Private sector should review remuneration package, says BoardRoom
KUALA LUMPUR, Oct 18 (Bernama) -- The private sector should review its remuneration package in order to compete with wages offered by the public sector, says BoardRoom Ltd chief executive officer Kim Teo.
He said traditionally, the private sector received higher wages compared with the civil service, but with the recent proposal to raise annual increments for civil servants in the 2012 Budget, the wage gap between the private and public sectors have narrowed.
"Additionally, for some segments, the private sector might offer a lower remuneration package, hence, making the civil service more attractive for fresh graduates," Teo told Bernama after a seminar on the 2012 Budget proposals here Tuesday.
Singapore-based BoardRoom Ltd is a regional corporate services provider and is listed on the Singapore Stock Exchange.
Prime Minister Datuk Seri Najib Razak, besides announcing an annual salary increment of between RM80 and RM320 for civil servants of different grades, also said the government would introduce a new civil service remuneration scheme to replace the current scheme.
"Hence, employers should consider reviewing their remuneration package based on the employee's productivity and compete with the government to offer better wages," he said.
Meanwhile, commenting on the incentives given to the education sector in the 2012 Budget, he said it was inline with the government's objective to increase people's soft skills.
| « PM to launch agro food policy soon | | | SMEs urged to take advantage of increased regional integration, mart liberalisation » |
