Singapore Markets close in 7 hrs 18 mins

3 in 4 Singaporeans expect a salary increase in 2013

But will they really get it?

According to Randstad’s latest Workmonitor Report for Q4 2012, three in four (76%) employees in Singapore are expecting a hike in their salary in 2013. The figure is higher than in 2012, with seven in 10 (70%) employees citing they received a pay increase this year.

The findings were revealed as part of a global survey of 14,780 employees from 32 countries.

Randstad Director for Singapore, Mr. Michael Smith said this sentiment is in line with the stable financial performance of businesses in the country, with three- quarters (78%) of employees surveyed indicating their company performed well this year despite the global economic challenges.

“Employees are telling us that they worked harder and longer in 2012. They are seeing their businesses continue to record growth and are looking to be compensated for their contribution toward this,” said Mr Smith.

The survey of 405 employees in Singapore also revealed that half (51%) of employees expect to receive a gift this year, such as a Christmas package or gift voucher. However, less (43%) employers usually do so.

Mr Smith added, “Providing extra benefits at the end of the year will go a long way towards building employee morale in the workplace. For some companies,financial incentives might not be possible but there are other creative options that companies can investigate, such as providing in-house training and development opportunities, or a day off in-lieu.

“In the current environment, Singapore’s skilled talent have more choices. If they don’t feel their work is valued by their employer, they’ll look for another employer who does.” The survey also found that nearly all (90%) respondents want a better work-life balance in the upcoming year.

“The issue of work-life balance in Singapore is not a new one but what these findings tell us is that still not enough is being done to address it. In 2013, a concerted efforts needs to be made on both the employers’ and employees’ behalf to raise productivity in the working environment. It could be as simple as setting internal deadlines and looking at developing more efficient working processes.”

The survey also found that sentiment about the economy outlook is higher in Singapore than every other country surveyed, with only 30% of respondents agreeing the outlook is ‘bad’, in stark contrast to respondents in Greece (98%), Spain (97%), Italy and Hungary (94%). 

More From Singapore Business Review