New research has highlighted a substantial gap between what benefits are on offer for marketing professionals in Asia, and what they actually receive.
According to research conducted by EMR, 85% said they view an annual bonus scheme as essentially when considering a new role, with a further 15% stating it was “quite important”.
Other benefits marketing professionals deem important include life insurance (68%), 20 days holiday or more (67%), training (55%) and a travel allowance (52%). The least favoured benefits were leisure facilities and a car allowance.
When asked which benefits were already included in their package, only 64% said they receive a bonus annually. Life/death in service insurance – which was rated the second most important benefit – is only on offer to just more than half (52%) of respondents.
“Almost all our marketing candidates expect a bonus to be on offer as part of the package and many have turned down a role when a bonus scheme was not included,” said Monica Bermeo, practice lead and managing consultant at EMR.
“Companies are missing out on top talent by not offering this. Given that bonuses are typically performance related, it would make sense for organisations to reward these accordingly and if they are not currently offering a bonus, to consider the cost of not doing so.”
Where this becomes a challenge, she says, is when candidates include variable bonuses into the basic package as their basis for increment.
“This is unacceptable under general circumstances but does become a valid negotiation ground for top calibre candidates who typically receive maximum bonus’ year on year. In this case, clients do end-up compromising for the sake of winning top talent especially in critical requirements.”