CNA938 Rewind - Firms should adopt flexible rate wage system if dim prospects: NWC

Amid uncertainties in the global economy and the cost pressures faced by businesses, employers who have done well but face uncertain business prospects may moderate built-in wage increases for workers, the National Wages Council (NWC) said on Tuesday (Nov 11). But they should still reward employees with variable payments like bonuses and one-off payments. Andrea Heng and Hairianto Diman assess the tripartite body’s latest wage guidelines with Kuah Boon Wee, Vice-President, Singapore National Employers Federation.