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97% of Singapore employers demand better performance from employees
But average bonus levels stayed low.
According to a new survey conducted by global professional services company Towers Watson, in today’s volatile global economy, where organisations face intense pressure to rein in cost while driving performance, it is not surprising that organisations are expecting higher levels of performance from their employees.
However, the survey revealed that rewards have not kept pace with higher performance expectations – with 96% of employers indicating that individual performance expectations have increased or stayed the same but the average bonus level – as a percentage of on-target – was at 79% for the most recently completed fiscal year (2011) and is projected to drop to 76% for the current fiscal year.
The disparity is greater among companies from Singapore, with 97% of employers indicating that individual performance expectations have increased or stayed the same but the average bonus level – as a percentage of on-target – was at 72% for the most recently completed fiscal year and is projected to remain at this level for the current fiscal year.
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