60% of companies give Mid-Autumn Festival bonus

Over 60% of enterprises this year plan to issue cash bonuses for Mid-Autumn Festival

Wallet with Taiwan dollars inside.

Wallet with Taiwan dollars inside. (Taiwan News photo)

TAIPEI (Taiwan News) -- Approximately 60 percent of enterprises will issue a cash bonus for this year's Mid-Autumn Festival with an average amount of NT$1,406, according to the online job bank yes123, reported Now News.

Of note, 17.7 percent of employers reported that their budget for cash gifts dropped this year, and 75 percent of those firms attributed it to the new workweek rules (一例一休), which went into effect in Dec. 2016. However, 77.9 percent said their budgets will remain unchanged, and 4.4 percent said their budgets will actually increase.

The Mid-Autumn Festival bonus is often considered a leading indicator of the year-end bonus, however, it is not yet clear if this will hold true in light of the new workweek rule changes. There are three major holidays in which Taiwanese employers offer bonuses through the course of the year, including Lunar New Year, Dragon Boat Festival, and Mid-Autumn Festival.

Of the 904 companies surveyed, 63.7 percent said they will issue a bonus for the Mid-Autumn Festival. Of this group, 39.8 percent said they will give a cash bonus, but will not include a gift, while 23.9 percent they will provide both cash bonuses and gifts.

As for the amount of the cash bonus, 44.3 percent will give out a bonus of between NT$800 and NT$1,200, 19.1 percent will dole out between NT$500 and NT$800, while 8.7 percent will offer between NT$2,000 and NT$3,000, according to the survey. A tiny 1 percent said they would offer cash bonuses over NT$5,000.

Of the companies that said they will not provide a cash bonus for the Mid-Autumn Festival, 31.9 percent said they will give gifts instead. The remaining 4.4 percent will not offer a cash bonus or a gift for the traditional festival. A total of 55.8 percent of companies will at least provide a gift of some sort to their employees for the traditional holiday.

The poll was carried out from Sept. 14-28 and has a margin of error of plus or minus 3.26 percent.