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7 in 10 companies promote employees without pay rise |
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Singapore
SINGAPORE - Nearly seven in 10, or 68 per cent, of Singapore employers promote their staff without giving them a pay rise, making Singapore among the top three countries that often adopt this practice.
According to a survey of 1,800 human resource managers across 17 countries by recruitment firm Robert Half, Singapore comes in third after Chile at 76 per cent and China at 70 per cent.
In contrast, only 26 per cent of HR managers in Japan promote their staff without pay increases, with 66 per cent saying they would never use the practice.
According to the survey, 53 per cent of Singapore companies promote staff to more senior positions without a rise in salary because they prefer to offer a performance bonus instead.
Another 47 per cent prefer to offer their employees more flexible working hours. Additional annual leave is also offered by 35 per cent of HR managers in lieu of additional pay.
The firm said there are risks for companies offering a promotion without a pay rise, and employers should offer adequate compensation either through pay or other benefits to retain their staff.
Ms Stella Tang, Director of Robert Half Singapore, said: "While pay is not the only factor employees consider, if companies do not provide adequate compensation either through pay or other benefits, then they may lose their top performers to the competition."
If budget constraints mean no additional monetary compensation can be offered, the reasons why need to be clearly communicated, she said.
Today/Channel NewsAsia
14 June 2012
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