SINGAPORE:
Workers can expect lower salary
increases and bonus payouts next year, according to a survey by global HR
consultancy firm Hay Group.
Average
wage is expected to go up by 4.5 per cent in 2013, down from 5.2 per cent this
year.
Average
variable bonus, which is 2.5 months this year, is expected to go down to 2.3
months next year.
Hay
Group polled 451 Singapore-based companies from the public and private sectors
in March for the survey.
The top
three sectors with the highest average salary increases are Industrial Goods
(6.8%), Oil & Gas (6.6%) and Natural Resources (6.6%).
Mr
Victor Chan, regional general manager (Singapore and ASEAN) for Productized
Services, Hay Group, said: "When making recommendations on salary
increments, organisations take into account factors such as the uncertainty in
the eurozone, Singapore's rising inflation index, tight labour market and
restrictions imposed on foreign worker recruitment.
"These
factors would play a huge part in the 2012 salary increase movement of 5.2
percent."
Thirty-seven
per cent of the companies polled said they plan to increase manpower by five to
10 per cent this year. Last year, 50 per cent had said they planned to increase
headcount.
Employees
in high demand are technical specialists, staff in middle management and junior
professionals. They are needed to fill jobs in engineering, sales, finance and
accounting as well as administration and support services.
-
CNA/al
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