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6 In 10 Companies To Freeze Wage Hike

Posted on 15/08/2012 by achieve-admin

While those intending to increase staff salaries plan a measly 3% raise.

According to Achieve Group’s Hiring Trends Report 2H12 which 58% of companies indicated that there would be ‘No change’ in staff salaries. 22% of companies intend to increase staff salaries by ‘Up to 3%’ while 18% of those surveyed plan to hike wages by ‘3% to 5%’. Only 2% of companies reported that they would be increasing staff salaries by ‘More than 5%’.

Here’s more from Hiring Trends Report 2H12:

All the companies that will be increasing headcounts were polled on the salary increment that they would offer new hires, with respect to the candidates’ last drawn salary.

Most of those surveyed (41%) said they would be offering increments of ‘Less than 5%’ followed by 14% of respondents who stated that they would offer increments of ‘5% to 10%’. Only 2% of participants indicated increments of ‘10% to 15%’.

None of the companies said they would offer new hires an increment of ‘More than 15%’. The remaining 43% declined to comment.

Source: Singapore Business Review, 15 Aug 2012