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Six in 10 in Singapore prepared to request pay rise amid labour crunch, inflation: Survey
SINGAPORE – Workers in Singapore have high expectations of being given a pay rise and are ready to push their employers to get it, as costs of living increase amid a sharp labour crunch.
Human resources services company ADP said on Thursday (May 5) its annual People At Work report found six in 10 workers in Singapore are prepared to request a raise.
The figure rises to seven in 10 for workers aged between 25 and 34, added ADP.
The company surveyed almost 33,000 workers across 17 countries worldwide last November for the latest edition of the report, which explores the attitudes employees hold towards work and their hopes for their workplace in future.
ADP, which is headquartered in the United States, said more than three-quarters of workers globally say they are likely to ask for a pay rise if they feel they deserve one.
The findings come at a time when Singapore faces record vacancies in the job market, with a high of 114,000 job vacancies last December, more than double the figure of 53,000 in December 2020, as companies struggle to fill positions to keep up with pent-up demand, particularly for the services sector.
ADP noted: “Globally, the cost of living is rising rapidly in many parts of the world amid high global inflation, which is expected to remain elevated for some time, and (it follows) two years of pandemic-related disruption to jobs.”
In its statement, ADP also said around five in 10 workers in Singapore expect to get a pay rise in the next 12 months and more than four in 10 expect to be given a bonus.
“This is despite only a third expecting to be given a promotion or any increased responsibility.”
The company said one reason that workers may feel they deserve a pay rise is the number of extra hours of unpaid work many of them are doing, by starting early, staying late, or working over breaks.
Four in 10 workers in Singapore reported feeling they put in between six and 10 hours of unpaid overtime work each week, said ADP.
Workers surveyed in Singapore reported working unpaid overtime of 8 hours on average.
Globally, ADP also found pay to be the most important factor to workers in a job, with almost two-thirds saying it is a priority, followed by job security (54 per cent), flexibility over working hours (33 per cent) and enjoyment of their work (32 per cent).
In Singapore, respondents place a higher-than-average importance on pay, with 71 per cent of respondents considering pay the most important factor, said ADP.
“Having worked hard through the pandemic and with more vacancies than job seekers in the current job market, many workers feel they need – and are entitled to – a raise,” said Ms Yvonne Teo, Asia-Pacific vice-president of human resources at ADP.
“Employers should bear this in mind in today’s tight labour market, where maintaining a stable and skilled workforce is paramount yet more challenging than ever.”
Added Ms Teo: “Employers have to reconcile the drive for higher wages with business continuity.
“Financial incentives alone are unsustainable in the long term and compensation can only get talent through the door.
“In addition to paying competitively and fairly, employee retention depends on many other factors.”
Source: https://www.straitstimes.com/singapore/jobs/six-in-10-in-singapore-prepared-to-request-pay-rise-amid-labour-crunch-inflation