Of 900 employers surveyed for the Hays Salary Guide, 50 per cent of those in Singapore intend to increase salaries between 3 and 6 per cent when they next review them.
A further 23 per cent of employers will increase salaries above 6 per cent.
But 22 per cent of employers intend to increase salaries less than 3 per cent; and 5 per cent intend to offer no increases at the next review.
While Asia remains a bright spot in the global economy, that does not mean salary increases will be automatic.
You still need to research and prepare to ensure you gain the maximum increase of the available salary pool this year. This includes listing your achievements and proving your value to the business.
Salary negotiation will affect most people in the workforce at some point in their career.
Salary negotiation can be difficult and people often handle it poorly, leading to frustration and disappointment.
But there are constructive ways to approach salary negotiation to achieve the desired outcome.
Be prepared for negotiation
The most important thing is to make sure you are as prepared as possible for your next salary review meeting by preparing a list of your recent achievements that exceed your objectives.
You may need to look back at your original job description.
Also list any changed or rising work volumes or duties you are now undertaking and consider projects you have been involved in.
You should then list the resulting benefit to the company. The aim here is to provide strong evidence to support the value you provide, so focus on outcomes and results.
Then research the salary you feel your performance and results are worth by reviewing a recent salary guide.
This enables you to back up your request with evidence and demonstrate that the salary you are asking for is in line with current market rates.
Keep the discussion professional
Once you have gathered this information, ask your manager for a meeting to review your salary. When the time comes for this meeting, keep it professional.
Stay calm and focused. Do not become emotional and do not talk of how much money you need for rising bills or mortgage repayments. Keep your review purely professional.
In most cases, it is important to have a fall-back position because the possibility of a pay rise is not always guaranteed, even if you have earned it.
If your employer cannot afford to increase your salary, get your manager to agree to a date for another pay review in three or six months.
Perhaps you could also consider asking for additional benefits in lieu of hard cash.
Above all, use your accomplishments and the value you add to the organisation as the basis of your negotiation.
In this way, you will clearly demonstrate your worth and will be in a stronger position to secure the maximum of the available salary pool this year.
Most importantly, remember to keep a positive attitude throughout the salary negotiation process and let your employer know you appreciate the time they have taken to consider your request, whether they are able to give you a salary increase or not.
By undertaking these steps, you are being proactive in moving in the right direction to negotiate your next salary increase by regularly documenting your successes and achievements and practicing your negotiation skills.