Recent survey conducted by the Malaysian Employers Federation (MEF) found out that, despite the trying economic conditions, majority of the employers are still willing to reward their employees with salary increase and year-end bonus, albeit at a lower rate.
70% of more than 200 employers surveyed indicated their willingness to offer a salary raise, with MEF forecasting the percentage of increase to be in the region of between 5.53% for executives and 5.59% for non-executives.
The figures are somewhat lower than the results of a similar survey done back in August, with the former’s output range lies between 5.78% (executives) and 5.85% (non-executives). The swings were mainly attributed to the recent global economic downturn.
High salary increase is forecasted to be seen in a number of industries including pharmaceutical, medical, textile, logistics, forwarding, transportation and manufacturing of heavy machineries. As for the annual bonus, 72% of the respondents forecasted that bonus will be paid to non-executives (with average of 1.99 months bonus), while 60% will pay bonus to executives (average 1.78 months bonus).
The results of the survey were released as a published booklet, entitled MEF Malaysia Salary Survey for Executives and Non-Executives 2008, which can be used as a yardstick to determine salary trend for the year 2009.