​​Report: Report On Wage Practices 2015

​​​​​​​​​​This report examines employees’ wage changes and firms’ wage practices in 2015, including the extent to which they have adopted the National Wages Council’s recommendations.

Key findings: Total wage growth (including bonuses) in the private sector eased amid softer economic conditions. However, real wages increased at a faster pace in 2015 than the previous year, due to negative inflation. Fewer firms were profitable in 2015 compared to 2014, as the proportion of firms that were more profitable than a year ago declined, and those which were less profitable or incurred losses increased. As most firms had put in place some form of flexible and performance-based wage system that gave flexibility to adjust wages according to the prevailing business climate, the proportion of employers that gave wage increases to their employees fell in 2015.