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More than half of Singaporeans think they are underpaid

Last year, one in five employees did not receive a bonus for their work contributions.

Over five in 10 employees in Singapore (53%) feel that they are not being fairly compensated for the work they are doing, a recent survey from Randstad showed.

Some (22%) workers were also unable to receive bonuses for their work contributions last year.

Of those who received bonuses (55%), 37% received one or less than a one-month bonus, and 45% received a two to three-month bonus.

Randstad Managing Director of Permanent Recruitment in Asia Pacific, Jaya Dass, warned employers that compensating talent is not an area where they “can afford to tighten their belts any longer.”

“If employers do not prioritise revising their internal salary bands to meet today’s talent expectations on salaries, they may run a very real risk of losing top talent,” Dass added.

Meanwhile, the survey also found that employees who seek higher compensation from other employers want at least a 20% increase in their salary.

A few (one in five) accepted a new job in the past 12 months with less than a 5% salary increment.

“Many job seekers we interacted with this year are asking for a 20% salary increase because it is a reasonable starting point for negotiations. However, they are also willing to lower their expectations if their other expectations can be fulfilled, like flexible work, medical insurance, career development and advancement opportunities, and a positive work environment,” Dass said.
 

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