The American Club 2021/2022 Annual Report
PAGE 49 THE AMERICAN CLUB SINGAPORE ANNUAL REPORT 2021 / 2022
Total Payroll & Bonuses
Payroll & Bonuses per Full Time Headcount and Payroll & Bonuses as % of Total Income
90.0%
160,000
84.1%
80.0%
75.9%
134,392
140,000
71.8%
120,465
118,672
70.0%
67.2%
120,000
107,456
62.7%
60.0%
100,197
99,537
58.3%
59.3%
100,000
91,323
53.0%
50.0%
81,618
78,392
74,375
80,000
71,936
69,325
68,678
66,899
40.0%
63,843
63,758
60,000
30.0%
40,000
20.0%
20,000
10.0%
-
0.0%
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
Total Income per FT Headcount
Payroll Costs per FT Headcount
Payroll Costs as % of Total Income
In light of a tight labor market and high demand for service staff, Management explored various initiative to retain Team Members, managing the headcount and payroll costs during the financial year. The Club further developed its partnerships with education institutions such as polytechnics and ITE to acquire quality interns under the Work Study Program, thereby reducing our reliance on the part-timers and its associated costs.
The re-organization exercise undertaken by Management with a leaner team to improve operational efficiency in January 2021 (FY2021) yielded payroll savings of $0.61 million in FY2022.
In addition to the Appreciation Payment of $800 each to all eligible Team Members in June 2022, the General Committee approved bonuses of $1.81 million payable to eligible Team Members of all levels in September 2022. Total payroll and bonuses of 58.3% in FY2022 was lower than FY2021 of 62.7%.
Total Operating Expenses
Operating expenses represented about 22% of the Club’s Total Income. Management therefore took stringent control and reviewed all discretionary expenses before approvals were given. The ongoing pandemic presented some opportunities for the Club to enjoy rebates from vendors as well as maintain the same or better renewal terms for contracts.
The Club also derived maintenance savings in FY2022 as we progressed into negotiations with the main contractors to rectify all the defects during the extended defects liability period.
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