Bonuses in private sector would be lower than that for 2011 says SNEF President
®Copyright MediaCorp
Private sector bonuses for 2012 are expected to be lower than that given out last year says President of the Singapore National Employers Federation.
Speaking to MediaCorp on the sidelines of a company opening this morning, Mr Lee says there are several forces at play.
He says they include Singapore's GDP growth which is expected at the lower end of the 1.5 to 2.5 percent range and much would also depend on the performance of the different sectors.
"Most of the export sectors are not doing very well. Some of the domestic sectors like construction and healthcare are still doing ok. So I think the demand for labour, the low GDP growth and the negative productivity are the forces that would decide this year's bonus. The private sector the bonus should depend on their annual result and if some companies do well they should reward their workers fairly"
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