Under the new rules, GOCCs may parlay bonuses
only if they achieve a 90 percent rating in their performance score cards.
Government workers, including civilian and uniformed personnel, will all receive their year-end bonuses
and cash gifts starting today.
are paid at the end of the year, in both the private and public sectors.
Some P70 million has been earmarked for the additional bonuses
, Board Member Salvador Escalante, Committee on Finance and Appropriations Chair said.
Yet the bonuses
have flowed like oil in Texas even as the state also gives steady raises to employees; a total of 7 percent in 2006-2007, 4 percent in 2008-2009 and 2.5 percent this year.
Poor financial situation is the reason why the majority of employers will not pay bonuses
- 70% of this group of companies.
Phil Sheridan, senior managing partner at recruiter Robert Half UK, said the jump in the value of bonuses
reflected the battle for talent throughout the labour market.
Businesses typically have non-discretionary bonuses
for sales employees for whom results can be more easily quantified.
Workers in finance and insurance saw their bonuses
increase by an average of PS300.
are available until Sunday, August 14th only.
"We're seeing the local banks in the UAE continue to set the pace regarding compliance bonuses