Payscale yearbook: Azman Shah (left) and MEF executive director Shamsuddin holding up the press copies of the ‘MEF Salary Survey for For Executives and Non- Executives 2008’ here.
About 70% of the 202 companies which took part in the Malaysian Employers Federation (MEF) survey said there would be salary increases for staff next year despite the economic downturn.
In the survey carried out in October, they had forecast increases of 5.53% for executives and 5.59% for non-executives.
But in an earlier survey done in August before the economic slowdown became imminent, the forecast had been 5.78% for executives and 5.85% for non-executives.
MEF president Datuk Azman Shah Haron, who released the MEF Salary Survey for Executives and Non-Executives 2008 here yesterday, said:
“It can be noted that the forecast salary increase for 2009 was reduced slightly in light of the global economic downturn.
“Generally, employers need to retain their talent and tighten their belts at the same time.”
Azman also presented the MEF Medical Benefits Survey 2008 and Analysis of Collective Agreements and Awards on Terms and Conditions of Employment 2007.
On year-end bonuses, Azman said that 72% of the companies forecast that bonuses would be paid to non-executives, while 60% said they would be granting bonuses to their executives next year.
On medical leave, he said that the 5.5 million Malaysian formal private sector employees took an average of 4.2 days of medical leave each a year, compared with less than a day (0.91) taken in Britain.
“Comparatively, Malaysians take a lot more medical leave. Employers feel that the employees are taking advantage in this area,” he said.