According to a survey by Hays, a recruiting company, around 46 per cent of Singaporean employers expect to give salary increases of between three and six per cent to their workers.
The 2017 Hays Asia Salary Guide, released yesterday, surveyed 3,000 employers representing six million employees. It found that eight per cent of employers in Singapore expect to award increases from between six and 10 per cent, and three per cent plan to give raises of more than 10 per cent, down from 52 per cent during the last salary review period.
34 per cent will look to award up to three per cent, and nine per cent of employers will award no pay increase at all.
Lynne Roeder, managing director of Hays Singapore said, “Singapore is a resourceful nation, but the economic outlook for 2017 is challenging so it’s not surprising to see employers taking a moderate approach to salaries.”Roeder, managing director of Hays Singapore said, “Singapore is a resourceful nation, but the economic outlook for 2017 is challenging so it’s not surprising to see employers taking a moderate approach to salaries.”
The company advised those wanting a bigger raise to “do their homework and know why their performance merits a larger increase.”
In the coming year, 66 per cent of employers surveyed intend to award bonuses to all their employees and 25 per cent said they would give them to only some employees, Hays added.
Of the employers paying bonuses, 31 per cent expect the bonuses to be worth up to 10 per cent of their workers’ pay, while a total of 42 per cent expect to award bonuses worth between 11 and 50 per cent of staff salary. Another 13 per cent of employers in Singapore expect to pay bonuses amounting to 100 per cent of staff salary.