84% of employers consider salary hikes in 2022: Hays

However, data showed people are expecting higher than what employers can give.

About 84% of employers in Singapore intend to raise staff salaries this year, a significant increase over similar projections from the previous year, the 2022 Hays Asia Salary Guide survey has found.

Also, 69% of employers said they plan to give bonuses this year.

Accordingly, 47% of employers expect to add to their permanent headcount in 2022, higher than reported for the previous year. For the 75% of candidate respondents in Singapore who said they are open to new opportunities or actively looking for a new job, 2022 will be a good year to act on these plans.

"The growing economic stability has resulted in higher optimism amongst employers in Singapore. In fact, 95% of employers said that they expect business activity levels to increase or stay the same for the rest of the year," said Regional Director Kirsty Hulson.

However, data from the survey showed that more people expect increments higher than what employers are prepared to give. Of the 80% of employees who expected a pay rise in 2022, 29% anticipated increments of 6% and above. Comparatively, only 10% of employers plan on increasing salaries by 6% or more.

Hulson noted, "There is an observable disparity between the salary expectations of employees and what companies are prepared to meet. Given the skills shortages and rising competition for talent, companies that intend to hire in the coming months will need to manage this expectation gap with care."