Jobstreet Hiring, Compensation & Benefits Report 2024: 45% hirers confident of “more active” job market this year

Singapore’s job market is set for a lively start in 2024, as indicated by insights from the Jobstreet Hiring, Compensation & Benefits Report 2024.

Optimism runs high for the first half of 2024, with 45% of hirers confident to have a “more active” job market this year. However, expectations slightly taper off for the latter half of the year, with only 32% remaining confident about the job market. Salary increments, however, saw a dip, with the average increase resting at 5.8%, compared to 6.3% in 2022.

Additionally, there’s a growing emphasis on extending additional paternity and maternity leave, with percentages of 8% and 7%, respectively, reflecting a focus on employee well-being and family support.Health checks/medical screening coverage took the lead in 2023 at 6%, followed by medical insurance and dental coverage at 5% each.

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