1 in 4 Singapore employers plan to freeze salaries next year: Survey
- Posted by: vitu
- Category: Uncategorized
SINGAPORE (THE BUSINESS TIMES) – About a quarter of organisations in Singapore plan to introduce or continue with salary freezes in 2021, a tad fewer than the 30 per cent that paused wage increments this year.
As for pay cuts, about 3 per cent of employers said they intend to implement them next year, compared with the 29 per cent who made salary reductions this year.
However, most employers are taking a wait-and-see approach, as they continue to tread with caution on salary increments while navigating the impact of the coronavirus pandemic.