{"id":28217,"date":"2017-01-27T11:08:00","date_gmt":"2017-01-27T03:08:00","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=28217"},"modified":"2017-01-27T11:10:32","modified_gmt":"2017-01-27T03:10:32","slug":"lower-salary-increments-malaysian-employees-2016","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016","title":{"rendered":"Lower Salary Increments For Malaysian Employees In 2016"},"content":{"rendered":"

Malaysian employees looking forward to a hefty increment this year will likely be disappointed.<\/p>\n

The Aon Hewitt\u2019s 2016 Total Compensation Measurement (TCM) Survey<\/em> found that the local pay raise have declined by 0.4% to 5.2% in 2016.<\/p>\n

This is a hard pill to swallow for many, especially with the rising cost of living exacerbated by the weak currency and also the introduction of Goods and Services Tax in 2015.<\/p>\n

The higher food prices have pushed the inflation up by 1.8% in December 2016<\/a>, and the lower salary increment means lower real wages for the workforce in the country.<\/p>\n

\u201cAs a result, employers are pressured to rework their compensation packages to engage their talent more effectively. Performance-driven reward systems will also become the norm, and place a premium on an organisation\u2019s most effective performers,\u201d the survey stated.<\/p>\n

However, it\u2019s not all gloom and doom. For those in managerial roles in strategic planning, they were found to earn RM2,500 more than all other managers across functions in Malaysia.<\/p>\n

Finance managers and HR managers in the high-tech industry also saw higher pay with 16% and 21% more than the market midpoint respectively.<\/p>\n

\u201cThis is further evidence that this industry as a whole more readily invests in their people as an invaluable asset to the organisation,\u201d the report noted.<\/p>\n

Fresh grads may struggle financially as the survey found that more than half of the fresh graduates entering employment earned less than RM2,500 per month.<\/p>\n

Unless they are in the high-tech and engineering-related fields, where salary outlooks remain optimistic.<\/p>\n

Those who take up engineering, R&D and project management roles were offered the highest starting salaries \u2014 more than RM3,500 per month \u2014 while those in high-tech industries were paid 27% more than those in property and construction.<\/p>\n

\u201cFresh graduates, while inexperienced, are digital natives that possess relevant skills in today\u2019s market, and will be key to success in the future of work.<\/p>\n

Furthermore, these economically challenging times have placed great pressure on Malaysian businesses to redefine their talent needs. The workforce demographic is being reshaped year on year, and employers don\u2019t hesitate to pay for critical talent,\u201d said Prashant Chadha, managing director, Aon Hewitt Malaysia.<\/p>\n

[Source<\/a>]<\/em><\/p>\n

Image from Liz McInnes.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

You may need to tighten your belt even more. <\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[312,254,216],"tags":[],"class_list":["post-28217","post","type-post","status-publish","format-standard","hentry","category-career","category-income","category-news-updates"],"acf":[],"yoast_head":"\nMalaysian Employees Get 5.2% Pay Raise In 2016<\/title>\n<meta name=\"description\" content=\"That's 0.4% lower than the pay raise in 2015!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lower Salary Increments For Malaysian Employees In 2016\" \/>\n<meta property=\"og:description\" content=\"You may need to tighten your belt even more.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-27T03:08:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-01-27T03:10:32+00:00\" \/>\n<meta name=\"author\" content=\"Iris Lee\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Iris Lee\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016\",\"url\":\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016\",\"name\":\"Malaysian Employees Get 5.2% Pay Raise In 2016\",\"isPartOf\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\"},\"datePublished\":\"2017-01-27T03:08:00+00:00\",\"dateModified\":\"2017-01-27T03:10:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/f86e2ec4d5692a05a39fb4cb52172a0e\"},\"description\":\"That's 0.4% lower than the pay raise in 2015!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.imoney.my\/articles\/lower-salary-increments-malaysian-employees-2016#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.imoney.my\/articles\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Career\",\"item\":\"https:\/\/www.imoney.my\/articles\/category\/career\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Lower Salary Increments For Malaysian Employees In 2016\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#website\",\"url\":\"https:\/\/www.imoney.my\/articles\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.imoney.my\/articles\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/f86e2ec4d5692a05a39fb4cb52172a0e\",\"name\":\"Iris Lee\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/89fc1c51fb24674b88dad0ab7c033d0f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/89fc1c51fb24674b88dad0ab7c033d0f?s=96&d=mm&r=g\",\"caption\":\"Iris Lee\"},\"description\":\"As the former group editor of iMoney, Lee enjoys writing about various topics on personal finance, including property and insurance. 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