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9% of Singapore employers won't give salary increases this year

Singapore Business Review logo Singapore Business Review 21/3/2017 Staff Reporter
© Provided by Singapore Business Review

But almost 1 in 2 will award increases of up to 6%.

46% of Singaporean employers expect to award salary increases of between 3% and 6% during their next salary review, according to recruiting experts Hays.

The annual Hays Asia Salary Guide, now in its tenth year, highlights salary and recruiting trends in China, Hong Kong, Japan, Malaysia, and Singapore. The Guide draws on research from more than 3,000 employers representing six million employees.

Here's more from Hays:

During their last review period, 52% of employers in Singapore awarded increases of also between 3% and 6%.

"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," says Lynne Roeder, managing director of Hays Singapore.

Other salary-related findings from the 2017 Hays Asia Salary Guide showed that 8% of employers in Singapore expect to award increases from between 6% and 10%; 3% plan to award over 10%, 34% will look to award up to 3%; and 9% will award no increase.

In terms of intended salary increases across the region, Hong Kong (49%) and Malaysia (46%) will offer between 3% and 6%, China (45%) will increase from between 6% and 10% with Japan (60%) offering up to a 3% increase.

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