SINGAPORE: SEEK, the company behind Asia’s popular Jobstreet and Jobsdb websites, has released its Southeast Asia Hiring, Compensation, and Benefits Report 2024.
In 2023, 85% of Southeast Asian companies chose to share their improved business profits by increasing employee salaries. Malaysia led the region with an average bonus of 2.4 months’ salary, closely followed by the Philippines at 2.3 months.Promotions have also played a crucial role in employee retention. The report notes that 64% of employees across Southeast Asia experienced promotions in 2023.
Singapore workers reported the highest stress levels in the region, mainly due to heavy workloads, pressure from management, and lack of career development opportunities.
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