Employee benefits

Singapore firms plan to dial back on raises, bonuses amid uncertainty: survey

Over one-fifth of companies intend to give out increments of less than 3%

Discussions around wage flexibility are already shaping how companies and employees adapt to changing business conditions in Singapore.

Why alternative pay cycles are turning into a financial necessity

On-demand pay helps workers meet routine and emergency expenses, without resorting to high-interest short-term debt

With some planning, personal and company insurance can work hand in hand to provide comprehensive and cost-effective protection.
MONEY MATTERS

Are you well covered by health insurance?

It is essential that you manage your personal and company insurance plans and employee medical benefits

How can you go about trading pay for perks?

Are employee benefits the new pay rise?

How can you negotiate your way to a benefits package that's anything but basic? Howie Lim finds out.

Work-life balance is also the key motivator for employees to switch jobs, the survey notes.

Singaporeans value work-life balance most in an ‘ideal employer’: Randstad survey

This remains the most attractive trait for a third straight year, ahead of salary and job security

Pay increments may be preferred, but alternatives such as flexible work arrangements aren't bad options either.
WORKING LIFE

Alternatives to pay rises becoming increasingly viable 

A large percentage of Singaporeans say a sense of meaning in their careers is important

British Prime Minister Keir Starmer says  his government “is committed to driving up living standards, improving productivity, and working in partnership with workers.”

Starmer pushes rights plan as Labour balances unions, business

The British PM outlines a new vision of “partnership” between companies and the unions

By being proactive and informed, you can increase your chances of securing a fair severance package that will help you weather any transition and land your next opportunity.

What a restructuring means for your job, and how to prepare for it

Employees can navigate such a situation by gathering clues about their company’s potential direction; this will help them make informed decisions about their careers and finances

Progressive companies already place employees at the centre of the decision-making process with flexible compensation models.

Re-examining the concept of employee reward to achieve optimal value

Pay, benefits, and workforce costs are one of the most significant outflows for organisations

The gesture is in line with recommendations from Singapore’s National Wages Council, for companies to help lower-income employees with the rising cost of living.

Singapore banks give junior staff one-off bonus amid rising cost of living

THE trio of Singapore lenders are giving their junior employees globally a one-time bonus amid cost-of-living concerns.