In our weekly series Unwrapped, TheHomeGround Asia takes a closer look at major stories and happenings that impact Singaporeans.
The Public Service Division (PSD) announced at the start of the week that about 23,000 civil servants will get a pay rise of between 5 per cent and 14 per cent from August, allowing the civil service to keep pace with the market and continue to attract and retain talent.
The fact that the economy is only just recovering, will the hike hit small and medium companies the hardest as they have limited financial resources?
Also, that there is a widespread talent crunch, causing most companies to find it harder to hire. Will the rise in public servants’ salaries make it difficult fot the private sector to retain existing talent?
The team looks at whether the move is a way for the Civil Service to hold onto talent during labour shortage and if it indirectly sets a benchmark for the private sector to follow, despite the latter having already made adjustments.
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