From Rolex watches, 52 months' salary or a 2-meter-high cash mountain, these are the types of 'huge' bonuses that caught the attention of Asian companies last year.
Last month, billionaire Ken Griffin, CEO of the hedge fund Citadel (USA), treated his employees to an all-expenses-paid trip to Tokyo Disneyland. The trip was to celebrate the company's 30th anniversary in 2020 and Citadel Securities' 20th anniversary in 2022, but the celebrations were delayed due to the pandemic.
About 1,200 employees from the two companies' Asia- Pacific offices in Hong Kong, Singapore, Sydney, Shanghai, Tokyo and Gurugram received tickets to the Tokyo Disney Resort. They also got to bring their families and watch the concert, which featured performances by Maroon 5 and DJ Calvin Harris.
Citadel's lavish generosity toward its Asian arm is not unique in the region, as some companies have bounced back strongly from the pandemic.
Rolex Paradise Group held a bonus for employees in March. Photo: Doreen Seah
In March, Paradise Group (Singapore) gave Rolex watches and Suisse gold bars to more than 330 employees. The company owns a series of restaurant brands such as Paradise Dynasty, Beauty in the Pot and Le Shrimp Ramen.
In the video , employees walk to a table filled with Rolex watches, including models like the Datejust. Ninety-eight employees who have worked at Paradise Group for 10 years or more received the watches, regardless of their position. This is the second time Paradise Group has given Rolex watches to employees, following one in 2018.
Meanwhile, employees who have worked for five to seven years received a 2.5 gram Suisse gold bar, while those who have worked for eight or nine years received a 5 gram gold bar. The remaining eight employees received travel vouchers worth S$5,000 ($3,675). In total, Paradise Group spent nearly S$2 million on the giveaway.
Previously, in January, several Asian companies made headlines for their big bonuses or special ways ahead of the Lunar New Year to celebrate their 2022 performance. For example, in Taiwan, shipping company Evergreen Marine broke its own record for the highest bonus by a listed company when it awarded its 2022 results to employees worth up to 52 months' salary.
Accordingly, most Evergreen employees receive year-end bonuses of 10 to 45 months' salary, while bonuses for those with better work performance are up to 52 months. In the middle of last year, the company gave half-year bonuses of 10 to 12 months' salary to employees.
Evergreen employees receive cash bonuses in January 2023. Photo: SCMP Composite
The Chinese crane manufacturer Henan Mine’s New Year’s Eve party in January was notable for a 2-meter-high pile of cash. Employees took turns taking home bonuses, with three sales managers each receiving 5 million yuan ($685,000).
In addition, more than 30 people received at least 1 million yuan ($137,000). In 2022, despite the impact of the pandemic-related lockdown on the Chinese economy, Henan Mine did not lay off any employees and recorded sales revenue of 9.16 billion yuan (nearly $1.3 billion) in 2022, up 23% from 2021.
More recently, in May, Singapore Airlines awarded eligible employees about eight months' salary, after posting a record profit of S$1.16 billion for the 2022-23 financial year. The payment included a profit-sharing bonus of 6.65 months' salary and an additional 1.5 months' salary. The airline said the bonus was "based on a long-standing annual profit-sharing bonus formula agreed with the union."
Phien An ( according to CNA )
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