RI workers to receive handsome raises next year

Employees in Indonesia are slated to receive the highest salary increases in the Asia-Pacific region next year, according to a 2004 worldwide pay survey.

The survey, conducted by Mercer Human Resources Consulting, stated that workers in Indonesia, along with South Korea and China were likely to have the highest collective pay hikes next year, while Singapore's workers would have one of the lowest.

Indonesians are expected to enjoy an average of a 6.5 percent raise, followed by South Korea with 4.5 percent and China with 3.9 percent.

Taiwan is also at 3.9 percent, followed by India at 3.1 percent and Japan with 2.8 percent. Singaporean salaries will go up by 1.6 percent, according to the survey.

"The threat of SARS still looms in parts of Asia, making it harder to regain economic composure," said Mark Sullivan from Mercer.

He also said that the last few years had been tough on business globally, but the outlook for 2004 would be much better and it would be reflected in pay increases.

The study results are taken from Mercer's Global Compensation Planning Report, which examines economic, employment and pay trends in over 60 countries.

Data on projected pay comes from a survey of multinational companies, while inflation data is mostly collected from the International Monetary Fund (IMF) and the Organization for Economic Cooperation and Development (OECD). -- JP