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Wages are expected to rise 4.2 per cent this year with the pay of lower skilled workers likely to increase too due to tightened foreign worker policies, a new survey has found.
The good news is because most firms remain "cautiously optimistic" of their business, according to findings by the Singapore Human Resources Institute (SHRI) and wage consulting firm Remuneration Data Specialists (RDS).
These sentiments were reflected in moderate wage increases, bonuses and recruitment plans, culled from a poll in June of 147 companies.
The firms include both multi-nationals and small and medium-sized enterprises and are from sectors like manufacturing and services.
The good news is because most firms remain "cautiously optimistic" of their business, according to findings by the Singapore Human Resources Institute (SHRI) and wage consulting firm Remuneration Data Specialists (RDS).
These sentiments were reflected in moderate wage increases, bonuses and recruitment plans, culled from a poll in June of 147 companies.
The firms include both multi-nationals and small and medium-sized enterprises and are from sectors like manufacturing and services.
