Study: Singapore employers plan to hike pay, give bonuses

SINGAPORE: The majority of employers in the country intend to raise salaries and give bonuses to their staff this year, according to the 2022 Hays Asia Salary Guide survey.

The survey shows that about 84% of employers are looking into increasing wages, while 69% plan to give bonuses as the country's growing economic stability signals a likely increase in business activities over the rest of 2022.

However, many employees are expecting salary increases higher than what their employers say they are prepared to give.

“Given the skills shortages and rising competition for talent, companies that intend to hire in the coming months will need to manage this expectation gap with care,” advised Hays Regional Director Kirsty Hulson.

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