MEF: Quarterly salary report publication a good thing

PETALING JAYA: The publication of salary reports on a quarterly basis is a good thing, says Malaysian Employers Federation (MEF) president Datuk Dr Syed Hussain Syed Husman (pic).

“This is a good move because it provides both employers and employees regular updates on salaries and wages reflective of the changing economic and market conditions,” he said.

“It shows that the government is serious about steering the economy beyond the pandemic,” added Syed Hussain.

He said the move will help employers to benchmark their salaries with national median and mean wage rates more effectively.

Syed Hussain then said that more value can be added if the salaries data shown are based on region, industries and occupations.

This comes after Economy Minister Rafizi Ramli said that the National Statistics Department’s Salaries and Wages Survey Report will be published quarterly instead of annually from August.

Syed Hussain said that the move is part of the digitalisation transformation process which practises the availability of timely and accurate data and information.

He also said that participative, dynamic and forward-looking employers must be incentivised by the government through technical and financial assistance to enhance their business competitiveness.

Syed Hussain said this is especially so for micro, small and medium enterprises (MSMEs).

”Financial schemes, grants and tax reliefs should also be given to incentivise MSMEs to adopt digitalisation,“ he said, adding that the shift to digitalise their processes is often costly for MSMEs.