KUALA LUMPUR (July 27): Malaysians are far more willing to bet on themselves than most of their Asian colleagues, as per a new poll by recruiting experts Hays Plc, which shows 71% of Malaysian professionals would take a base salary cut for the opportunity to potentially earn more through performance-based bonuses.

In a statement today, Hays said this was significantly higher than the Asian average of 64%.

It said in the online poll of 2,361 people (including 439 in Malaysia), Hays found 52% of Malaysians would take a base salary cut of up to 20%, in order to receive a bonus based on their performance.

It added a further 19% would take a cut of more than 20% for that same opportunity.

Hays said the final 29% preferred not to roll the dice and would not cut their base salary, in order to potentially earn more through a bonus based on performance.

Hays managing director in Asia, Christine Wright, said understanding how people weighed the various elements in a compensation package could be a great attraction and retention advantage.

“After all, a compensation package consists of more than base salary.

“However there is no one-size-fits-all approach to compensation packages and employers should work with a candidate and their recruiter to tailor an offer that has the best chance of retaining them long-term,” she said.

Wright says that performance-related bonuses offer advantages to both employers and employees.

“A performance-related bonus rewards employees for good work and can be very motivating for employees, as they have a vested interest in achieving a top result. For employers, this can motivate their team to work at peak efficiency.

“Such bonuses work best when both the employer and employee are aware of the objectives that need to be met, in order to qualify for the bonus, which is why they are often tied to performance appraisals,” she said.

Wright said the minimum performance expectations must be made clear though, otherwise an employee may not feel they are being rewarded fairly for their performance.

“Communication is essential to make sure both sides are fully aware of the objectives that need to be met, in order for performance-related bonuses to be awarded,” she said.

The poll was conducted on each country’s Hays website, between April and July 2015.