A latest survey found that half of the employees in Singapore expected the year 2012 to be financially more difficult than this year, but the majority of them still expect to receive a bonus and a pay rise at the end of 2012.
The results of the survey released on Wednesday by international human resources consultancy firm Randstad showed that 59 percent of the male employees believed the next year to be financially difficult.
This reflected growing uncertainty, as 2011 was regarded a financially tough year for their organizations by 48 percent of the male respondents.However, 85 percent of the male workers still expect to receive a bonus at the end of the year, compared to 81 percent for the female respondents, according to the Randstad Workmonitor report.Sixty-eight percent of the men and 71 percent of the women expect a pay rise at the end of next year.
Karin Clarke, regional director for Singapore and Malaysia at Randstad, said despite economic uncertainty in the eurozone, Singapore remained an employees' market given the country's low 2. 0 percent unemployment rate.
"Employers can expect to see continued upwards wage pressure in 2012. While the expectation for remuneration differs between the sexes, companies should equally apply the same talent retention strategies to both men and women," she said.
The survey conducted through online questionnaire covered 405 employees in Singapore.A separate survey of 480 Singapore-based companies conducted in September by management consultancy Hay Group also revealed that the employers expect a pay rise of 4.4 percent next year.The employees with the biggest rises this year were those in the banking and financial services sector, with an average gain of 7 percent.Next were those working in transportation, up 4.9 percent, followed by 4.6 percent for workers in the fast moving consumer goods sector.