Having Bonus Is Not Important Anymore?

Hi Everyone!

With the recent news about civil servant (government service) mid year bonus of 0.45 months, the topic about bonus raise around my colleagues, friends and bloggers. Certainly this is a good news to civil servant even though the bonus is lesser as compared to last year and some other years (As pointed out by investment Moat - A 0.45 Month Bonus is not the lowest Civil Servant Mid Year Bonus). 

I also believe is quite good considering that there is an increase in retrenchment in Singapore as stated in Channel News Asia WDA sets aside S$28 million to help PMETs pick up new skills. Understanding this situation, government have come out with several measures including setting aside $28 million to help PMETs to pick up new skills and also with the skill future credit which enable working adults to continuously improve their skills so that they can be in higher demand in the market. 

With the fear of retrenchment, most of the people around me are more concern about whether they can protect their rice bow (job) rather than bonus. Some of them even say they rather forgo the bonus in order to protect their job (One of the blogger mention this in one of his post - Year End Bonus). I am fear of retrenchment as well because being retrench is really no joke, especially when you need to support your family and yet to build up enough savings to tide over such exercise.

So with the government initiatives of Skill future and aiming to encourage people to pick up new skills is a good approach because we must always remember that continuous learning is very important, not just for securing a job but also broaden our knowledge. 

So do you agree that in this period, people are more concern about securing their job than bonuses?