Sheng Siong Staff Can get Annual Bonus up to more than 15.5 months for 2020
Great news for Sheng Siong staff this year
The local supermarket chain Sheng Siong has reported that they have performed tremendously well for the turbulent year of 2020 compared to previous years when their staff are getting a windfall. As the total annual bonus of each employee will suppose to receive a range from 4.7 months for part time staff to around 15.5 months for employee holding the position as assistant manager and above.
Their staff is getting large bonus due to the overwhelming demands in the past Covid-19 pandemic
This is due to the 20 per cent of the Sheng Siong Group’s profit before tax as variable bonus, on top of the 13th month payment (AWS, also known as Annual Wage Supplement). Where each staff can receive their total bonus depending on their position in the company.
- 4.68 months for part-time staff,
- 8.36 months for general staff,
- 12.04 months for staff who hold a position ranging from Assistant Supervisor to Senior Executive, and
- 15.72 months for staff who hold the position of Assistant Manager and above
As according to Sheng Siong’s latest financial update on their website where the company’s profit grew about 54.4 per cent on a year to year basic to $31.8 million for the third quarter of 2020. Where the revenue for the three month increased by 28.9 per cent to $327.3 million which is mainly driven by the strong demand during Covid-19 pandemic.
The official announcement from Sheng Siong website