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Sometimes it might seem as if there’s no pleasing local employees.
Despite 71% of 1,300 local respondents surveyed by jobsDB reporting to receive a pay increment every 12 months – with 58% last receiving an increment of 1-5% – 84% of them said the amount “should have been higher”.
The survey also found 61% of the respondents across 30 industries felt overwhelmed and underpaid relative to current market rates.
“As the war for talent escalates, pay satisfaction and company loyalty will continue to be tested,” Sheldon Fernandez, general manager of jobsDB Singapore and Malaysia, said.
He added while employees may not be active job seekers, the survey found many were open to the possibility of a job change, particularly if it they considered it a better opportunity and were offered a pay increment.
“According to our survey, 76% of respondents rated salary as highly to extremely important when making the decision to change jobs.”
Additionally, the survey found a quarter of respondents only received a pay review from their company every 18 months to two years.
That statistic might be a red flag for employers, as 63% of respondents indicated pay as their biggest motivation to go to work, followed by passion (18%), colleagues (9%) and corporate culture (6%).