SINGAPORE - Employers are preparing to pay workers more as the economic outlook improves and to offset two looming threats to Singapore's recovery: inflation and a talent crunch.
Bosses plan to offer average pay rises of 3.8 per cent this year, up from 3.4 per cent in 2021, noted a survey that polled 456 local firms last October and November.
The anticipated salary hike here falls below the average 5.08 per cent that will be offered by companies across the region, but Singaporean workers are still ranked among the best paid in total compensation.
