From Rolex watches and 52 months' salary to a 2-meter-high pile of cash, these are some of the extravagant bonuses offered by Asian companies that attracted attention last year.
Last month, billionaire Ken Griffin, CEO of the US hedge fund Citadel, treated his employees to a fully-funded trip to Tokyo Disneyland. The trip was intended to celebrate the company's 30th anniversary in 2020 and the 20th anniversary of Citadel Securities in 2022, but the celebrations were postponed due to the pandemic.
Approximately 1,200 employees from the Asia- Pacific offices of the two companies in Hong Kong, Singapore, Sydney, Shanghai, Tokyo, and Gurugram received tickets to Tokyo Disney Resort. They were also allowed to bring their families to attend and watch the music festival featuring performances by Maroon 5 and DJ Calvin Harris.
Citadel's lavish spending on its Asian branch is not unique to this region, as several companies have recovered strongly after the pandemic.
The Rolex Paradise Group awarded its employees a batch of watches as bonuses in March. Photo: Doreen Seah
In March, Paradise Group (Singapore) gifted Rolex watches and Suisse gold bars to over 330 employees. The company owns a range of restaurant brands including Paradise Dynasty, Beauty in the Pot, and Le Shrimp Ramen.
In the video , employees are seen walking to a table piled high 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 its employees, following a similar event in 2018.
Meanwhile, employees who had worked for 5 to 7 years received 2.5g Suisse gold bars, while those who had worked for 8 or 9 years received 5g gold bars. The remaining 8 employees received travel vouchers worth S$5,000 (US$3,675). In total, Paradise Group spent nearly S$2 million on this reward program.
Earlier in January, several Asian companies attracted attention with their generous bonuses or special arrangements ahead of the Lunar New Year to celebrate their 2022 business results. For example, in Taiwan, shipping company Evergreen Marine broke its own record for the highest bonus ever awarded by a listed company, rewarding employees with 2022 earnings equivalent to 52 months' salary.
Accordingly, most Evergreen employees received year-end bonuses ranging from 10 to 45 months' salary, while those with superior performance received bonuses of up to 52 months' salary. Midway through last year, the company also awarded employees half-year bonuses of 10 to 12 months' salary.
Evergreen employees embrace their cash bonuses in January 2023. Photo: SCMP Composite
The year-end party in January at Henan Mine, a crane manufacturer in China, attracted attention due to a mountain of cash that reached a height of 2 meters. Company employees took turns receiving bonuses. Among them, three sales managers each received 5 million yuan (US$685,000).
In addition, more than 30 people received at least one million yuan (US$137,000). In 2022, despite the Chinese economy being affected by lockdowns due to the pandemic, Henan Mine did not lay off any employees and recorded sales revenue of 9.16 billion yuan (nearly US$1.3 billion) in 2022, a 23% increase compared to 2021.
More recently, in May, Singapore Airlines rewarded eligible employees with approximately eight months' salary after recording record profits of S$12.16 billion for the 2022-2023 financial year. This payment included a profit-sharing bonus equivalent to 6.65 months' salary and an additional 1.5 months' salary bonus. The airline stated that the bonus was "based on a long-standing annual profit-sharing bonus formula agreed upon with the union."
Phiên An ( according to CNA )
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