Employers of lower-wage workers earning up to $2,500 in gross monthly wage should give salary increases of 5.5 per cent to 7.5 per cent to these workers, said the National Wages Council (NWC). Employers who have done well should offer these workers a raise of at least $100 to $120, even if it is higher than the percentage range stipulated, the NWC said on Oct 10 in its annual guidelines on pay and employment issues.
As for employers who have not done well, the council recommended providing lower-wage workers a built-in wage increase at the lower end of the stipulated percentage range, but that they should consider further wage increases if business prospects improve.
For workers at large, the council recommended that employers who have done well reward their employees with wage increases and variable payments such as bonuses or one-off payments tied to employers' performance and employees' contributions.
The guidelines, which were accepted by the Government but are not mandatory, cover the period from Dec 1, 2024, to Nov 30, 2025. They apply to all employees in unionised and non-unionised firms in both the public and private sectors.
The guidelines come amid an expected moderation in inflation, an improved economic outlook and sustained productivity growth over the longer term. However, there is still the risk of intensified geopolitical conflicts and financial conditions remaining tighter for longer, the council added.
Core inflation in Singapore eased to 3.1 per cent year on year for the first half of 2024, down from the 4.2 per cent recorded in 2023.
Denne historien er fra October 11, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 11, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Jung Ho-yeon takes on Hollywood in Disclaimer
The drama series marks the Squid Game star's first English-speaking role
French pianist Helene Grimaud plays with time
Acclaimed French classical pianist Helene Grimaud, who has earned a reputation for playing by her own rules, thinks there should be no contradiction between freedom and fidelity.
Eisner Award winner submitted her comic as practice
Erica Eng submitted her web comic Fried Rice for the Eisner Awards on a whim in 2020.
Two-time Booker Prize nominee almost gave up writing
Acclaimed Canadian novelist Esi Edugyan has had first-hand encounters with the vagaries of the publishing and book-selling worlds.
A frank, and funny, work about the female body
Cat Bohannon wrote her best-selling non-fiction debut Eve: How The Female Body Drove 200 Million Years Of Human Evolution (2023) while also having two children, completing a doctorate and surviving the Covid-19 pandemic.
SILAT WILL MOVE 'UPHILL'
SSF chief plans to improve governance, selection process and coaching quality
One C'ship lets go of 'a few dozen employees'
Mixed martial arts (MMA) organisation One Championship has laid off a number of employees - including those from its Singapore headquarters - on Oct 16.
EPL pays highest price for injuries
Players in Germany's Bundesliga are most likely to be injured among Europe's top five domestic leagues, but the English Premier League bears the most injury-related costs, according to a report published on Oct 16.
Cantona slams 'scandalous' decision to axe Ferguson
Manchester United's most successful manager Alex Ferguson will step down as a global ambassador after the club's part-owners Ineos ended his multi-million pound contract.
PROFLIGATE PORTUGAL LACK MAGIC: COACH
Martinez's men can't find way past stubborn Scotland, but have one hand on q-final spot