In its Economic Outlook 2020 report released today, the ministry said the PLWS would also provide a more flexible wage structure that could withstand economic uncertainties as well as ensure job stability and reduce the likelihood of retrenchment during down cycles.
According to the report, PLWS comprises fixed and variable components, whereby the fixed component consists of basic salary, annual salary increment and contractual bonus.“Both components are then mapped onto three PLWS models, namely productivity, profitability and combined models. The ministry said various efforts had been undertaken by the Human Resources Ministry and Malaysia Productivity Corporation to intensify the adoption of PLWS, including training, workshops, seminars, briefings, consultancies, showcases of best practices, as well as PLWS Awards programme.
“Resistance from trade unions and high implementation cost also contributed to the slow adoption,” it said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Finance Ministry: Federal govt expected to register RM244.5b in revenue next year | Malay MailKUALA LUMPUR, Oct 11 — The Finance Ministry (MoF) has predicted the federal government’s revenue to register RM244.5 billion or 15.2 per cent of the Gross Domestic Product (GDP) in 2020. According to the MoF’s Fiscal Outlook and Federal Government Revenue Estimates 2020 report, the amount...
Source: malaymail - 🏆 1. / 86 Read more »
Finance Ministry: No plans to abolish RPGTKUALA LUMPUR: The Government has no plans to abolish the Real Property Gains Tax (RPGT) at the moment as it has not reached a one-year implementation period, said the Finance Ministry.
Source: staronline - 🏆 4. / 75 Read more »
Finance Ministry: Overall federal govt debt, liabilities at RM1.17t as of June this year | Malay MailKUALA LUMPUR, Oct 11 — The overall federal government debt and liabilities exposure is estimated at RM1.17 trillion or 77.1 per cent of Gross Domestic Product (GDP) as of end of June 2019, the Finance Ministry (MoF) said today. According to the MoF’s Fiscal Outlook and federal Government...
Source: malaymail - 🏆 1. / 86 Read more »
Finance Ministry: SST to collect RM28.3b in 2020 | Malay MailKUALA LUMPUR, Oct 11 — The Finance Ministry (MoF) said the Sales and Services Tax (SST) is forecast to register at least RM28.3 billion in tax collection next year. According to the MoF's Fiscal Outlook and Federal Government Revenue Estimates 2020 report, the amount comprised about 1.8 per cent...
Source: malaymail - 🏆 1. / 86 Read more »