source<\/a><\/p>\n PETALING JAYA<\/b>: Employees may not enjoy the same salary increase and bonuses they received this year come 2008. <\/p>\n
This was revealed in the Malaysian Employers Federation (MEF) Salary and Fringe Benefits Survey for Executives and Non-Executives 2007 here Thursday. <\/p>\n
\nSpeaking during a conference, MEF president Datuk Azman Shah said this was due to various uncertainties in the global market. <\/p>\n
\n"Increasing oil prices and costs, coupled with business uncertainties in the global market, are making a huge impact. <\/p>\n
"Our findings have forecast that both salary increase and bonuses for executives and non-executives may not match that of 2007," said Azman. <\/p>\n
\nThe survey was carried out among 233 companies nationwide who are members of the MEF. <\/p>\n
Azman said on average, employees were looking at a 5.74% (non-executive) and 5.69% (executive) salary increase next year compared to 6.25% and 5.77% respectively this year. <\/p>\n
"Even the average forecast bonus in 2008 for non-executives and executives is lower by 0.26 months and 0.31 months respectively compared to 2007," he said. <\/p>\n
\nThere was, however, some good news for employees in several industries. <\/p>\n
The survey forecast that executives in the construction, banking, petroleum, electrical and diversified industries will receive a high salary increase, as will non-executives in diversified, wholesale, business services, electrical and petroleum industries. <\/p>\n
Azman said the survey also found more companies adopting performance-linked wage systems, rather than just focusing on seniority. <\/p>\n
\nHowever, he warned that a high monthly turnover of employees could be expected next year. <\/p>\n
He attributed this to the tightening of markets, more professionals being snapped up by foreign firms and a surplus in foreign workers. <\/p>\n
Azman later launched two MEF publications – The Analysis of Collective Agreements and Awards On Terms and Conditions of Employment 2006; and Leave and Absenteeism in Employment (Cases, Commentary and Materials). <\/p>\n<\/p>\n
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
well, one thing that will affect us regardless of skin color and religion would be this news! Less pay, bonuses for employees next year source PETALING JAYA: Employees may not enjoy the same salary increase and bonuses they received this year come 2008. This was revealed in the Malaysian Employers Federation (MEF) Salary and Fringe […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[35,302,111],"class_list":["post-848","post","type-post","status-publish","format-standard","hentry","category-borninmalaysia","tag-foreign-workers","tag-religion","tag-survey"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=848"}],"version-history":[{"count":0,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/848\/revisions"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}