In a survey report – released on the heels of Manpower Minister Gan Kim Yong’s exhortation to well-performing firms to consider reversing wage cuts – Dr Stephen Choo, regional director of Hay Group Insight, warned: “Companies may soon face a talent exodus as soon as the economy strengthens, if nothing is done to reward and recognise the ’sweat debt’ that employers have accumulated over the last year.”

Source: TODAY

When the state media published Manpower Minister Gan’s call to employers to reverse pay cuts last Sunday, many saw it as a prelude to the reinstatement of ministerial pay packages.   To recap, it was reported earlier this year that the annual salaries of Singapore’s ministers and senior civil servants were expected to fall by 12 to 20 percent in line with the shrinking economy.   Given the expected pickup in the economy, there were of course suspicions that our talented ministers are now beginning to feel that their ’sweat debt’ must be duly (and of course quickly) rewarded. 

Earlier today, our esteemed PM Lee announced that Singapore should avoid another recession next year as demand from abroad stabilizes.  This is good news for all.  But in reality, many Singaporeans will instead expect a deepening of the social divide as they continue to sweat it out against rising public utility, transport and housing costs.  Who will repay our sweat debts as we Pay And Pay for those in the ivory towers?

 Jasmine

 

Comments

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See: 3in1 Kopitiam, Sam’s Alfresco Coffee, Singapore Kopitiam, SgForums
Our responses to some of the comments are listed below. If we are not answering some other specific questions, that is because we do not know how.
 
1. If you want [...]

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