NWC says firms should grant wage rises reflecting strength of economy

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SINGAPORE : The National Wages Council (NWC) 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.

The Ministry of Manpower, NTUC, National Employers Federation, the Chinese Chamber of Commerce & Industry endorsed the National Wages Council's guidelines for 2011 and 2012.

ORIGINAL SOURCE

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