Southeast Asian salaries are rising in 2023 – but only slightly
It’s the largest and most obvious component of an employee’s salary package, but there is still a lot of work that goes into setting salaries and bonus levels for staff. It’s also where employees are likely to experience the most discomfort in today’s inflation-driven economy. As the global economy continues to recover from the pandemic, […]
Malaysia witnesses a 2.5% rise in labour market in Q1 2023
The Malaysian labour market has seen a 2.5% expansion in Q1 2023, as reported by the Labour Market Review by the Department of Statistics Malaysia (DOSM). The increase translates to 16.65 million persons in the workforce compared to 16.25 million in the same period last year. According to Chief Statistician Mohd Uzir Mahidin, the surge […]
Lack of compensation strategy is holding employers back: Chief of Staff research
A surprisingly large number of employing organisations in Singapore and the Southeast Asia region are working without a formal compensation strategy. This is according to the latest Chief of Staff Asia research paper, focused on compensation, benefits, and employee health. The report, titled Innovation Rules: How Compensation and Benefits Strategies are Evolving in 2023, was […]
Compensation and Benefits strategies for 2023 and beyond
Singapore job market sees increase in real estate and engineering roles
Singapore’s job market is experiencing a rise in demand for real estate roles and civil engineers, according to data from Indeed. Over the past three months, postings for real estate roles grew by 16%, while civil engineering positions saw an increase of 31%. This surge contrasts with the general trend of cooling labour demand, which […]
The Reading List: Short reads for the weekend
Here is some light reading material curated by Chief of Staff Asia to keep you updated over the weekend. Layoffs are hitting HR and DEI teams at a disproportionately high rate. Here’s why companies need generalists to thrive | Fortune As companies grapple with the implications of the Great Resignation and the subsequent transformation of […]
Vietnam and Philippines emerge as talent hotspots amid economic downturn
Economic pressures have led companies to turn to Vietnam and the Philippines for affordable, skilled talent. A report from Recruitery showed a 300% growth in companies utilising their Employer of Record and payroll services in these countries for Q1 2023. However, local job markets saw a 51% downturn. Software, product, marketing, and accounting roles found […]
Salary recovery in Malaysia post-pandemic varies across sectors
Salaries in Malaysia are bouncing back post-pandemic, but at different rates across sectors. In 2022, 93% of employers granted pay raises, a significant increase from 65% in 2021, according to the Malaysian Employers Federation. However, recovery has not been uniform, with some industries like IT, education, telecommunications, and transportation seeing more than a 40% increase, […]
Thailand’s labour market improves significantly in Q1 2023
Thailand’s labour market experienced notable improvement in the first quarter of 2023, with 98% of the labour force now employed, according to the National Statistical Office (NSO). Data revealed that of the 58.8 million people aged 15 and over, 40.3 million or 68.5% participated in the labour force, with 39.6 million or 98% employed. NSO […]
Singapore maintains investment in tech talent despite layoffs
Singapore has experienced layoffs in the global tech industry since 2022, with companies like Carousell and Shopee cutting jobs. However, the nation continues to invest heavily in tech skills, hiring and cultivating talent in both tech and non-tech sectors. The Infocomm Media Development Authority (IMDA) highlights that the demand for specialized tech talent extends beyond […]
