Abstract
Singapore is a resource-scarce country, and yet it is often viewed as a showcase of successful economic management. Understanding how Singapore’s employees are motivated and nurtured at both the national and workplace levels helps explain why the country continues to succeed despite various limitations. This article provides an overview of the pay practices in Singapore. It examines in some detail the evolution of the compensation system under the leadership of the National Wages Council since 1972. It also presents a profile of the national pay structure and occupational, industry and gender differences. The article also discusses an original study of pay practices in 21 electronics manufacturing companies in Singapore. Finally, the article looks at the causal link between directors’ remuneration and firm performance.
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