Business Solutions, Career and Enterprising

30% of Singapore employers intend to provide no wage increases in 2021

Singapore employees out for lunch

A global study of pay increases has found that 30 per cent of employers in Singapore intend to provide no wage increases in 2021. Compared to other countries, Singapore has a more significant percentage. Based on research done by global consulting firm Korn Ferry recently, around 16 per cent of firms worldwide aim to bypass pay raises completely this year. Across 150 nations, the wage survey gathered data from 25,000 companies.  Korn Ferry reported that roughly 450 organisations in Singapore were