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May 26, 2010
'Give pay rise if you can'
It also calls for future pay rises to be pegged to productivity growth
<!-- by line -->By Kor Kian Beng & Cassandra Chew
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<!--background story, collapse if none-->Key guidelines
* Companies to give wage increases in keeping with their business performance and prospects.
* Peg future pay rises to productivity growth.
* Introduce wage structures that are flexible.
* During wage negotiations, take into account the impending CPF increase as part of the total pay package.
* Set out clearly the key performance indicators that would take into account workers' contributions to productivity growth and reward them accordingly.
* When deciding a pay rise or bonus, give the low-wage workers a specified amount in dollars.
* Do more to help low-wage, contract and casual workers benefit from government initiatives, such as the Workfare schemes aimed at boosting their income and upgrading their skills.
* When hungry for workers, hire and retain older employees and encourage more women to return to work.
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With the new emphasis on productivity, the NWC called for future pay rises to be pegged to a company's productivity growth to maintain its cost competitiveness. -- ST PHOTO: TERENCE TAN
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THE National Wages Council (NWC) wants companies that are doing well to give their workers a pay rise, a recommendation that drew immediate support from employers' groups and the labour movement.
But the increase should be sustainable and tied to a company's performance and prospects, it added.
The NWC also suggested that companies that have yet to get back on their feet firmly or are facing cost pressures, give variable payments instead of a pay rise.
With the new emphasis on productivity, the NWC called for future pay rises to be pegged to a company's productivity growth to maintain its cost competitiveness.
These annual wages guidelines were announced yesterday and accepted by the Government.
The intent of this year's recommendation is to reward workers, especially for their sacrifices during the downturn, and to highlight the need to keep boosting productivity in order to maintain wage increases over the years.
Read the full story in Wednesday's edition of The Straits Times.
[email protected]
[email protected]
<!-- story content : end -->
'Give pay rise if you can'
It also calls for future pay rises to be pegged to productivity growth
<!-- by line -->By Kor Kian Beng & Cassandra Chew
<!-- end by line -->
<!--background story, collapse if none-->Key guidelines
* Companies to give wage increases in keeping with their business performance and prospects.
* Peg future pay rises to productivity growth.
* Introduce wage structures that are flexible.
* During wage negotiations, take into account the impending CPF increase as part of the total pay package.
* Set out clearly the key performance indicators that would take into account workers' contributions to productivity growth and reward them accordingly.
* When deciding a pay rise or bonus, give the low-wage workers a specified amount in dollars.
* Do more to help low-wage, contract and casual workers benefit from government initiatives, such as the Workfare schemes aimed at boosting their income and upgrading their skills.
* When hungry for workers, hire and retain older employees and encourage more women to return to work.
<!--end background story-->
<!-- end left side bar -->
<!-- story content : start -->
THE National Wages Council (NWC) wants companies that are doing well to give their workers a pay rise, a recommendation that drew immediate support from employers' groups and the labour movement.
But the increase should be sustainable and tied to a company's performance and prospects, it added.
The NWC also suggested that companies that have yet to get back on their feet firmly or are facing cost pressures, give variable payments instead of a pay rise.
With the new emphasis on productivity, the NWC called for future pay rises to be pegged to a company's productivity growth to maintain its cost competitiveness.
These annual wages guidelines were announced yesterday and accepted by the Government.
The intent of this year's recommendation is to reward workers, especially for their sacrifices during the downturn, and to highlight the need to keep boosting productivity in order to maintain wage increases over the years.
Read the full story in Wednesday's edition of The Straits Times.
[email protected]
[email protected]
<!-- story content : end -->
