Monday, February 6, 2012

Workers to get pay increase of between 3% to 6% this year: Survey

Singapore workers can expect an average salary increase of between three to six per cent this year, according to the latest survey by multinational recruitment firm, Hays.

Based on a survey among employers here, 50 per cent say they will increase workers' salaries by three to six per cent at the next review. 23 per cent said the increase will be above six per cent.

21 per cent of employers gave an increase of six per cent. 28 per cent gave increases of less than three percent, while seven per cent did not increase workers' salaries.

However, 22 per cent of employers say the increase will be less than three per cent, while five per cent of employers do not expect to give any pay increases.

The 2012 Hays Salary Guide also found that 44 per cent of Singapore employers increased the salaries of their workers by three to six per cent last year.

As for bonuses, 54 per cent of employers say they intend to give more than 50 per cent of staff a bonus this year.

More employers however, are offering benefits to workers, with 81 per cent of employers doing so. This is up from 78 per cent the previous year.

The salary guide was based on a survey of over 900 employers.

When interviewed by the media, Mr Chris Mead, regional director of Hays in Singapore said a shortage of skilled workers in certain industries is still a problem.

In areas where there are skill shortages, 66 per cent of employers said they would employ a qualified foreign candidate.

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