Singapore’s tripartite National Wages Council (NWC) has, as expected, urged employers and workers to press on with concerted actions to cut costs, save jobs and enhance competitiveness. NWC said that Singapore need to be prepared for a prolonged downturn as the deep global recession is still ongoing, and there is uncertainty in the economic outlook. There could also be negative impact if the Influenza A(H1N1) flu turn into a pandemic.
All correct and understandable but I can’t help but yawn when I read this. The NWC set wage guidelines every year but most employers only look at the NWC when it is convenient for them to do so. When the NWC advice pay cut, employers will look at it as gospel. When the NWC advice a pay increase, it is a “guideline”.
As for the NWC latest call to save jobs…yawn, call me when you something new to say.