While compensation is still important for employees, work flexibility and career development opportunities are increasingly being prioritised.
Wage adjustments are typically made once a year, but wage boards are considering another hike after its recent wage adjustment amid soaring prices.
This will not apply to employees who are already enjoying such benefits and those who are employed in organisations with fewer than 10 employees.
About 44% of employers see an increased need to retain older employees in the workforce and expect this to be a key trend over the next five years.
A corporate tax reduction will improve cash flow that can then be directed to employment and investments, say the lobby groups.
Some companies are providing “inflation allowances” to help employees cope with rising consumer prices as labour officials call for more permanent support.
A projected salary increase of 4.5% across all industries can be expected for the next two years as companies offer higher wages to attract talent.
Employers are also urged to set clearer policies on flexible work to develop more comprehensive workforce strategies.
It identified young employees, workers with children, and non-permanent employees as those who are most vulnerable to inflation.
Nearly one in four HR leaders expect to maintain a 90-100% remote workforce, while half expect to maintain a remote workforce of 50% or more.
The Manpower Ministry is still finalising details on workers’ minimum wage in 2023, which will be announced at the end of November this year.
The Department of Labour and Employment (DOLE) is set to issue an advisory to employers regarding the grant of 13th-month pay for private sector workers.
Such clauses have traditionally been used to stop co-workers from comparing their wage package and pushing for pay hikes.
Tony Tran, Lead People Scientist, Culture Amp, explains why effective performance management can help create happy and productive employees.
As part of the new legislation, flexible work will be made more accessible to employees who are parents or care givers, among others.
Such digital wallets will have a maximum balance of 1 million yen, and employees can use the funds to make purchases or remittances directly.
Under the Fair Pay Bill, workers will gain a right to a minimum level of training and development from their employers.
From July 2023, parents hoping to qualify for the extended parental pay scheme will be assessed on their combined income.
The new legislation is intended to support low-paid employees, particularly women, in negotiating better pay packages and working conditions.
Bringing the informal workforce into formal pension systems has been a question facing pension systems around the world.
To better protect employees’ mental health and wellbeing, the Senator committee is advocating for new protections for flexible work.
A presidential advisory group has called for flexibility in implementing the 52-hour workweek which was first adopted in 2019.
The paid parental leave scheme (PPL) will increase by two weeks every year from 1 July 2024 until it hits the full 26 weeks in July 2026.
The Minimum Wage Commission reached a consensus last Thursday to raise the minimum wage to HK$40, a 6.7% increase.
Recent research has shown that employees would choose a hybrid work arrangement over any pay increase offered by their employer.
Recommendations to improve the working conditions, as well as physical and financial health of gig workers, are expected to be finalised soon.
Retired Australian women typically have 23.1% less in their pension accounts than men, said the Association of Superannuation Funds of Australia.
Employers will be given cash incentives to hire disabled people, women who are looking to enter the workforce and former convicts.
80% of workers who are earning more than the average salary think they are paid less than or the same as market rates.
A “motherhood penalty” sees earnings fall by an average of 55% in the first five years of parenthood, according to new analysis by Australia’s Treasury.
