2022 forecast: Employees expect to get higher salaries

MALAYSIA: Malaysia-based employees are projected to enjoy a 2.8% increase in their salaries next year, a jump from 1.5% this year.

This forecast is based on the Salary Trends Report of ECA International, an employee management data and software provider. The report analysed current and projected salary increases in more than 70 countries worldwide.

The study further indicated that Indonesia, Vietnam, and Thailand, are among the countries expected to see the fastest salary increases in 2022 as their economies rebound from the pandemic.

ECA International Asia regional director Lee Quane said that the economies of Indonesia and Malaysia suffered the most from the pandemic. But they are in for the biggest hike in salary growth rate in Asia-Pacific in 2022.

“If these countries are able to keep inflation under control in 2022, the improved economic outlook will mean that real salary increase rates for workers in these countries will be some of the highest in the region,” Quane said.

Based on the trend, Asia-Pacific workers were predicted to receive an average of 1.9% salary hike in 2022, higher than any other region.

The average global real salary increase forecast is only 0.9%.

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