is in line with market conditions, and could have a knock-on effect for private sector salaries, said human resources experts.
It highlighted in its press release that the civil service reviews its salaries to “broadly keep pace with, but not lead, the market”.Officers in the Management Executive Scheme , Management Support Scheme and Corporate Support Scheme will receive salary adjustments of between 5 per cent to 10 per cent, with higher adjustments for grades that have larger gaps with market benchmark.
For every unemployed person, there were 2.11 job vacancies as of December last year, according to statistics from the Ministry of Manpower. A year before, in 2020, the same figure was just 0.76. With the economy recovering and companies resuming expansion plans, there is now a “domino effect” where compensation for workers, suppressed in the past two years, is now bouncing back.She said that she has been seeing a median of 15 to 25 per cent wage increases, with 35 to 50 per cent jumps for jobs in demand, such as in IT and life sciences.
“The hike will likely hit SME companies the hardest as they have limited financial resources and usually take the lead from the government sector,” said Ms Teo.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
About 23,000 civil servants to get pay rise of between 5% and 14% from AugustAbout 23,000 civil servants will get a pay rise of between 5 per cent and 14 per cent from Aug 1 this year. This will allow the civil service to keep pace with the market and continue to attract and retain talent, the Public Service Division (PSD) said on Sunday (June...
Source: thenewpaper - 🏆 7. / 63 Read more »
About 23,000 civil servants to benefit from salary increases of between 5% and 14%SINGAPORE: The Public Service Division (PSD) on Sunday (Jun 5) announced it will adjust the salaries of officers in the Civil Service generic schemes and their related schemes with effect from Aug 1 this year. \u0022These adjustments will enable the Civil Service to continue to attract and retain its fair Becoming more and more stressful for the retirees who earn low salaries during the pioneering sacrificial yesteryears to pay for their daily breads today in the new high salary/high inflationary era. Does this include poly acad staff ?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
About 23,000 civil servants to get pay rise of between 5% and 14% from August14%!? Seriously?
Source: straits_times - 🏆 5. / 69 Read more »
23,000 civil servants to get 5-14% pay raise from Aug 1, as part of review to 'keep pace with market': PSDSINGAPORE — About 23,000 officers in the civil service’s generic schemes and their related schemes will get a pay raise from Aug 1 onwards, the Public Service Division (PSD) announced on Sunday (June 5).
Source: TODAYonline - 🏆 1. / 99 Read more »
Salaries of some civil servants to be adjusted to 'keep pace with the market': Public Service DivisionSINGAPORE: The Public Service Division (PSD) on Sunday (Jun 5) announced it will adjust the salaries of officers in the Civil Service generic schemes and their related schemes with effect from Aug 1 this year. \u0022These adjustments will enable the Civil Service to continue to attract and retain its fair Nurses n doctors, medics, and ppl who worked OT during covid rite? Mgmt execs and support do what sey? Those who work from home are not entitled, right? Nice. So when is the private sector gonna get adjusted ?
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
About 23,000 civil servants to get pay rise of between 5% and 14% from AugustAbout 23,000 civil servants will get a pay rise of between 5 per cent and 14 per cent from Aug 1 this year. This will allow the civil service to keep pace with the market and continue to attract and retain talent, the Public Service Division (PSD) said on Sunday (June...
Source: thenewpaper - 🏆 7. / 63 Read more »