84% of businesses to hand out year-end bonuses this Chinese New Year

January 21, 2005

This Chinese New Year 83.55% of Taiwanese businesses will be handing out traditional year-end bonuses, according to a survey conducted by 9999 Pan Asia Human Resource Bank, a local online job search service. The survey of 1,021 companies across 21 business categories indicates that this year's bonuses will average 1.53 months worth of monthly salaries.

Year-end bonuses in Taiwan are measured in multiples of an employee's monthly salary, with a one-month bonus equivalent to one month's salary. The number of months of annual bonus a company distributes reflects its overall performance for the year. For instance, that this year's average bonus is higher that the 1.46-month average last Chinese New Year corresponds with the generally improving economic climate in Taiwan over the last year.

When asked about profit performance this year, 46.91% of businesses reported profit growth, 21.45% said profits stayed level with last year's, while 25.76% acknowledged lower profits.

The financial sector, which the survey reveals will present an average of 2.59 months in bonuses, is the business sector that will award the highest year-end bonuses this year. Employees in the travel and tourism industry, on the other hand, will enjoy the largest increase in their annual bonuses this year. This sector, which took a beating on account of the SARS epidemic in 2003, is recovering and will issue bonuses of 1.28 months this year, up from 1.07 months in 2003.

Following the financial sector, the industries awarding the highest year-end bonuses are in order the import-export sector, transportation and aviation sector, industrial services mediation businesses, and steel and metals industry.

Of the 21 business sectors in the survey, the eating and drinking establishment/audio-visual entertainment sector has the dubious honor of dispensing the lowest average year-end bonus this year. The publishing sector ranked 20th, while the retail department store and mass retailer sector ranked 19th.

(Central News Agency, United Daily News)

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