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46% of organisations in Singapore planning to give a pay increase to majority of staff in 2021
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Published: 07 January 2021
A significant number of organisations globally are planning to skip providing salary increases to a majority of their employees in 2021, revealed a new Korn Ferry survey. 
These sentiments were echoed by organisations in Singapore. Only 46% said they are planning to give an increase to at least 9 out of 10 staff in 2021. At the same time, a significant 30% were planning for no increases.
Of the companies in Singapore that are planning for pay rises, the headline salary increase stood at 3.0%, excluding inflation and respondents who indicated 0% increases. While, real salary increase expected is 2.1%, significantly lower than the 3.1% increase implemented for 2020 (excluding inflation and respondents who indicated 0% increases). ....

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