Survey by Saramin: 55.7% provided bonuses averaging 780,000 KRW
Companies with over 300 employees give 1.9 times more than those with fewer than 100 employees,
▲ iclickart, ‘More than 5 out of 10 companies are expected to provide Lunar New Year bonuses this year.’,
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, “Career platform Saramin announced on the 21st that in a survey conducted on 1,194 companies from the 9th to the 14th, 55.7% answered that they would provide bonuses.”,
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, ‘The average bonus per employee at these companies was 780,000 KRW. By company size, those with over 300 employees provided the highest amount at 1,380,000 KRW, companies with 100 to 300 employees gave 840,000 KRW, and those with fewer than 100 employees provided 740,000 KRW.’,
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, ‘Companies with over 300 employees gave 1.9 times more bonuses than those with fewer than 100 employees.’,
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, “The primary reason companies gave for providing Lunar New Year bonuses was ‘to boost employee morale’ (55%, multiple responses allowed).”,
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, “Other reasons included ‘because it is defined as a regular bonus’ (34.9%), ‘to increase employee loyalty’ (16.5%), ‘to alleviate the financial burden of the holiday’ (13.1%), and ‘because last year’s performance was good and there is enough capacity to pay’ (6%).”,
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, ‘On the other hand, most of the 529 companies not providing bonuses cited business difficulties as the reason.’,
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, “These companies stated that they were ‘in a crisis management situation’ (29.7%, multiple responses allowed), their ‘financial state is poor, so there is no capacity to pay’ (27.6%), they ‘are substituting with gifts’ (27.4%), there ‘is no regulation for holiday bonuses’ (25.7%), and they are ‘saving reserves due to increased uncertainty’ (8.9%) as reasons for not providing bonuses.”,
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, ‘Meanwhile, 70.5% of all responding companies plan to give Lunar New Year gifts to their employees.’,
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, “The average budget for gifts was 69,000 KRW, with ‘processed foods like ham and tuna’ being the most common choice (46.9%, multiple responses allowed). Other planned gifts included ‘fruits like pears and apples’ (20%), ‘meat like Korean beef ribs’ (13.8%), ‘various gift certificates (points)’ (13.3%), and ‘household products like cosmetics and detergents’ (8.8%).”,
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