Bonuses Back on Corporate Agenda in Asia: Recruitment Specialist

While the U.S. continues to battle with a grim unemployment situation, the job market in Asia remains buoyant; with firms in the region expected to award employees with heftier bonuses in 2011 compared with this year, says Guy Day, who heads up the Asia & UK operations at recruitment firm Ambition.

"Asia is in a good place at the moment, relative to the rest of the world and there is no question about it that bonus are back in vogue...they're back on the agenda of companies," he told CNBC.

"There is no question about it that bonus are back in vogue, they're back on the agenda of companies (in Asia)." -MD, Asia & UK Operations at Ambition, Guy Day

According to a survey conducted by the recruitment firm specializing in accounting, finance and technology jobs, employees in middle to senior-level management positions will receive bonuses of up to 30 percent, but more typically in the range of 10 to 20 percent.

"We are not talking about frontline bankers here on the sort of multiple based salary type bonuses. We're talking about people who are probably in middle senior management type category," he continued.

In addition to bigger bonus payouts, Day says salary increments are also on the cards.

The price of replacing an employee can reach up to 30 percent of the individual's annual salary, in recruitment fees, so he notes that it more cost-effective for companies to simply raise salaries of high-performing staff.

"When you put it into context...(you) realize a 10 to 15 percent hike for your best person is probably good value for money," he concluded.