Wages on the rise: 40% of firms plan on raising salary budgets

ASIA PACIFIC: Two in five employers across Asia Pacific plan to increase salaries in 2022, according to the latest Salary Budget Planning Survey report by Willis Towers Watson.

The report revealed that out of over 5,000 firms surveyed across the region, 42% were projecting an increase in salary budgets.

The projected increase was fueled by the ongoing tight labour markets, accordingto 30% of the employer respondents. 23% said the rise was based on anticipated stronger financial results this year. A further 19% of the survey respondents suggested rising salaries would be in response to inflation and the rising prices of supplies.

Indonesia, the Philippines, and Malaysia were expected to offer the highest wage increases this year, while Singapore was lowest on the list of Southeast Asian markets with an expected rise in salaries of just 0.3%.

4 views0 comments