THE trio of Singapore lenders are giving their junior employees globally a one-time bonus amid cost-of-living concerns.
The banks noted that this was in line with recommendations from Singapore’s National Wages Council (NWC), for companies to help lower-income employees cope with the rising cost of living.
In NWC’s guidelines for 2023/2024, it noted that employers should consider giving a one-off special lump sum payment to employees – with heavier weightage for lower to middle-income employees – to help them offset the higher cost of living this year.
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