FOR the second year running, CapitaLand has paid a portion of staff bonuses in the form of shopping vouchers.
About 700 managerial staff in Singapore will receive a total of $1 million worth of vouchers redeemable at CapitaMalls Asia (CMA) malls here. The value of the vouchers each staff member gets ranges from $750 to $10,000, depending on the size of the bonus.
CapitaLand came up with this scheme last year amid the economic downturn. It saw the idea as a way to direct more customers and spending to its malls and help its tenants.
‘We have extended the initiative by another year after receiving positive feedback from our retail tenants,’ a CapitaLand spokesperson said yesterday. This will also ‘ensure that the momentum of the recovery is sustained for our retailers’.
The vouchers are valid for a year. CapitaLand staff will be able to use them at 14 CMA malls in Singapore, including Ion Orchard, Raffles City Shopping Centre and IMM.
CapitaLand said that since it started distributing vouchers to staff, some companies have bought vouchers redeemable at CMA malls for their own employees or clients.
Source : Business Times – 16 Mar 2010
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