Labour incentives in Singapore
The objectives of this report are to find out the various forms of incentive schemes that are commonly implemented in Singapore and their reasons for doing so. This study also seeks to provide suggestions on factors contributing towards the implementation of a successful incentive scheme. Fo...
| Main Authors: | , , |
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| Other Authors: | |
| Format: | Final Year Project (FYP) |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/62988 |
| _version_ | 1811676661281718272 |
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| author | Chia, Kok Meng Lim, Chai Eng Tay, Kee Hong |
| author2 | Ang Kong Beng |
| author_facet | Ang Kong Beng Chia, Kok Meng Lim, Chai Eng Tay, Kee Hong |
| author_sort | Chia, Kok Meng |
| collection | NTU |
| description | The objectives of this report are to find out the various forms of incentive schemes that are
commonly implemented in Singapore and their reasons for doing so. This study also seeks
to provide suggestions on factors contributing towards the implementation of a successful
incentive scheme.
For the purpose of this study, the authors have randomly selected a total of 200 listed and
unlisted companies as their sample for the questionnaire survey. In addition, interviews
were conducted with two selected companies (one listed and one unlisted) for a detailed
study of their incentive schemes.
The analysis indicated that most companies in Singapore have implemented some forms of
incentive schemes for their managerial and non-managerial staff. Amongst the different
forms of schemes available, financial incentives are more commonly adopted and
practised as compared to non-financial incentives. The bonus scheme is the most popular
form of financial incentive while the provision of training emerges as the most widely
practised form of non-financial incentive for employees. In addition, share ownership
scheme seems to be another popular form of financial scheme, especially for the
managerial staff. The results have also shown that there is no significant difference in the
types of incentives implemented by listed and unlisted companies.
The two main objectives that are cited by companies in implementing incentive schemes
are to promote employees' loyalty and to increase their productivity. Lastly, several limitations and recommendations are highlighted towards the end of this report for further
consideration and discussion. |
| first_indexed | 2024-10-01T02:25:01Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/62988 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T02:25:01Z |
| publishDate | 2015 |
| record_format | dspace |
| spelling | ntu-10356/629882023-05-19T06:16:14Z Labour incentives in Singapore Chia, Kok Meng Lim, Chai Eng Tay, Kee Hong Ang Kong Beng Nanyang Business School DRNTU::Business::Management The objectives of this report are to find out the various forms of incentive schemes that are commonly implemented in Singapore and their reasons for doing so. This study also seeks to provide suggestions on factors contributing towards the implementation of a successful incentive scheme. For the purpose of this study, the authors have randomly selected a total of 200 listed and unlisted companies as their sample for the questionnaire survey. In addition, interviews were conducted with two selected companies (one listed and one unlisted) for a detailed study of their incentive schemes. The analysis indicated that most companies in Singapore have implemented some forms of incentive schemes for their managerial and non-managerial staff. Amongst the different forms of schemes available, financial incentives are more commonly adopted and practised as compared to non-financial incentives. The bonus scheme is the most popular form of financial incentive while the provision of training emerges as the most widely practised form of non-financial incentive for employees. In addition, share ownership scheme seems to be another popular form of financial scheme, especially for the managerial staff. The results have also shown that there is no significant difference in the types of incentives implemented by listed and unlisted companies. The two main objectives that are cited by companies in implementing incentive schemes are to promote employees' loyalty and to increase their productivity. Lastly, several limitations and recommendations are highlighted towards the end of this report for further consideration and discussion. ACCOUNTANCY 2015-05-05T01:04:29Z 2015-05-05T01:04:29Z 1994 1994 Final Year Project (FYP) http://hdl.handle.net/10356/62988 en Nanyang Technological University 88 p. application/pdf |
| spellingShingle | DRNTU::Business::Management Chia, Kok Meng Lim, Chai Eng Tay, Kee Hong Labour incentives in Singapore |
| title | Labour incentives in Singapore |
| title_full | Labour incentives in Singapore |
| title_fullStr | Labour incentives in Singapore |
| title_full_unstemmed | Labour incentives in Singapore |
| title_short | Labour incentives in Singapore |
| title_sort | labour incentives in singapore |
| topic | DRNTU::Business::Management |
| url | http://hdl.handle.net/10356/62988 |
| work_keys_str_mv | AT chiakokmeng labourincentivesinsingapore AT limchaieng labourincentivesinsingapore AT taykeehong labourincentivesinsingapore |