On average, employees in South Korea start to earn more than they spend at age 27, before this turns into a deficit at age 61.
The government is also continuing to introduce measures to encourage employers to increase wages for their employees.
When introduced, the new legislation will allow employees from across different workplaces to collectively negotiate pay rises.
The Employers’ Confederation of the Philippines has called on the government to provide more inclusive measures to manage economic problems.
Uber Eats is challenging the decision, maintaining that delivery staff are not part of the labour force but are customers using the platform’s service.
In line with the current challenge of attracting and retaining the best talent, employers should consider strategies that address employees’ current needs.
In the Philippines, all businesses are obligated to pay their employees their 13th month’s salary by December 24, 2022.
The wage subsidies are available to local businesses experiencing revenue decline of 10% or more due to the pandemic.
This represents on-going efforts to provider better protection for the growing number of platform workers in the country.
Employees in Australia are clocking six weeks of unpaid overtime hours each year and are finding it hard to disconnect from work.
Employees can also expect their salaries to be further raised in 2023, predicted the Malaysian Employers Federation.
Companies operating in the Asia-Pacific region recognise that they need to improve their employee benefits strategy to hire and retain top talent.
A number of unions are gearing up to campaign for both menstrual and menopause leave for female employees.
Hybrid work, the rising cost of living, and uncertainty about the future are all stress factors for employees in Singapore.
A change-ready culture driven by the behaviours and performance of leaders is pivotal to manage disruption and prepare employees for change.
One in three employees in Japan currently have a side job or have had one in the past, as employers are encouraged to support this practice.
Adjustments to the minimum wage are determined by combining inflation, economic growth, and the productivity at work factor of respective provinces.
Josh Bersin describes the seven key principals that can help organisations create successful business strategies.
Hong Kong has approved HK$12.1 billion (US$1.5 billion) in wage subsidies for eligible employers and employees.
A dedicated advisory committee has been reviewing protections for these workers under Singapore’s pension scheme.
Efforts are ongoing to create employment opportunities for South Korea’s elderly population, which is expected to reach 10 million by 2025.
As employers consider wage hikes, they should also develop employees' skills and redeploy them, said Singapore’s Senior Minister of State for Manpower.
Inflation in the Philippines reached an all-time high of 7.7% in October, which has impacted the purchasing power of workers’ wages.
The discourse comes as a special committee continues to study recommendations and ways to strengthen protections for gig workers in Singapore.
Multi-employer bargaining, as outlined in a new bill, allows employees from different workplaces to collectively negotiate pay rises.
These include addressing wage inequality and providing more childcare support, as well as upskilling and reskilling opportunities.
Wage guidelines for lower-wage workers have been set between 5.5% and 7.5% with the goal of narrowing the pay gap.
The inflation-adjusted remuneration of employees in Taiwan fell in September, despite an increase in salaries over the same period of the previous year.
Besides raising the minimum wage in July, pensions and social insurance benefits for retirees will also increase by 12.5% in January 2023.
Employees in Singapore prioritise stability and job security over salary, while good leadership is key to retain talent and maintaining employee wellbeing.