Annual Increment

Annual Increment

Question Dear HR Professionals, I understand that the average annual increment in Singapore for 2019 is around 3-5%. If the annual increment is 3% for those who earn between $2,500 to-$3,000 will be less than $100, will this amount be too little to meet the inflation rate? Jasmine     Reply 1 To help the lower income employee, a common approach is to use a combination of %+dollar quantum, for example, 3% + $60. For an employee drawing $3000, this translates into 5%. For an employee drawing $10k, this will be 3.6%. AL     Reply 2 The projected inflation rate for 2018 – 1.07% 2019 – 1.37% So, for 3% increment should be fine. Dan  

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