{"id":20471,"date":"2015-12-04T16:18:30","date_gmt":"2015-12-04T08:18:30","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=20471"},"modified":"2024-07-05T15:55:05","modified_gmt":"2024-07-05T07:55:05","slug":"survey-employees-look-forward-to-5-8-salary-increment-in-2016","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/survey-employees-look-forward-to-5-8-salary-increment-in-2016","title":{"rendered":"Survey: Employees Look Forward To 5.8% Salary Increment In 2016"},"content":{"rendered":"<p>According to Aon Hewitt\u2019s new salary survey, salary increment for employees in Malaysia are forecasted at 5.8% in 2016 \u2013 up from 5.6% in 2015. Aon Hewitt is a reward and talent practice lead in Malaysia.<\/p>\n<p>In 2015, performance-related bonuses increased slightly to about two to three months of annual base salary. This is projected to remain stable in 2016.<\/p>\n<p>Projected salary increases were highest in the telecommunications sector at 6.6%, followed by both transportation and construction at 6.2%. The lowest sectorial increments were hi-tech and hospitality sectors at 5.2%.<\/p>\n<p>Despite stable pay rises, Malaysia recorded South East Asia\u2019s second highest involuntary turnover at 6%, and the third highest voluntary turnover at 9.5%.<\/p>\n<p>According to the survey report, three factors that could be attributed to voluntary attrition include better external opportunities, further studies, and work life balance.<\/p>\n<p>Similarly, the three most popular measures to retain employees were pay above market, improved work life balance, and timely and meaningful feedback from managers.<\/p>\n<p>The survey also reports that employers are taking a \u201cwait and see\u201d approach to budgeting salaries, reflected in the average increase of 5.7% over the past five years. Voluntary turnover has trended down in 2015 at 9.5% from 12.2% in 2014, reflecting the volatility and instability of the market conditions in Malaysia.<\/p>\n<p>The report also found links between how economic trends such as the depreciation of the ringgit, the implementation of the GST, and the road toll hike are impacting employees.<\/p>\n<p>To cope with higher living costs:<\/p>\n<ul>\n<li>47% of organisations have revised their benefits programme in the last two years, particularly the medical limits and mileage claim.<\/li>\n<li>22% of organisations have plans of providing higher salary increases.<\/li>\n<li>7% are providing a one-off salary adjustment.<\/li>\n<\/ul>\n<p>The recent haze also made its mark, with 76% of organisations reporting an increase in medical claims and 72% pointing to an increase in medical leave.<\/p>\n<p>In light of these external factors, Aon Hewitt advised companies to ensure their rewards and monies are spent more prudently to get the biggest value for the money.<\/p>\n<p>Within South East Asia, the Philippines and Vietnam experienced the highest growth in 2015 at 6% and 6.5% respectively and are projected to continue to enjoy the highest growth in 2016.<\/p>\n<p><em>[<a href=\"http:\/\/www.humanresourcesonline.net\/employees-malaysia-bracing-5-8-salary-increment-2016\" target=\"_blank\" rel=\"follow no noopener\">Source<\/a>]<\/em><\/p>\n<h6><em>Image from ecommercemilo.com\u00a0<\/em><\/h6>\n<h3 class=\"product__name\"><strong>Enjoy up to 5% cashback on your petrol spending and\u00a012 months 0% interest for your road tax payment with\u00a0<a href=\"https:\/\/www.imoney.my\/credit-card\/ambank\/visa-platinum-carz-card\" target=\"_blank\" rel=\"noopener\" data-description=\"4\" data-region=\"Top 10 Non-Featured Card\" data-action=\"Click\">AmBank Carz Platinum Visa<\/a>!<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Aon Hewitt\u2019s new salary survey forecasts stable salary increment for employees in Malaysia at 5.8% in 2016. <\/p>\n","protected":false},"author":29,"featured_media":20473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[254,216],"tags":[],"class_list":["post-20471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income","category-news-updates"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Survey: Employees Look Forward To 5.8% Salary Increment In 2016 | iMoney<\/title>\n<meta name=\"description\" content=\"Aon Hewitt\u2019s new salary survey forecasts stable salary increment for employees in Malaysia at 5.8% in 2016.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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