Firms should grant wage rises reflecting strength of economy
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SINGAPORE : The National Wages Council has recommended that companies should grant higher total wage increases that reflect the strength of the economy and the performance and prospects of companies.
It adds that companies could also consider giving a one-off special lump sum payment to workers to help them cope with the rising cost of living.
In its 2011-2012 guidelines, the NWC also says that depending on the company situation, employers can make greater use of variable payments to reward workers for their contributions, instead of granting higher built-in wage increases.
It says that in wage negotiations, companies and unions should take into account the increase in employers' CPF contribution rate and CPF salary ceiling in September 2011.
NWC notes that the 'Grow and Share' package adopted by the government in Budget 2011 will significantly help workers offset the rise in inflation this year.
Although it says inflation is not expected to be as high as in 2008, "some companies may wish to further help their workers cope with the higher cost of living".
It says that in this regard, companies could consider giving a one-off special lump sum payment.
NWC has also urged companies to put a greater and sharper focus on raising productivity.
- CNA/ch -
Actually, why do we need this NWC for?
Everything they say is common sense for all companies.
Pay more if doing well, pay less if doing not too well.
If companies need to listen to the recommendations of the NWC and act on their advice, then I worry about how the company is run.
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we should create nuclear plants. then its time to go to war
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Originally posted by troublemaker2005:
we should create nuclear plants. then its time to go to war
The high cost of living will destroy Singapore faster than any nuclear disaster.
That's how bad the situation is now.
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lol during GE... nice timing... wonder if will be so generous normally...
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lol during GE... nice timing... wonder if will be so generous normally...
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how come they say wanna increase this slary and dat fixed deposit during election time ? during normal days with no election they end up saying wanna shove spurs up yer hides and sleeping most of time!!! like dat i suggest make election a half yearly affair!!!:)change the amendement or what sai contract they sign with the people in holding elections!
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Useless of NWC to say that, wages are set by private sector companies, with an elastic labour supply (always importing foreign talent), how do you expect wages to rise.
If Singaporeans find the job not paying enough to cover their livelihood, they don't take up the job, then the job goes to another foreign talent.
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IN THAT CASE ALL JOBS IN SPORE CEPT MINISTERS ,MANAGERS ALL TAKEN UP BY FOREIGNERS CUZ ALL JOBS IN SPORE HAVE LOW SALARY.
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why we need 'foreign talents'. according to the latest speech tagged to the time before this post, 'its because we SINGAPOREANS lack the SKILL so they have to come'. when i come to this world i know nuts, not even how to fuck angie. so we work and educate and learn to agin skill. its it indirectly implying that our trainging and education is inediquate to allow us to perform the jobs over these 'talents'? good most of these 'talents' cannot evne speak proper englisch, not even an ITE recognised certificate. this is what i call, biting our own words.
the bottom line is - they are CHEAPER, if by bun luck they can be a little BETTER than SGREANS, bosses can pressurzie them to be FASTER.
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Wage hikes this year will be higher than inflation rate
WAGES this year will go up by more than last year's increase, said labour chief Lim Swee Say on Saturday, a day after the National Wages Council (NWC) released its recommendations for the year.
The NWC on Friday recommended higher wage increases in line with stronger economic performance and a one-off lump sum payment to help workers better cope with the higher cost of living.
Mr Lim told reporters after attending several community events in East Coast GRC, that the total wage increase this year is also expected to be higher than the inflation rate, which is expected to come in at around four per cent overall.
He is anchoring the People's Action Party (PAP) five-member team, who includes Transport Minister Raymond Lim, Minister of State Lee Yi Shyan, Senior Parliamentary Secretary Maliki Osman and one-term MP Jessica Tan.
The Workers' Party's (WP) team contesting the GRC comprises Mr Eric Tan, Mr Png Eng Huat, Mr Gerald Giam, Mr Mohamed Fazli Talip and Ms Glenda Han.
-- ST
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the wage increase slogan has been mooted for donkey years...
let this be the 11th hour chants...
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Originally posted by QX179R:Wage hikes this year will be higher than inflation rate
WAGES this year will go up by more than last year's increase, said labour chief Lim Swee Say on Saturday, a day after the National Wages Council (NWC) released its recommendations for the year.
The NWC on Friday recommended higher wage increases in line with stronger economic performance and a one-off lump sum payment to help workers better cope with the higher cost of living.
Mr Lim told reporters after attending several community events in East Coast GRC, that the total wage increase this year is also expected to be higher than the inflation rate, which is expected to come in at around four per cent overall.
He is anchoring the People's Action Party (PAP) five-member team, who includes Transport Minister Raymond Lim, Minister of State Lee Yi Shyan, Senior Parliamentary Secretary Maliki Osman and one-term MP Jessica Tan.
The Workers' Party's (WP) team contesting the GRC comprises Mr Eric Tan, Mr Png Eng Huat, Mr Gerald Giam, Mr Mohamed Fazli Talip and Ms Glenda Han.
-- ST
I LOL when I read this.
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is the economy really so good?
or is it just the casino and properties that is inflating the figures?
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Originally posted by dragg:
is the economy really so good?
or is it just the casino and properties that is inflating the figures?
How dare you doubt the news and reports that are being released during election time?
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WAGE INCREASE??SHOW US THE MONAY FIRST!
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IF TOO LITTLE $$$$ ITS SAYONARA!
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This council is as useless as the one with the public transport as they used statistic from no where to tell you to be cheaper and you need to pay more for transportation.
Useless as they never fight for the cause of the people.
The real intention is for every one to see as only certain group of people have benefitted from their recommendation.
They are just a tool and excuse used by one party to ask the people to be cheap.
Strange enough, cheaper, better and faster were never applied to the elite who penned them.