PETALING JAYA: Good news for empÂloÂÂyees â€“ Malaysia not only ranked second to China in salary increases in Asia, they can look forward to a pay rise of between 3% and 10% or more.
Under the newly released annual findings of the Hays Asia Salary Guide, 10% of employers in Malaysia intend to award more than 10% salary increases for the upcoming review to their employees.
Another 33% of employers will award between 6% and 10% in increments.
The majority, however, will give a hike of between 3% and 6% while 9% is set to offer less than 3% raise. Only 1% of employers will not increase salaries.
According to last yearâ€™s reviews, 3% of employers did not increase salaries of their workers; 9% gave less than 3%; 48% of employers raised between 3% and 6%; 31% of employers increased between 6% and 10%; 9% gave more than 10% in increment.
Each year, a survey is conducted by Hays to gather employersâ€™ views on salary policy, recruitment trends and economic outlook.
A total of 2,361 organisations, representing 4,017,026 employees from across Asia, took part in the 2015 survey.
The salary guide also revealed that employers in Malaysia were using performance-related bonuses, in addition to salary increases, to reward their top performers this year.
Hays Asia managing director Christine Wright highlighted that there was a good chance employees had or would soon receive a competitive bonus if they and their company was performing well.
â€œThe demand for highly skilled professionals is one reason why bonuses continue to remain popular. Employers who are unable to offer a significant salary increase to their top staff are also using bonuses as a way of rewarding and, hopefully, retaining their best people,â€ said Wright in a press release yesterday.-The Star