Some employees have a little extra cash in bonus payment as 2022 proved to be a better year for many industries compared to 2020 and 2021.
Free Industrial Zone Penang Companies Association president Dr David Lacey said bonuses were given based on business performance of the previous year.However, he said some companies could have been burdened by the rise in shipping and logistics costs globally.“It remains to be seen if the changes really address worker shortage, which will affect output,” he added.
“Because of cash flow and collection problems, some companies might have to give a lower sum of bonus.“If there is cash flow or collection issues, employers might consider staggering bonuses in two to three payments and add it to the payroll to convince workers to stay with the organisation,” said Kwan.
A few small business owners said they had switched from issuing bonuses to giving ex gratia payments to staff who showed dedication during the hard times brought about by the Covid-19 pandemic.
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