Bonuses will be worth 1 month of wages, according to reports
Despite a slight decline, a majority of employers in Taiwan are still planning on extending year-end bonuses to their staff this year, according to reports.
Taiwan News reported a survey from online job bank 1111 that showed 85% of employers will give year-end bonuses, down by three percentage points from the number of employers last year.
The slight dip among the number of employers offering bonuses can be attributed to Taiwan's economic slowdown, according to 1111 public relations manager Tseng Chung-wei, reported Focus Taiwan.
According to the reports, year-end bonuses to be extended this year will be equivalent to an average of 1.32 months of wages.
The most generous industries in terms of bonus include:
- Financial industry (1.93 months of wages)
- IT industry (1.52 months of wages)
- Service sector (1.45 months of wages)
Taiwan's IT industry have systems in place to ensure that employees get year-end bonuses worth one or two months, according to the 1111 bank.
The bonuses, which are included as fixed labour costs in the industry, guarantees IT employees a spot among the most generous industries when it comes to bonuses.
Employers in Taiwan usually provide year-end bonuses before the Lunar New Year holiday, which this year is set between February 8 and February 14, according to Focus Taiwan.
Previously, airline Tigerair Taiwan has announced that it will be handing out 10 months' worth of bonuses to its employees, with some getting as high as 14 months of wages.
