Human Resources



WAGE ALERT: Higher salaries for high performers

The first Managing Mental Health & Wellbeing in the Workplace online course will be launched in December.
Register your interest for the course at the introductory price of SGD199.

High performers in Singapore can expect to be handsomely rewarded as employers begin salary reviews.

According to Towers Watson’s Salary Budget Planning Report 2012-2013, Singapore and Hong Kong were tied at 12th place in terms of percentage increase in projected salary.

Both countries are expecting a 4.5% salary increase across all industries and employee groups this year, unchanged from 2012.

Overall, 79% of respondents in Singapore predict a larger portion of their salary budget allocation will be directed to high performers, and 3% expect the entire budget increase to benefit high performers.

Nearly a fifth (17%) said the budget will be allocated equally to all employees, and 1% of respondents expect to exclude high performers from planned salary decreases.

This year, 98% of employers in Singapore will conduct a salary review, 1% higher than in 2012.

However, 2% of 152 local respondents said there will be a salary freeze in 2013, 1% lower than last year. None of the respondents expect postponed or statutory salaries.

In Singapore, 5% of respondents within the high tech sector expect a salary freeze in their industry – making them the only industry in Singapore to anticipate a freeze.

HR Masterclass Series: High-level HR strategy training workshops
with topics ranging from Analytics, to HR Business Partnering, Coaching, Leadership, Agile Talent and more.
Review the 2019 masterclasses here »

Read More News


Leave a Reply

You must be logged in to post a comment.