EMPLOYEES at the supervisory and professional/technical levels working in the public and education sectors will get the most generous bonuses this year-end, according to participants in the jobsDB “Thailand Bonuses Report” for 2016.
A total of 642 jobsDB member companies participated in surveys conducted last month.
The report reveals that supervisors and first-line managers will get the highest guaranteed bonuses, at two months on average. They are followed closely by middle managers, who will get an average of 1.99 months’ worth of guaranteed bonus pay-outs, professionals with 1.82 months, and top management at 0.96 month.
For performance-based bonuses, professional/technical level employees will get an average of 4.15 months, with supervisors following at 4.12 months, top management at 3.96 months, and middle managers at 3.89 months.
For both guaranteed and performance-based bonuses, the provider of the most pay-outs is clearly the motor-vehicle industry. Companies in this industry will pay an average 2.35 and 4.74 months’ worth of guaranteed and performance-based bonuses respectively.
Companies in financial services are the second-highest guaranteed bonus providers, paying an average of 1.39 months, followed closely by chemicals/petrochemicals/plastic/paper at 1.35 months.
As for performance-based bonuses, financial services also placed second with an average of 3.94 months, while the food and beverage industry has an average of 3.65 months.
A survey was also conducted for Thai employers, revealing that 59 per cent will provide the highest guaranteed bonuses to technical- and professional-level employees. Furthermore, trading and distribution emerged as the top industry providing the highest guaranteed bonuses to professionals, supervisors and middle managers, averaging five months.
Those in top management need not be too disappointed, though, as they will get the most in terms of the number of pay-out months compared with employees in other position levels. While top management will average 1.94 months of guaranteed bonus pay-outs, employees at the technical/professional and supervisory levels will get an average of 1.45 months’ worth, while middle managers get only 1.5 months on average.
Moreover, top industries providing bonuses to top management show some differences from the results for other position levels. The most generous provider of guaranteed bonuses to top management is the electronics industry at an astounding 10 months, followed by trading and distribution at four months, while engineering, wholesale and retail, and manufacturing provide three months.
The same trends are observed in the provision of performance bonuses, although more companies claim they will provide them to employees across all position levels. Seventy-five per cent of firms claim to provide performance-based bonuses to middle and top management, while 77 per cent have performance bonuses for professional- and supervisory-level employees.
“We are releasing this bonuses report to provide both candidates and hirers the information they need,” jobsDB Thailand managing director Noppawan Chulakanista said.
“For companies, we hope they can look deeper into the effectiveness of their bonus schemes, and for job seekers and employees, we hope that our information provides them with guidelines on the current industry standards for bonuses in the industries they are part of.”