KUALA LUMPUR (Feb 22): There is a large gap between the perception employees and employers have on the subject of bonuses, according to JobStreet.com's latest survey.

Its survey of 3,858 employees found that 75% of them said their current bonus scheme is one of the primary reasons why they would opt to stay put within their companies, but given the chance they would leave for better paying positions.

However, when the employers were asked if bonuses contribute to employee retention, only 37% said it is a major factor in making employees stay with their companies, said JobStreet.com.

The JobStreet.com survey was done on two different groups, which consists of 437 companies from various business sectors and 3,858 employees from different job levels.

It was found that 56% of employees surveyed expect their year-end bonuses to be higher than they were a year ago, up by 5% compared to a similar survey done last year.

As to why these employees expect a bonus increase, 57% said they have fulfilled their management's expectations in terms of work performance, 35% attributed it to their organisation's higher business profits and 8% said it was due to a decrease in operation costs and overheads compared to last year.

Another 26% of the respondents, meanwhile, expect their bonuses to remain the same and 18% expect a lesser bonus.

Out of those who are anticipating a lower bonus, the majority of them said it is because their organisations are seeing a decline in business profits in comparison to the previous year.

The survey also revealed that 55% of employees surveyed expect a salary increase above 6%.

However, only 27% of employers will be giving an increment that is equivalent, implying that a large number of employees will not be receiving their expected increments this year.

"As the cost of living increases, more employees are in search of opportunities that will help them cope with their current expenses. Employers must be willing to bridge the gap between their current payout schemes and employee needs," said JobStreet.com country manager Chook Yuh Yng in a statement today.

"If employees feel valued and fairly compensated, they will be enthusiastic and committed to their jobs and will find no reason to leave," she added.