PETALING JAYA: Employers granted lower salary increases and bonuses throughout 2018 and the forecasted outlook for salary increases and bonuses in 2019 was just as bleak, as revealed by the 2018 MEF Salary Surveys for Executives and Non-Executives.
MEF President Y.Bhg. Tan Sri Azman Shah Dato’ Seri Haron, who launched the latest MEF surveys here today, stated that 92.4% of respondents granted salary increase to executives as compared to 94.3% in 2017, while it was 92.7% for non-executives (94.6% in 2017).
“The average salary increase for executives in 2018 was also lower at 4.88% (5.55% in 2017), and it was also lower for the non-executives at 4.88% (5.44% in 2017). The overall average forecasted salary increase for executives in 2019 is 4.86% as compared to 4.88% in 2018, while it was 4.89% in 2019 (4.88% in 2018) for the non-executives,” said Tan Sri Azman.
“In terms of bonus, 78.2% of respondent companies granted bonus to all executives as compared to 77.7% in 2017, and for non-executives it’s 78.7% compared to 76.9% in 2017. Average forecasted bonus for 2019 also dipped for executives at 2.06 months (2.18 months in 2018) but increased for non-executives with 1.97 months which was slightly higher than the 1.95 months of actual bonus in 2018.”
Tan Sri Azman said the global recession, increasing social costs and political uncertainties following GE14 were among factors influencing the employers’ cautious attitude.
The Surveys also included a section on Discrimination Reporting Procedure. More than 60% of the respondent companies have put in place procedure for reporting discrimination issues at their workplaces for executives as well as non-executives.
It also indicated that more than 88% of the companies indicated that their employees felt being valued with the implementation of anti-discrimination policy at the workplaces.
Besides the MEF Salary Surveys, Tan Sri Azman also launched the MEF Fringe Benefits Survey 2018 and the MEF Analysis of Collective Agreements & Awards on Terms and Conditions of Employment 2017.
Present at the launching ceremony were Vice Presidents En. Abdul Wahab Abu Bakar, Dato’ S.S. Subramaniam, Council Members Tan Sri Dato’ Dr Mohd Noor Ismail, Dato’ Dr Syed Hussain Syed Husman, Dato’ Sri Tan Thian Poh, Dato’ Dr Lim Weng Khuan, Dr Michael Chiam Tow Hui, and Executive Director Datuk Hj. Shamsuddin Bardan. For further information, contact the MEF Headquarters at 03-7955-7778 or fax 03-7955-9008, or email email@example.com.
27 NOVEMBER 2018