Survey: Salaries expected to rise in 2021 despite Covid-19

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Salaries are still expected to see a projected increment of around 4.5 percent in 2021, despite the economic downturn amid the Covid-19 pandemic, according to human resources consulting firm Mercer Malaysia’s Total Remuneration Survey (TRS) 2020.Mercer Malaysia consulting leader Koay Gim Soon said the data was provided through annual subscriptions of their clients, which they then analysed and published.Although salary increments are still expected for 2021, it is still at a reduced rate than usual, Koay said.“Traditionally for the past three to five years, the increment value has been quite stable, hovering around five percent.“The projection for businesses in 2020 and 2021 was also quite stable, initial projection by the TRS also estimated it to be around five percent between April and June this year.“But then the pandemic hit us at the end of the first quarter… so the actua…