Singapore News

News from Singapore

Singapore companies pressured to raise wages

Posted by jtsmyth8 on December 6, 2007

Singapore companies are under pressure to raise their wages more than they had earlier expected, in view of higher inflation next year, said human resources services company Hewitt. Companies had budgeted for a 5 per cent wage hike next year, according to Hewitt’s latest survey of 180 companies in Singapore across sectors like hospitality, energy, retail and logistics.

Of these companies, 11 per cent were Singapore-based and the rest are international ones. Almost half of the 180 companies are units of US-based companies.

But the survey, which was conducted in April and May, does not reflect the most recent data which suggest that inflation may reach 4 to 5 per cent early next year as prices of food, oil and commodities climb.

If companies keep to their budgetted figures, real wage increases may be a measly 0.5 per cent to 1 per cent, at least during the early part of next year. (story)

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