2 February 2024
Weekly Wrap Up: Singapore's retrenchments more than double in 2023, will this trend stay?
Retrenchments in Singapore more than doubled in 2023 from the previous year to 14,320, even as the overall unemployment rate fell slightly. Total employment growth for the full year of 2023 slowed amid weaker economic conditions, following a sharp post-pandemic rebound in 2022.
So should we expect this trend to stay?
Rahul Chawla, Partner & Head of Human Capital Solutions, Southeast Asia, Aon shares his views.

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1 December 2023
Weekly Wrap Up: Salaries flat in SG, employers not keeping up pace with the rate of inflation?
According to the Ministry of Manpower (MOM) advance report of how Singapore’s labour market fared in the whole of 2023, with high inflation this year eating into the spending power of Singapore residents, the real incomes for workers at the 20th percentile fell by 3 percent compared with the same period last year, while that for median workers dipped by 2.3 percent, even as nominal wages grew.
Rahul Chawla, Partner and Head of Talent Solutions for Southeast Asia, Aon discusses with the report with us and the reason why employers are not keeping up pace with the rate of inflation. 


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30 December 2021
Why It Matters: Salaries expected to recover to pre-Covid-19 pandemic levels in Southeast Asia in 2022
According to a study by Aon, the Covid-19 pandemic has weighed heavily on talent strategies with muted salary increases across Southeast Asia. The study found that in Singapore, salary increases across industries dropped to 3.3 percent in 2021 from 3.8 percent in 2020. Rahul Chawla, Head of Human Capital Solutions, Southeast Asia, Aon shares some of the factors leading to the drop in both salary increment and bonus pay out despite the economy recovering, and if the findings from his study actually lead to The Great Resignation in certain sectors.

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