second, with planned bonuses equivalent to 2.11 months’ salary, up from 1.75 months a year earlier, the survey found.
The information technology sector in the manufacturing industry took the third spot, as it is planning to issue year-end bonuses equivalent to 1.8 months’ salary on average, down from 1.89 months a year earlier, followed by the medical care and biotech industry — 1.56 months’ salary vs 1.67 months’ last year — and old economy industries — 1.48 months vs 1.6 months, the job bank said.
The wholesale and retail sector in the service industry is planning to give year-end bonuses equivalent to 1.4 months’ salary on average, up from one month a year earlier, while an average of year-end bonuses equivalent to 1.33 months’ salary is planned by the lodging and food and beverage sectors, also in the service industry, up from 0.8 months a year earlier, it added.
The mass media and public relations industry sat at the bottom of the rankings, as it is planning to give bonuses equivalent to only 0.5 months of wages, the survey showed.
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