THE sacrifices made by workers to help their companies through the economic downturn might have created a 'sweat debt' which may make for a 'dangerous recovery', said global management consultancy Hay Group.
This insidious debt arose from tightening measures such as wage cuts and freezes to help firms weather the slowdown. Workers who have stretched themselves through the tough times might be feeling frustrated now.
A poll by Hay Group shows that 29 per cent of employees in Singapore feel frustrated in their jobs while 35 per cent feel detached. Only 16 per cent feel effective.
'Companies may soon face a talent exodus as soon as the economy strengthens, if nothing is done to reward and recognise the sweat debt that employees have accumulated over the last year,' he warned.
The poll also shows that workers here can expect a modest salary increases of 2.3 per cent this year and a 3 per cent rise next year. Variable bonuses for 2009 remain modest at 1.8 months and is expected to decline marginally to 1.5 months in 2010.
The results were based on over 265 local and foreign-owned Singapore-based companies from both the private and public sectors polled in October for their business sentiments, salary increases and pay projections for the next 12 months.