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National Wages Council (NWC) Guidelines 2011/2012

 

The National Wages Council (NWC) announced today their recommended Guidelines for 2011/2012.
 
The NWC notes the Economic Strategies Committee's (ESC) target of improving productivity by 2% to 3% per year on average, which will enable incomes to grow by 30% in real terms over the coming decade. 
 
Bearing in mind that built-in wage increases should lag productivity growth to be sustainable, therefore continuous productivity improvements must be strived. This will ensure that workers can enjoy good wage increases in the long run and be motivated to give their best in their work. In addition, variable bonus payments should reflect the company and individual performances.
 
The Guidelines then continued to touch on the following:
  • Wage Increase Recommendations 
  • Measures to help Low Wage Workers 
  • Coping with Inflationary Impact 
  • Raising Productivity 
  • Enhancing Employability and Employment Rate of Workers. 
  • Re-employment Readiness 
For details on the Guidelines, you may visit Ministry of Manpower website via the following <link>.