Sheng Siong's bumper bonuses for employees 'not the norm'

Many firms likely to be more prudent in years ahead amid uncertain outlook as a result of pandemic, analysts say

Analysts contacted said they have not come across other employers paying out bonuses as generous as Sheng Siong during the coronavirus pandemic, with one saying that even if there were other companies that did, they were in the minority and would lik
Analysts contacted said they have not come across other employers paying out bonuses as generous as Sheng Siong during the coronavirus pandemic, with one saying that even if there were other companies that did, they were in the minority and would likely reward only a small number of exceptional employees. ST PHOTO: IVAN KWEE

Supermarket operator Sheng Siong offering some employees up to 16 months' bonus, with eight months' bonus for most staff in general, appears to be an exception rather than the norm, observers noted.

Many firms are likely to be more prudent in the next few years, amid a highly uncertain economic outlook caused by the Covid-19 crisis.

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A version of this article appeared in the print edition of The Straits Times on February 09, 2021, with the headline 'Sheng Siong's bumper bonuses for employees 'not the norm''. Subscribe