Despite being surrounded by bad news at home and globally, a new survey of South African business executives has recorded much better sentiment than a year ago on prospects for personal earnings and bonuses, as well as business growth next year.
The annual bonus and salary survey by Jack Hammer, which is rated one of the top three executive search firms in the country, found that South Africa’s top executives were confident they would be fairly compensated in terms of year-end bonuses and salary increases next year, despite the current political and economic turmoil in the country.
The 2016 Bonus and Salary survey polled senior executives and managers in various sectors, including retail, financial services and manufacturing, about their expectations on bonuses, salary increases and business growth next year.
“The findings of this year’s survey are significant, given that the prevailing sentiment in the country seems to be one of doom and gloom in the face of a mooted ratings downgrade, and with the economic growth forecast revised downward to 0.5 percent from an already low 0.9 percent in February,” said Debbie Goodman-Bhyat, the chief executive of Jack Hammer.
The 2016 Bonus and Salary survey polled senior executives and managers in various sectors, including retail, financial services and manufacturing, about their expectations on bonuses, salary increases and business growth next year.
In last year’s survey, 50 percent of leaders expected to receive bonuses at least in line with previous years. This year, 77 percent of leaders expected the same.
