China, Singapore Employers Offer Promotions Without Pay Rise

by CFO Innovation Asia Staff, 14 June 2012

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Employers in China (70%) and Singapore (68%) promote their staff without giving them a pay rise, finds a global study by recruitment firm, Robert Half.

The two countries come in second and third after Chile (76%) as the top three countries where such practices are common.

In Japan, only 26 percent of employers promote their staff without pay increases, with 66 percent saying they would never use the practice.

Robert Half said there are risks for companies offering a promotion without a pay rise, and employers should offer adequate compensation either through pay or other benefits to retain their staff.

"While pay is not the only factor employees consider, if companies do not provide adequate compensation either through pay or other benefits, then they may lose their top performers to the competition," says Stella Tang, director of Robert Half Singapore.

In particular, within the banking & financial services and commercial sectors, companies are struggling to get the right finance and accounting professionals to fill jobs.

"If employees with the right skills tests their worth in the employment market, they may find they have several job offers to choose from. If budget constraints mean no additional monetary compensation can be offered, the reasons need to be clearly communicated."

Tang adds that for some employees, especially those with families, offering more flexible work arrangements may be of more value than money.

"It comes down to whether an employee can come to an agreement with their employer that balances their professional goals with remuneration for their efforts," says Tang.

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