Singapore Increment and bonus trend for 2014
JobStreet.com survey report
Online recruitment company JobStreet.com announced the survey result on increments and bonus pay-outs forecast for 2014.
Total 850 employers and 125 employers in Singapore took part in the survey feedback.
It revealed that the average bonus is expected to be 1 month (excluding the annual wage supplement) and that the average salary increment is likely to be 4.5%.
Here are some detailed findings:
- 14% of participated employers answered that the bonus would be 2 months.
- 22% of employers are planning to give a higher increment in 2014. 18% answered that they intended to give salary increments of above 7%.
80% of employees are expecting to receive salary increment this year.
45% of employees indicated that they would still look for better career opportunities outside of company despite receiving bonuses and increments that meet their expectations. Such factors as better remuneration packages, staff benefits, work-life balance and career advances seem to drive employees to make decisions whether stay or go.
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