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Employers should reward employees with fair and sustainable wage increases, said the National Wages Council (NWC) on Thursday (Oct 10). Companies that have done well should reward workers with built-in wage increases and variable payments commensurate wiEmployers should reward workers with fair, sustainable wage increases and adopt flexible wage scheme: National Wages Council
Employers should reward employees with fair and sustainable wage increases, said the National Wages Council (NWC) on Thursday (Oct 10). Companies that have done well should reward workers with built-in wage increases and variable payments commensurate with the firm's performance and employees' contributions, it added. While employers who have not done well may exercise wage restraint, they should focus on improving business processes and productivity, especially by upskilling their employees. The above are part of the NWC's recommendations for wage guidelines for the period from December 2024 to November 2025. In a press conference on Thursday, NWC chairman Peter Seah said that NWC has adopted a more «positive tone» for this year's guidelines, while balancing caution and optimism. «This is consistent with the NWC’s long-standing principle that wage growth should be in line with productivity growth,» he said. The council's guidelines take into consideration the sustained productivity growth, as well as Singapore's improved economic outlook and expected moderate inflation. Read more
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