Thought Leadership

Total Rewards for Galvanising Malaysian Organisations

Malaysia’s overall economic health in 2016 has yet to recover from the plummeting crude oil prices and implementation of GST over the last 18 months. Statistically, real GDP growth closed 2016 at 4.2%, and CPI was recorded 1.8% higher1 in Nov 2016 (116.9) than the same month of the previous year while RON95 fuel prices decreased through the same period. Meanwhile, there’s been a decrease in average increment rates from 5.6% in 2015 to 5.2% in 2016. What does this mean for Malaysian employers in 2017?