Employees are not happy this year. Why? Cos’ many did not get their increments. According to Malaysian Employers Federation (MEF) salary survey, out of the 212 companies surveyed, only 56% gave out increments this year. It’s a whopping drop as compared to last year at 81%.
Also down was the quantum of increase given. The average salary increase is as follows:-
Non-executives – 5.22% (5.69% in 2008)
Executives – 5.36% (6.09% in 2008)
Read further:-
MEF
The Star
The figure is not really a shock to many as this had more or less expected due to the economic downturn.
Rather, the more pertinent question on everyone’s mind is this: When will the economic downturn be over so that we can have the salary increments and bonuses back?
Is there a silver lining?
There are signs of recovery in the country’s exports with regional trade picking up the slack from traditional export markets, said Federation of Malaysian Manufacturers president Tan Sri Mustafa Mansur.
Although it may be too early to say that the global recession has ended, numerous indicators are suggesting that the downturn is somewhat subsiding. Massive national fiscal stimuli and monetary expansions have largely aided the gradual recovery….(MIER)
We all hope for a rising, but the only rising we got so far is the floods on the East Coast.
2010, how is it going to be?
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