JOHANNESBURG – South African senior professionals, especially in the retail, manufacturing and finance sectors, are neither optimistic about a bonus this year nor a salary increase in the new year.
The belt-tightening as a result of the sluggish economy has doused expectations of a bonus and salary raises, according to the Jack Hammer Bonus and Salary Survey for 2019.
These expectations are the lowest they have been in the past four years, the annual survey shows.
About 56 percent of respondents indicated that they expected little in the way of bonuses this year, and 33 percent were anticipating no salary increase.
Jack Hammer said the trend had been on the wane since 2016, when those banking on a bonus in line with or above the previous year stood at 77 percent, which declined to 66 percent in 2017 and slipped further to 62 percent last year.