Employees to receive $1,000 each, as well as salary increase
McDonald's Hong Kong is giving out a total of HK$10 million in bonuses to employees to mark the Lunar New Year and the company's golden jubilee, according to reports.
Employees will be given HK$1,000 each in red packets, or "Lai see," as a celebratory gift, The Standard reported.
Randy Lai Wai-sze, Chief Executive Officer of McDonald's Hong Kong, said those who will receive the bonuses include staff on continuous contracts, store management team members, office workers, and the management staff.
The company is also granting employees an increase starting this month, with the amount depending on work performance, according to the report.
The increase and bonuses come as Hong Kong marks the Lunar New Year on January 29, and as McDonald's Hong Kong celebrates its 50th year.
Bonuses are additional incentives added to an employee's compensation package, usually to reward them and celebrate a milestone with employees, according to Indeed.
In Hong Kong, research from Standard Chartered Bank Ltd. found that nearly 60% of employees are expecting a year-end bonus, with 44% anticipating that it will be worth at least a month's salary or more.
Meanwhile, data from the Hong Kong Institute of Human Resource Management last year found that 37.2% of employers have guaranteed bonus schemes for staff, while 83.9% have non-guaranteed bonuses planned.