Singapore – Eligible Sheng Siong employees will receive bonuses of up to 16 months, as the supermarket chain has performed “tremendously well” in 2020.
A Sheng Siong internal memo dated Jan 21 seen by todayonline.com announced that eligible staff members are entitled to 20 per cent of the company’s profits before tax as a variable bonus.
According to the report, some of the employees had already received the amount plus the monthly bonus from Sep to Dec 2020. The remaining bonus will be reflected on eligible employee payslips on Feb and distributed early Mar 2021.
The memo reads, “After going through a turbulent year in 2020, our management is pleased to announce that we have performed tremendously well as compared to previous years. Hence, our variable bonus (inclusive of monthly bonus and the pre-distributed bonus from Sep to Dec 2020) has increased. As promised by our management, all eligible employees are entitled to 20 per cent of our group’s profit before tax as a variable bonus.”
The memo also provided a breakdown of who will receive what bonus rates such as part-time workers receiving 4.68 months’ bonus, general staff members 8.36 months’ bonus and those at the assistant supervisor to senior executive levels about a year’s bonus. The previous year bonuses were 3.36 months, 5.73 months and 8.0 months, respectively.
Employees at the assistant managerial level and above are set to receive 15.72 months’ bonus, an increase from the 10.45 months’ bonus the previous year.
Supermarkets in general performed well in 2020, especially during the Circuit Breaker period in Singapore between April and May. During this time, the public was urged to stay home while dining out was prohibited.
Supermarkets saw a 74.6 per cent year-on-year increase in sales in April 2020 amid all other retail businesses experiencing a decline, noted data from the Department of Statistics.
The latest data released by the Department of Statistics, dated Jan 5, 2021, show supermarkets and hypermarkets continuing to perform well, with a 22.6 per cent increase in sales on a year-on-year basis.
Furniture and household equipment, computer and telecommunications equipment, motor vehicles and recreational goods were the other sectors that saw an increase in sales on a year-on-year basis while other retail sales saw a decline.
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