Working in financial services? You might be on the way to a bigger paycheck this year.
73 per cent of chief financial officers (CFOs) within the financial services sector here plan to award raises to all of their employees or to their top performers, as companies unveil a variety of rewards to attract and retain talent in an increasingly competitive industry that is facing a growing skills shortage.
According to a new study commissioned by specialist recruitment company Robert Half, almost a quarter (24 per cent) of Singapore’s CFOs say salaries will rise for all their financial services staff. Another 49 per cent intend to award raises to their top-performing staff.
Salaries of Singapore’s financial workers have been steadily rising over the years, according to the 2017 Robert Half Salary Guide, in tandem with an increase in non-monetary perks offered by financial service organisations for both prospective and current employees.
These benefits include increased workplace flexibility and a greater range of professional development opportunities, and reward and recognition programmes.
“Financial services workers are increasingly interested in work-life balance initiatives and – especially millennials – are generally eager to develop and advance their career, so offering non-monetary incentives such as flexible work hours, as well as a clearly defined career path can be a key factor in building employee loyalty,” said Managing Director of Robert Half Singapore, Matthieu Imbert-Bouchard.
The full 2017 Robert Half Salary Guide can be downloaded via this link.
