It's the Employers World

[USM]

A true story which I have come across.

The company has forfeited a special bonus declared recently as a result of a resignation of a staff. This special bonus is to reward all the employees who had contributed to the company performance for last year 2004 whereby the company made quite a fair bit of profit.

Some background story :

The company financial year is every year 31 Dec.
The bonus structure payable for year 2004 is as follows :

1) AWS (annual wage supplement) or known as 13 month bonus was paid in Dec 2004

2) VPB (variable payable bonus) (I) paid in Dec 2004

3) VPB (II) paying in August 2005

The HR dept sent out an official email to all the staff stating that the special bonus (VPB II) will be paid in August 2005. All executives who are confirmed as at 30 June 2005 and are still in employment as at 31 August 2005 will be eligible to receive this special bonus. For those who joined the company after 1 July 2005, a pro-rated amount will be paid.

So what is the story?

The last day of employment of that staff in the company is at October 2005, which I feel that the company should pay the special bonus given the above email from HR. However, this is not the case. The management feels that once an employee has tendered his / her resignation, he / she is totally not entitled to any bonuses at all. They used the term - bonus is not an entitilement but a privilege, it's always at the discretion of the company to give or not. They would label the resigned employee as "Not Loyal" to the company anymore, a betrayer? The company will only reward stayers and not quitters. The company can always withhold any bonuses unless they had already credited into your bank account.

This poor chap not only lost the VPB (II) bonus, the increment as at 1 July 2005 as well as the 2-3 months year end bonus. :sweat: Everything is freezed the moment you tendered your resignation.

Therefore for those who have the intention of resignation from your work, please wait until you have received the money in your bank account else the company can always forfeit it even though they have made an official announcement.

White collar workers are not under any Unions, so they have no case to fight. You can't lodge a complaint to MOM too.

 

[Astin]

Shame on that staff, want to quit and still want to get the bonus.:thumbsd:

 

[espn]

Common practice.

 

[azul123]

Unfortunately, many companies do state this in their employment contract, the entitlement, e.g; 25 working days off, medical benefits etc... if bonus is stated that the company may give performance bonus from time to time etc...

Then it is at the company's discretion. It's life... the company may feel that people jump ship too often immediately after bonus payment and maybe this is how they prevent such cases? I don't know but I can understand how your friend may feel cheated.

../azul123

 

[reachme2003]

any employees in singapore can lodge an unresolved grievance with their employer with MOM. i.e. MOM's labour relations unit, if i am not wrong.

A true story which I have come across.

The company has forfeited a special bonus declared recently as a result of a resignation of a staff. This special bonus is to reward all the employees who had contributed to the company performance for last year 2004 whereby the company made quite a fair bit of profit.

Some background story :

The company financial year is every year 31 Dec.
The bonus structure payable for year 2004 is as follows :

1) AWS (annual wage supplement) or known as 13 month bonus was paid in Dec 2004

2) VPB (variable payable bonus) (I) paid in Dec 2004

3) VPB (II) paying in August 2005

The HR dept sent out an official email to all the staff stating that the special bonus (VPB II) will be paid in August 2005. All executives who are confirmed as at 30 June 2005 and are still in employment as at 31 August 2005 will be eligible to receive this special bonus. For those who joined the company after 1 July 2005, a pro-rated amount will be paid.

So what is the story?

The last day of employment of that staff in the company is at October 2005, which I feel that the company should pay the special bonus given the above email from HR. However, this is not the case. The management feels that once an employee has tendered his / her resignation, he / she is totally not entitled to any bonuses at all. They used the term - bonus is not an entitilement but a privilege, it's is always at the discretion of the company to give or not. They would label the resigned employee as "Not Loyal" to the company anymore, a betrayer? The company will only reward stayers and not quitters. The company can always withhold zny bonuses unless they had already credited into your bank account.

This poor chap not only lost the VPB (II) bonus, the increment as at 1 July 2005 as well as the 2-3 months year end bonus. :sweat: Everything is freezed the moment you tendered your resignation.

Therefore for those who have the intention of resignation from your work, please wait until you have received the money in your bank account else the company can always forfeit it even though they have made an official announcement.

White collar workers are not under any Unions, so they have no case to fight. You can't lodge a complaint to MOM too.

 

[USM]

Shame on that staff, want to quit and still want to get the bonus.:thumbsd:

I can understand that the increment portion and the year end bonus are forfeited.

But for the special bonus for 2004, shouldn't the staff get it since he / she did contributed to the company for last year? Moreover, the HR dept also stated that as long as you are still around as at 31 Aug 2005, you will get it. :think:

Therefore, the morale of he story is - "At the discretion of the Management". It's up to them to decide.

 

[Astin]

Probably 1 of the reason this company only release the bonus (II) in August is to make the staffs to stay and not to quit, and if the staff want to quit he should not be entitled to any bonus, morally the staff is wrong, legally I guess the staff has no right to claim.

 

[shawnlim]

Ha like that only. My wife change to a different department (STILL WITH THE SAME COMPANY) also dont entitle any bonus. SO YOUR FRIEND UNLUCKY OR MY WIFE IS DOWN ON HER LUCK? . Thats life, move on!!!!!!!!!

 

[itisnottheendorg]

I read your writeup and then I LOOK AT YOUR THREAD TITLE. case closed there.

that said, though, i also knew someone who lobbied his company to pay for his postgrad course (5fig), paid him 6mths bonus, backpay him another 6mths (for 6yrs emplym)...ALL WHEN HE IS JUST ABOUT 1 MORE DAY TO TENDER STRAIGHT AFTER GRADUATING, THE COMPANY ANNOUNCED TO M&A. Afterthat he went to that new job immediately, at a better pay and benefits.

so win some, lose some.

oh, nearly forgot here, so one shot graduation, he held his wedding quickly where he invited all his about to-be-ex-colleagues/associates, made a killing, bought a new car, and a new apartment..plus a wife of course.

 

[hongsien]

, bought a new car, and a new apartment..plus a wife of course.

How much did he pay for the wifey?

HS

 

[dominator]

That is normal for VPB to be forfeited. I had the same experience before...a total of 2.5mths. Heart pain over the lost, but I consider myself lucky to be able to hold a better job with better benifits considering the fact I was willing to give up fast on my previous job with a lost of VPB..
Cheers~
No lost no gain..

 

[Cactus jACK]

question from a curious on-looker...

if your friend's last day was in oct... giving 1-mth notice would be (same date) in sept (assuming 1-mth notice).

- AWS and VPB (2005) are not usually pro-rated for employees who leave in the course of the year, so this one got no fight.

- there is no reason why the person would not get his July increment? his new pay scale should have been effective from July, and he would still be in service in July, Aug, and Sept.

- VPB (II) paying in August 2005 - assuming that this was paid in out before he tendered (paid in Aug, tendered in Sept), there is no reason why he would have to return the bonus. however, if tendered before the bonus was paid out... like the AWS and other VPB - no fight.

think - "greener pastures"!!!

 

[rainman]

Your title says it all

Always keep a look out for better opportunity...nothing is forever

 

[espn]

Your title says it all

Always keep a look out for better opportunity...nothing is forever

Why does the employee wants to leave in the first place? :bsmilie:

 

[Astin]

Why does the employee wants to leave in the first place? :bsmilie:

A. Company no good
B. Company good boss no good
C. Company good boss good pay no good
D. Company good boss good pay good working hour no good

 

[espn]

A. Company no good
B. Company good boss no good
C. Company good boss good pay no good
D. Company good boss good pay good working hour no good

Precisely :bsmilie:

 

[itisnottheendorg]

like they always like to say, look at issues with a OUT-OF-THE-BOX perspective..how abt..

E. YOU too good for Company, the Boss AND the Pay

 

[espn]

how abt..

E. YOU too good for Company, the Boss and the Pay

Yup, that's the reason I left my last job :bsmilie:

 

[itisnottheendorg]

HAHA...:bsmilie:

..but thats NOT the reason i gone. The Boss told me he left ME behind his advancing Company to green pastures..:cry:

 

[dawgbyte77]

Technically its fair because of the words "company discretion". That's why think first if a company offers you low salary but high bonus... there is a catch somewhere...