As Singapore moves into a knowledge-based and highly-skilled economy, impaired by an ageing population and low birth rate, businesses are caught in between higher wage demand and a drying pool of talent. Yet wage growth continues to outstrip productivity growth for a large part of the last decade, according to data from the Manpower Ministry’s Statistics Yearbook. The real median wage of Singapore employees grew by 7% last year while productivity shrank by 0.1%.
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Building employee loyalty and support
Business producitivity
Conducive working environment
Costs
Customise employee retention strategies
Further operation costs
Generate benefits
Global perspective
Growth base on productivity increase
Innovative strategies
Race against wage pressure
Real average wage
Recruitment and training
Recruitment of top talent
Reduce employee turnover
Understanding employees needs
Work Life Balance