Singapore employers not ready to offer higher salaries yet
Seventy percent of Singaporean job seekers say they find salaries offered by employers to be on the low end.
According to a job salaries survey conducted by a recruitment firm Hays, 35% of the 723 surveyed job seekers consider the salaries offered by employers below market rate with no room for negotiation, while a further 35% consider the salaries low but believe that they are negotiable.
“As candidates see that more opportunities are available and confidence in the market grows, they are adjusting their salary expectations,” says Chris Mead, general manager of Hays in Singapore.
However, Mead does not think the high expectations set by the job seekers will get them hired as he believes that employers are unlikely to raise salaries now. He says that salaries will not be significantly increased even when employers come across the right candidates.
“While widespread salary increases are not yet happening, employers are prepared to take other steps to help try to attract candidates. This includes improving benefits, offering bonus schemes, providing training and development and outlining clear career paths,” says Mead.
Nevertheless, Mead believes that employers should re-examine their offers so as to attract and retain competent candidates.
Sources and references: HRO, Hays