The_King Posted January 26, 2021 Share Posted January 26, 2021 The bonuses for Sheng Siong employees range from 4.68 months to 15.72 months, depending on the workers’ grade Sheng Siong’s profit before tax for the first nine months of 2020 was 81 per cent higher than in 2019 The good performance reflects how supermarkets performed well last year during the pandemic Separately, FairPrice said its rewards for employees will commensurate with their contributions and efforts SINGAPORE — After a bumper year, Sheng Siong's employees will receive bonuses of up to 16 months, inclusive of the annual wage supplement (AWS), an internal memo shows.In a copy of the memo seen by TODAY, eligible staff members are entitled to 20 per cent of the company’s profits before tax as variable bonus.Some of the amount, as well as the monthly bonus, has already been distributed from September to December last year. The remaining payout will be reflected in employees’ payslips next month and distributed in early March this year.TODAY has verified the authenticity of the memo, which was dated Jan 21, 2021. When approached, Sheng Siong declined to comment.In the memo, the Sheng Siong management said that it performed “tremendously well” compared to previous years. The good performance reflects how well supermarkets performed last year, especially during the circuit breaker period, which was imposed here in April and May to restrict movement and activities in stemming the spread of the disease.During this period, supermarkets saw their revenues surge as most people stayed home and prepared homecooked meals since dining out was prohibited.Data from the Department of Statistics showed that supermarkets saw a 74.6 per cent year-on-year increase in sales last April when all other sectors in the retail industry saw a decline.Even now, supermarkets continue to see a rise in their takings. The latest data from the Department of Statistics showed that supermarkets and hypermarkets saw a 22.6 per cent increase in sales last November on a year-on-year basis.The Sheng Siong memo gave a breakdown of how much bonus its employees can expect to receive in total. Part-time workers will receive 4.68 months’ bonus, general staff members will receive 8.36 months’ bonus, while those employed at the assistant supervisor to senior executive levels will receive about a year’s bonus. In 2019, it was 3.36 months, 5.73 months and 8.0 months’ bonus received by each respective tier.Employees whose ranks are in the assistant manager level and above will receive 15.72 months’ bonus, up from 10.45 months’ bonus in 2019.The bonus figures are inclusive of the one-month AWS.In the first nine months of last year, Sheng Siong registered a revenue of S$1.07 billion, a 44.6 per cent increase over the S$743.43 million in the same period in 2019.The increase was “mainly because of elevated demand arising from Covid-19,” the listed firm said in a financial statement on its website.Profit before tax for the first nine months of last year was S$127.64 million — an 81.1 per cent jump over the S$70.49 million in 2019.The full-year figures are not yet available as its financial year ended on Dec 31, 2020.In 2019, Sheng Siong’s full-year revenue amounted to S$991.28 million while profit before tax was S$91.91 million.As of Sept 30 last year, Sheng Siong has 64 stores in Singapore and two in China. Separately, in response to TODAY’s queries, a spokesperson from NTUC FairPrice supermarket chain said that it ensures that its 13,000 employees’ welfare benefits are competitive and in tandem with economic and market conditions.“Our employees’ well-being is a core priority and staff rewards will commensurate with employees’ contributions and efforts during this challenging period,” the FairPrice spokesperson.She added that beyond bonuses, FairPrice also rewards its employees through other forms of recognition.During an interview with news outlet CNBC in May last year, Mr Seah Kian Peng, group chief executive officer of FairPrice Group, said that FairPrice saw “a huge surge in sales” during the first quarter of last year, and that employees will be rewarded in terms of their salary for their hard work.The Business Times reported in November last year that the FairPrice Group is set to cross the S$4 billion revenue mark in 2020. 1 Link to comment Share on other sites More sharing options...
The_King Posted January 26, 2021 Author Share Posted January 26, 2021 quote: Separately, in response to TODAY’s queries, a spokesperson from NTUC FairPrice supermarket chain said that it ensures that its 13,000 employees’ welfare benefits are competitive and in tandem with economic and market conditions.“Our employees’ well-being is a core priority and staff rewards will commensurate with employees’ contributions and efforts during this challenging period,” the FairPrice spokesperson.She added that beyond bonuses, FairPrice also rewards its employees through other forms of recognition mean dont have la. why must talk 1 big round 2 Link to comment Share on other sites More sharing options...
ManOfTheHour Posted January 26, 2021 Share Posted January 26, 2021 lol at Fairprice Link to comment Share on other sites More sharing options...
XianGe Posted January 26, 2021 Share Posted January 26, 2021 Why manyzer get so much? Link to comment Share on other sites More sharing options...
Huat Zai Posted January 26, 2021 Share Posted January 26, 2021 It's good to be FamiLEE 1 Official Mugentech Minecraft server: Please see thread in Gamers Link to comment Share on other sites More sharing options...
Coffee_O Posted January 27, 2021 Share Posted January 27, 2021 they should give bonus to the fucker who comes and talk cock. then all the fucking daft sinkies will chiong to supermarkets to clear toilet papers again 1 Link to comment Share on other sites More sharing options...
meng.huat Posted January 27, 2021 Share Posted January 27, 2021 I think the boss is a fair person.. his staff worked hard for the company in March and April when many were hiding at home. The company made profit and distributed the profit to the deserving staff. Good work! 1 Link to comment Share on other sites More sharing options...
meng.huat Posted January 27, 2021 Share Posted January 27, 2021 20 hours ago, The_King said: a spokesperson from NTUC FairPrice supermarket chain said that it ensures that its 13,000 employees’ welfare benefits are competitive and in tandem with economic and market conditions.“ Our employees’ well-being is a core priority and staff rewards will commensurate with employees’ contributions and efforts during this challenging period,” the FairPrice spokesperson. She added that beyond bonuses, FairPrice also rewards its employees through other forms of recognition. During an interview with news outlet CNBC in May last year, Mr Seah Kian Peng, group chief executive officer of FairPrice Group, said that FairPrice saw “a huge surge in sales” during the first quarter of last year, and that employees will be rewarded in terms of their salary for their hard work. this is the typical sinkie roti prata miser boss.... early days promised to reward with money... later flip prata say "other form of recognition"... Zzzz.... what other form of recognition can NTUC give? badge of honour? People go to work to earn money... MONEY.... they don't need your "other forms of recognition"... 2 Link to comment Share on other sites More sharing options...
The_King Posted January 27, 2021 Author Share Posted January 27, 2021 I should talk on the phone near a NTUC staff saying sheng shiong give staff 16month 1 Link to comment Share on other sites More sharing options...
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