What’s going on? Fuel is cheaper at the pump, hypermarkets are slashing their prices, and now a new report has revealed that Malaysian employees are getting more salary increases than everyone else in Asia, except the Chinese.
The Hays Asia Salary Guide, an annual survey conducted to gather the views of regional employers on salary policy, recruitment trends, and economic outlook, reports that 10% of employers in Malaysia are going to be awarding salary increases to their staff of 10% or more.
Another 33% of employers will be handing out raises of between 6% and 10%, while 9% of employers will award raises of less than 3%. Only one percent of employers will not be raising their employees’ salaries. The remaining majority of companies in Malaysia will be raising salaries by between 3% and 6%.
Hays Asia surveyed a total of 2,361 organisations across the continent, who collectively have 4,017,026 employees on payroll, for its survey.
The report also notes that Malaysian employers are giving our performance-based bonuses, in addition to pay hikes, to reward their best employees this year.
“The demand for highly skilled professionals is one reason why bonuses continue to remain popular. Employers who are unable to offer a significant salary increase to their top staff are also using bonuses as a way of rewarding and, hopefully, retaining their best people,” said Hays Asia managing director Christine Wright in a press release, as quoted by The Star Online.
Photo: charamelody / Flickr
Get Coconuts news delivered to your inbox! Subscribe to our newsletter below for a chance to win a limited edition Coconuts hat.
