Salary Increase. If the boss is not giving, are you leaving?
On a morning many weeks back, I was listening to the radio when the issue of bonus came up. After working so hard for 2021, surely people would be expecting something from their bosses? Bonus is all about the past performance and results while salary increment is for future expected performance. Let’s talk about bonus first. The DJ asked for comments from the listeners.
Most callers who called in / left a message was saying that they do not expect a bonus because their company management said Covid-19 was a big issue. Thus, business condition was tough. One called even said that bonus has been missing since 2020 and expects 2021 to be the same. One called and said that the business condition seems to be okay but somehow the management said there would be no bonus.
Actually, it’s too late to do anything if the bonus is indeed not given. However, what about salary increment then?
Article in thesundaily.my In a survey by Mercer (Total Remuneration Survey) across 544 organisations of which 97% are multi-national companies (MNCs), the companies have forecasted a median of 4.5% increase in overall salaries for 2022. These MNCs are from 10 different industries.
This 4.5% is below Asia-Pacific average of 5.4%. For variable bonuses, employers in Malaysia will be giving out an average bonus payout to 2.2 months for 2021. This is very slightly higher than 2.1 months in 2020. Across the region, Pakistan (9%) reported the highest salary increase while Japan’s 2022 estimate is the lowest at 2.3%. Please do read here for the full details: Article in thesundaily.my
What if salary increment is not given?
If salary increment is not given, perhaps it is a good time to think and decide if the current company is indeed the best place to stay. The reason is a simple one. If there are so many other companies which are giving out increments, then it may be wiser to move there instead. As for the number of jobs available, well as at today 24th December 2021, the below is a screenshot of jobs available in JobStreet.com There are a total of 76,394 jobs.
What if we could not get another job and has to continue with our current job?
Then it is time to really understand why is this happening. Is it because of our work experience? If it is, then perhaps it’s time we do more, learn more and then possibly achieve more.
If it is because of academic qualification, then it’s time we upgrade our current qualification. Many jobs continue to require a degree because they have a salary range which is also determined by a minimum academic qualification. This is a reality, we need to do something about it because complaining will get us nowhere.
If we have the work experience as well as the academic qualification but we still could not get a job…. then it may just be our communication capability. If this is the case, it pays to improve this so that we could do well in the interview. Need a suggestion? Join Toastmasters! (click here to know more) or just whatsapp Charles for more info yeah. Charles is the Club Growth Director for District 51 Toastmasters for Term 2021 – 2022.
Frankly speaking… if there are jobs which gives out bonusses and salary increments and we are stuck in a job without bonus and salary increments, the issue may not be with the job or the company or the boss yeah. It’s really up to us to do something productive about it. Truth hurts but at least now we can take steps to change for the better. All the best for 2022.
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