\n<\/p>\n
She said that she has been seeing a median of 15\u00a0to 25 per cent wage increases, with 35 to 50 per cent jumps for jobs in demand, such as in IT and life sciences.\u00a0<\/p>\n
\u201cWhat the Government has done is actually, I would say, a bare minimum for government jobs and definitely not in the front of it, to say that they are offering the most generous increments, (but) it\u2019s at least getting them up to a level playing field with external markets,\u201d said Ms Dass.<\/p>\n
And this could mean further adjustments to wage levels in the market, analysts said.<\/p>\n
Said Ms Dass: \u201cThe Government coming out and announcing it like that is definitely letting the cat out of the bag \u2026 The next domino effect would be people going out there and demanding (salary increases).<\/p>\n
\u201cBut whether you state it or not, it’s already happening in the commercial private sector.\u201d<\/p>\n
Mr Peter Hamilton, APAC\u00a0vice president and\u00a0managing director at KellyOCG, said that it is\u00a0possible to see a \u201cripple effect\u201d on the rest of the market, forcing employers to also review their compensation and benefits in other areas.<\/p>\n
ManpowerGroup\u2019s Ms Teo said that this \u201cindirectly sets a benchmark\u201d for companies in the private sector and will affect small- and medium-sized enterprises (SME).<\/p>\n
\u201cThe hike will likely hit SME companies the hardest as they have limited financial resources and usually take the lead from the government sector,\u201d said Ms Teo.\u00a0<\/p>\n
\u201cEmployers who are unable to meet the increased salary demands and hire the people they need might end up relocating their operations to countries with lower labour costs in order to manage their bottom line.\u201d<\/p>\n
The experts emphasised that pay was not the only factor here. Mr Hamilton said that besides reviewing the compensation and benefits for employees, it is important to look into employee experience, mental wellbeing and health.\u00a0<\/p>\n
He said that globally, 37 per cent of employees\u2019 expectations have changed since the pandemic, citing KellyOCG\u2019s global Re:Work survey.\u00a0<\/p>\n
They have higher expectations around work-life balance, flexible working arrangements, benefits and support for their wellbeing, said Mr Hamilton.<\/p>\n
\u201cThis figure is higher in Singapore at 43 per cent, reinforcing the need for Singapore businesses to take prompt action for a more talent-centric attraction, engagement and retention strategy,\u201d he said.
\u00a0
\u201cCompensation aside, there could also be a higher demand or acceptance for workforce agility or flexible work arrangements.\u201d<\/p>\n
Singapore’s\u00a0Public Service Division has said that it will increase efforts to provide officers with meaningful career opportunities and support officers\u2019 growth and development with job attachments, structured job rotations, formal training and project work. It has also introduced hybrid work arrangements and flexible work options.<\/p>\n
Ms Dass of Randstad\u00a0said that the civil service can also \u201ctake a stand\u201d in these aspects and help set a benchmark for the private sector.<\/p>\n
\u201cI think there needs to be some mandated guidelines around how much flexibility companies need to offer, and also some \u2018sticks\u2019 that catch employers out for offering bad working conditions to employees,\u201d she said.<\/p>\n<\/div>\n