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2012, May 23

Singapore Employers Cautious on Pay Increases as GDP Growth Stalls

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Singapore Employers Cautious on Pay Increases as GDP Growth Stalls

by CFO Innovation Asia Staff, 03 January 2012
topics:
Compensation and Benefits Human Capital Management Management
tags:
Global Economic Crisis pay increases
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Singapore employers will refrain from giving generous pay increases this year amid uncertain economic conditions, reports the Straits Times.

 

Employees, however, can still expect a pay increase this year as human resource consultants estimate that the average nominal wage increment will be about 4% this year - a decrease from 2011's 6%.

 

Meanwhile, the government has released preliminary fourth quarter 2011 GDP data that suggest the economy contracted 4.9% quarter-on-quarter on a seasonally adjusted annualised rate. This compares with 1.5% expansion in the third quarter, 5.9% contraction in the second quarter and a strong 26.6% spurt in the first quarter.

 

Full year GDP growth is estimated at 4.8%. The final numbers will be released in February. 

 

MORE ARTICLES ON COMPENSATION AND BENEFITS

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Lower pay increases expected this year as employers get cautious
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CFO Innovation Asia Staff
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I just hope for this
Submitted by didutz did on 17 February 2012 - 8:10pm

I just hope for this situation to be a little changed..and I expect for the near future some different things in this.
Oferte Cazare

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