PETALING JAYA: Employers granted lower salary increases and bonuses to executives this year, said the 2016 Malaysia Employers Federation (MEF) Salary Surveys for Executives and Non-Executives.
The survey forecasts that the outlook for 2017 will be just as bleak, said its President, Tan Sri Azman Shah Haron.
Azman said the survey of 280 companies showed that the overall average forecast salary increase for executives in 2017 will be 5.3 per cent compared to 5.55 per cent in 2016.
"It also forecast lower salary increase for non-executives at 5.43 per cent in 2017 compared with 5.51 per cent in 2016," he said at the launch of the MEF survey here yesterday.
He said the average forecast bonus for 2017 was lower for executives at 2.15 months (2.3 months in 2016) but higher for non-executives at 2.11 months (1.97 months in 2016).
He said according to the findings, in 2016, only 63 per cent of respondent companies granted bonuses to executives, compared to 74.4 per cent in 2015, and for non-executives, it was 61.3 per cent compared to 72.6 per cent in 2015.
Besides the MEF Salary Surveys, Azman Shah also launched the MEF Survey on Management of Foreign Workers, MEF Survey on Managing Employees During Economic Downturn, MEF Fringe Benefits Survey 2016 and the MEF Analysis of Collective Agreements & Awards on Terms and Conditions of Employment 2015. -- Bernama