Retail firms still need to improve non-wage perks to draw workers, say industry watchers
RETAIL firms hoping to attract more locals to join the sector with the roll-out of the Progressive Wage Model (PWM) would also need to improve non-wage factors such as progression and flexible work, industry watchers told The Business Times.
From Sep 1, retail workers will be paid a minimum monthly gross salary of S$1,850, with the amount set to rise 8.4-8.5 per cent each year over the next 3 years under the model.
But for a sector already squeezed by severe labour shortages, the wage hike alone may not be enough to draw locals, recruiters said.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Daily Debrief: What Happened Today (May 14)
‘We are prepared to relook everything’: Lawrence Wong on new leadership’s approach
Singapore’s Cabinet changes at a glance
Daily Debrief: What Happened Today (May 13)
Gan Kim Yong to become new DPM in Singapore’s Cabinet reshuffle; no changes to ministerial portfolios
Singapore’s 2023 tourism receipts hit S$27.2 billion, may hit record S$29 billion in 2024