Almost half of Singapore employers plan to give pay increments of 3 to 6%: Hays

Flexi-work arrangements, culture of work life balance and career progression also cited by women respondents as important.
PHOTO: The New Paper

SINGAPORE - Close to half of Singaporean employers plan to award their staff salary increases of between 3 and 6 per cent during their next salary review, recruitment firm Hays said in a report on Tuesday (March 21).

The annual Hays Asia Salary Guide draws on research from more than 3,000 employers representing six million employees across the region.

This year, 46 per cent of those polled in Singapore said they plan to grant salary increments of 3 to 6 per cent.

This is slightly lower than the 52 per cent of employers in Singapore who said they awarded increases of between 3 and 6 per cent during their last salary review period.

"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," said Hays Singapore managing director Lynne Roeder.

The survey also found that 8 per cent of employers in Singapore expect to award increases of 6 to 10 per cent, while 3 per cent plan to award increments of over 10 per cent.

About a third, or 34 per cent, plan to grant up to 3 per cent increments and 9 per cent said they do not plan to give out any salary increases.

What you should do if you are promoted without a pay rise

  • Everything thinks a promotion is something to be happy about. But guess what - a promotion could mean you end up doing extra work for the same pay.
  • A recent news report showed that it's actually quite common for companies to Singapore to promote their workers without giving them a salary increase.
  • If you've gotten the short end of the stick and your company has tried this trick and promoted you without increasing your salary, here are four things you should do.
  • There is no doubt that if you're promoted without a raise, and your employer doesn't intend to give you one in the near future, it's time to leave the company.
  • But don't resign right away. Depending on your situation, you might be able to pick up a few extra skills in your new role that will enable you to command a much higher pay when you finally do get a new job.
  • The main thing is to make sure you don't stay in your current job longer than you have to, since you're being undercut salary-wise.
  • When you receive that promotion, ask your boss when and by how much he'll be able to increase your pay. If they act evasive or you aren't satisfied with the answer, it's probably better to start actively searching for a new job.
  • The fact that you've been promoted already means you've been at the company for a decent amount of time, so you won't have to fear looking like a job hopper.
  • Unless you've already got another job, you'll remain at your current company for a few more months. So you should negotiate the compensation package and point out that you're being asked to take on a more demanding role for the same pay.
  • Obviously you should try to negotiate for a salary increase. But if they refuse, at least try to get some perks-an extra day or two of annual leave, sponsorship for a training course, transport allowance for all those late nights or a flexible work arrangement.

The research also found that Singaporean employees have ambitions salary expectations, with 20 per cent of respondents expecting to receive an increase of 6 to 10 per cent during their next review.

Another 14 per cent said they expect to receive a salary increase of more than 10 per cent.

With only 3 per cent of employers intending to award more than ten per cent, respondents would be advised to readjust their salary expectations, Ms Roeder said.

"Respondents in Singapore wanting a salary increase above what employers are planning to award are advised to do their homework and know why their performance merits a larger increase."

"Candidates also need to keep up with economic news as well as keeping abreast of market conditions to ensure their expectations are managed accordingly."

Still, 13 per cent of employees in Singapore are not expecting a pay rise at all, while 29 per cent are expecting an increase of between 3 and 6 per cent and 25 per cent up to 3 per cent.

This article was first published on March 21, 2016.
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