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IT workers can expect a 6.8% raise next year
But only 15% are likely to be chosen for the increases.
Nine in ten or 92% of Singapore CIOs plan to raise their IT staff's salaries by an average of 6.8% next year, recruitment firm Robert Half revealed.
According to its new research, the increase is well above the national average of 41%. Meanwhile, CIOs plan to raise the salaries of 15% of their IT staff.
Of those Singaporean managers who are not planning to award salary increases, 67% say the main reason is a lack of financial resources or cost reduction, while 17% respectively cite their staff’s salaries are already at market rate and underperforming employees/teams.
Robert Half Singapore managing director Matthieu Imbert-Bouchard said, "“While wage growth in Singapore has remained steady over the past several years, Singapore’s IT leaders need to understand the value remuneration has in retaining their top performing talent. The city-state’s IT workers operate within a limited talent pool, are acutely aware of their market value and with highly sought-after skills are more inclined to leave an organisation if they are offered a more attractive remuneration package elsewhere."
He added that employers and employees can also consider other alternatives to increased pay.
"Workplace benefits, such as flexible working arrangements, additional leave and more professional development opportunities can be just as motivating to staff as an increase in salary," he added.
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