The Big Story: High turnover, same pay. Are Singapore firms playing it safe with 2026 salary increases amid high turnover?

Singapore companies are keeping a tight rein on salary hike in 2026, even as their turnover levels remain among the highest in South-east Asia, according to a new survey by professional services firm Aon. Companies here are budgeting a 4.3 per cent salary increase in 2026 – the same as the actual growth in 2025. Regionally, companies in Vietnam are budgeting the highest salary hike at 7.1 per cent in 2026, followed by Indonesia at 5.9 per cent and the Philippines at 5.2 per cent. According to the survey, turnover levels in Singapore firms during the period from June 1, 2024 to June 1, 2025, remained among the highest at 19.3 per cent in the region, just behind the Philippines (20 per cent). So, what do these figures mean for workers and employers in Singapore?  On The Big Story, Hongbin Jeong speaks with Rachel Jayaprakash, Research Lead for the Salary Increase and Turnover Study Southeast Asia and Head of Talent Solutions for Malaysia, Aon, to find out more. See omnystudio.com/listener for privacy information.