To keep your compensation plan competitive, you have to know where you stand in the market. Pay too little and you risk losing valuable talent to your competition. Pay too much and you hurt your bottom line. To get pay just right, you need a compensation plan that keeps your talent engaged and your budget in line. You need a plan that works in local markets while supporting your region’s goals.

Key takeaways

  • The ASEAN Economic Community integration in 2015 will push companies to re-think their employee value proposition in the advent of more talent mobility within the region.
  • Inflation and its impact to wages continue to be a major concern in developing and emerging markets like Indonesia, Malaysia and the Philippines while Vietnam is entering a more sustainable inflation environment.
  • Innovation in providing non-monetary rewards and segmentation in delivering benefits will become a key differentiator for companies in the future.
  • Companies in the private sector in Singapore are looking at effective pay-for-performance strategies to support business growth. In the last 2 years, salary increase rate registered a flat growth around 4.5%, while attrition remained critical and performance –based rewards were perceived as the best way to engage and retain key talent.
  • Singapore pharmaceutical and high-tech industries, however, have been traditionally competitive with 1.6% to 1.9% and 2.9% to 3.3% increase on their bonuses from 2013 to 2014, respectively.
  • Salary increase rate for General Industry in China reached 8.8% in 2014, and is predicted to contract to 8.4% in 2015. Among all functions, salary increase for manufacturing operators remained the highest, reaching 10.5% in 2014 for the High-Tech Industry.
  • Premium for top management/executives in China are competitive compared to other countries in APAC region, exceeding Australia, Hong Kong and Japan. However, overall turnover rate reached 19% in 2014, relatively higher than other APAC countries

About the summit

The inaugural Towers Watson Asia Pacific Data Insights Summit held in Singapore last 20 November 2014 brought together our data services leaders from 13 countries across Asia Pacific.

Over 40 clients and participants had the opportunity to engage with our experts from Australia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam at length in their respective country booths. Valuable insights on latest local and regional compensation and benefit trends were shared.

Alvin Khoo, Rewards Director, Asia Paci¬fic of Estee Lauder shared his views on the challenges in implementing rewards in local markets while supporting regional reward philosophy.

On the other hand, our very own Jasbir Singh, Global Leader of the Data Services Practice chaired the panel discussion on the latest local/regional compensation and bene¬fit trends. The panelists included Clare Muhiudeen, Sean Darilay, Edward Hsu, Raghav Datta and Gaia Gentili.

Three special prizes worth up to USD$10,000 were also given away to lucky draw winners. A special prize valued up to US$4,000 was likewise given to the best Tweet via our live Twitter feed.

Towers Watson Media 
From the left: Sean Darilay, Gaia Gentili, Raghav Data, Edward Hsu, Clare Muhiudeen, Jasbir Singh – you might want to include their title after their name
Towers Watson Media 
Global Data Services leaders from 13 countries across Asia Pacific

Towers Watson Media 
Live Twitter feed #TWAPGDSSummit
Towers Watson Media 
Clare Muhiudeen, Managing Director, T&R, AP and Jasbir Singh, Global Leader, Data Services

How Towers Watson can help

Towers Watson Data Services is a leading provider of compensation, benefits and employment practices information to the global employer community. Our databases are recognised worldwide as the most reliable source of current data for compensation planning.

Core offerings:

  • Compensation Survey Reports
  • Company Car Benefits Survey Reports
  • Employment Terms and Conditions and Benefits Profile
  • Global 50 Remuneration Planning Report
  • Salary Budget Planning Reports
Towers Watson Media 

Questions? Contact:

Jell Espinosa
T +65 6389 7439