Today: December 5, 2023

CNY Ang Bao Guidelines for CFOs

2 mins read

Qinthara Fasya, DigitalCFO Asia | 3 February 2022

Not sure if you should give it or how much to give?

Read more to find out a simple Ang Bao guideline for your fellow employees

We’re all slowly returning to work mode today or tomorrow after a two-day vacation for Lunar New Year celebrations. Because it’s the first day back after the Lunar New Year, many bosses will be offering CNY meals and red packets to their employees. In this post, we’ll talk about whether or not you should provide Ang Baos to your employees and how much you should give them.

The first thing to note is that, it is okay to be hesitating as you’re definitely not alone, especially with many companies cutting costs due to the effects of Covid-19. However, 2022 does look a little more hopeful year as compared to the past 2 years and we hope it remains that way.

Is it a must?

It is traditionally presented on the first day of work as inspiration for the employees and is said to bring good luck to both the firm and the employees. The tradition is seen by business owners as “a expression of gratitude and appreciation” to their employees for their hard work over the past year. It’s not just Asians that give ang baos; foreigners working in Singapore have adopted the habit throughout the years.

The red packet handed to employees at Chinese New Year is primarily symbolic. Therefore, it is completely up to you should you decide give it or not.

Give Ang Baos in even numbers

During a Chinese New Year celebration, red packets are frequently distributed in place of the Christmas bonus that is prevalent in western offices. As a result, many companies prefer to provide red packets as gifts in accordance with Chinese beliefs or practices.

Odd numbers are often linked with funeral gifts in Chinese culture. As a result, the total amount of money in your red packets for your staff should be an even number.

This implies the money in your red packets should have an even digit at the end – $6, $8, $10, $20, and so on. Even numbers are frequently connected with joy and success. The number 4 is, on the other hand, frequently avoided since it is said to resemble the Mandarin word “death.”

Consider the employees’ status

In general, regardless of their civil status, you can provide red packets to your employees. If you wish to stick to tradition, you should keep the red envelopes for single employees exclusively. This is in keeping with the ang bao-giving protocol that many Singaporeans follow.

Technically, your workers can still receive red packets if they are single. Many firms, however, choose not to offer ang baos to their elderly and unmarried staff out of respect, so as not to shame them in front of others.

What is the ‘right’ amount?

When it comes to the amount of money you must offer for each red packet, there are no hard and fast regulations. You have the option of deciding how much you can safely donate.

However, you should avoid donating a sum that includes the number 4 since it resembles the word “death,” according to Chinese religion. The number eight, on the other hand, is a favorable option since it is said to represent wealth and good fortune.

Furthermore, it is customary practice to avoid using coins while placing money in red packages. Instead, many employers choose to post fresh bills.

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