Survey: Auto firms pay highest bonuses

Companies in the automotive and financial services industries continued to pay the highest bonus rates among all industries in Thailand this year, according to a survey by a recruitment company

JobsDB Recruitment Thailand Ltd, which conducted the poll on 642 of its member job seekers in November, found automotive companies paid guaranteed bonuses equivalent to 2.35 months of salaries and performance-based bonuses at 4.74 months on average. It also ranked first in last year's survey.

Trailing them in terms of guaranteed bonuses were financial services companies, which paid 1.39 months, followed by firms in the chemicals, petrochemical plastic and paper industries (1.35 months).

By position, employees at the operational and supervisor levels enjoyed the highest bonus rates, at 4.15 months and 4.12 months respectively, said Noppawan Chulakanista, deputy general manager at JobsDB Recruitment Thailand.

High-ranking executives were not doing bad either with 3.96 months, while mid-level executives got 3.89 months.

For guaranteed bonuses, supervisors enjoyed the highest rates (2 months), followed by mid-level executives (1.99 months), operational employees (1.82 months) and high-level executives (0.96 months), she said.

A survey on employers found 59% of the operators promised guaranteed bonuses for its operational employees.

"But high-ranking executives shouldn't be disappointed. While most companies did not set guaranteed bonuses for top management, they enjoyed the highest bonus rates overall," she said.

High-ranking executives got 1.94 months on average while operational employees and supervisors got 1.45 months and mid-level enjoyed 1.5 months, she explained.

The survey also found links between employees' work behaviours and their bonuses.

Workers who prefer high-risk jobs, like to overcome challenges and think they work well in multiple capacities were better rewarded.

A third (31%) of the employee respondents invested the money they received while 29% added to their savings. A quarter used it to repay credit card debts and other debts while 11% bought gifts for themselves and their loved ones.

However, bonuses are not the only factor attracting employees. JobsDB’s survey done from May to June this year and ranking Thailand’s top 10 aspired companies found PTT Plc, a state-owned oil and gas company, led, followed by Siam Cement Group and Toyota Thailand, Google, Honda, Advanced Info Service (AIS), Unilever, Chevron, Total Access Communications (DTAC) and Nestle.