By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Marketing In Asia
  • Marketing
    • Viral
    • Expert Opinions
    • News & Trends
    • Research
    • Market Podcasts
    • Market Videos
    Marketing
    This category deals with best news and updates on marketing and branding news and events.
    Show More
    Top News
    market mall retail photo
    Maximising Loyalty ROI: A Guide for Retail Marketers
    1 month ago
    Jonathan_Reeve_Headshot
    Eagle Eye Reveals Impact of Loyalty Programs on APAC Retailers
    2 months ago
    moha Launches the Brand New Kesar Chandan Soap, a Masterpiece Crafted with the Finest Natural Ingredients
    moha Launches Kesar Chandan Soap: A Luxurious Blend of Saffron and Sandalwood
    4 months ago
    Latest News
    How retailers can prepare for the rise of Gen Zalpha
    1 day ago
    Are coworking spaces the best way to keep up the next generation of Malaysian workers engaged?
    1 week ago
    Marketing in Asia Presents an Exclusive Interview with Ng Chew Wee, Head of Business Marketing, APAC at TikTok
    3 weeks ago
    How AI is Disrupting Advertising Production and Creatives
    4 weeks ago
  • Startup
    • News from Startup world
    • Startup Stories
    • Trends and Opinions
    • Startup Podcasts
    • Startup Videos
    Startup
    News and articles from startup and venture investment world
    Show More
    Top News
    Japan’s Evolving Booze Culture: A Market in Transformation
    Japan’s Evolving Booze Culture: A Market in Transformation
    7 months ago
    text
    Safe Space™ announces partnership with National Healthcare Group as it continues to boost employee support and wellbeing
    8 months ago
    Sakshi Kalani Founder & CEO of Savy Click and Jaipur Unfolded
    AI-Powered Analytics: Sakshi Kalani on Influencer Marketing in 2025
    8 months ago
    Latest News
    Byron J. Fernandez: Minimize the stress of business crises with strong CX
    5 months ago
    Vedant Mahajan Acquires Stake in Flite: Transforming Event Technology with Innovation
    5 months ago
    Navigating the Digital Economy and Tax Challenges for SMEs
    5 months ago
    sehatUP Launches India’s First Integrated Digital Health Clinic, Pioneering Holistic Healthcare
    7 months ago
  • Business
    • Feature Stories
    • News
    • Business Podcasts
    • Business Videos
    Business
    News and press releases from business world of Asia
    Show More
    Top News
    Ng Chew Wee, Head of Business Marketing, APAC at TikTok
    Marketing in Asia Presents an Exclusive Interview with Ng Chew Wee, Head of Business Marketing, APAC at TikTok
    3 weeks ago
    Gabie Boko_CMO_NetApp
    Marketing in Asia Presents an Exclusive Interview with Gabie Boko, Chief Marketing Officer, NetApp
    4 weeks ago
    Stella Zhu
    How AI is Disrupting Advertising Production and Creatives
    4 weeks ago
    Latest News
    How retailers can prepare for the rise of Gen Zalpha
    1 day ago
    Modern retail marketing technology solution allows businesses to deliver mind-blowing numbers of offers in real time
    6 days ago
    Are coworking spaces the best way to keep up the next generation of Malaysian workers engaged?
    1 week ago
    Marketing in Asia Presents an Exclusive Interview with Andy See, Founder and Managing Director of Perspective Strategies
    1 week ago
  • Society
    • Inspiration
    • Destinations & Travel
    • Food & Gourmet
    • People
    • Young Voices
    • Society Videos
    • Society Podcasts
    Society
    News and articles from and for societies around us
    Show More
    Top News
    Smashers Sports Acquires Delhi Franchise of WPBL: A Game-Changer in India’s Sports Entertainment
    Smashers Sports Acquires Delhi Franchise of WPBL: A Game-Changer in India’s Sports Entertainment
    5 months ago
    Resorts World Cruises Sets Sail from Dubai with New Luxury Gulf Voyages
    Resorts World Cruises Sets Sail from Dubai with New Luxury Gulf Voyages
    6 months ago
    Australia luxury property
    Australia’s Luxury Real Estate Market Soars as Affluent Buyers Seek Waterfront Dreams
    6 months ago
    Latest News
    From Taboo to Triumph: How Malaysians Are Transforming Their Intimate Health Journey
    2 months ago
    Top 5 Misconceptions About Antibiotics Malaysians Need to Stop Believing
    2 months ago
    Eagle Eye Reveals Impact of Loyalty Programs on APAC Retailers
    2 months ago
    Elevate Your Haircare in 2025 with Jung Beauty’s Luxurious Camellia Edition Treatment
    4 months ago
  • Press Release
  • Awards
    • MIA Impact Circle Stellar CxO 2023 Malaysia
    • MIA Impact Circle Stellar CxO 2023 India
    • MIA Impact Circle Stellar CxO 2023 Philippines
    • Australian Women in Business Excellence Awards
    • MIA Impact Circle Stellar CxO 2024 Singapore
    • Mia Impact Circle Stellar Cxo 2024 Hongkong Award 
    • Mia Impact Circle Stellar Cxo 2024 Indonesia Award 
Search
Technology
  • Hot
  • Trending
  • Editor’s Choice
  • NSFW
  • Reactions
  • Authors
  • Viral on Internet
Other Pages
  • My Bookmarks
  • Customize Interests
  • About Marketing In Asia
  • Business Register & Login
  • Web Stories
  • Videos
  • Disclaimer
  • Terms of Service
  • Privacy Policy
© 2024 Marketing In Asia Sdn Bhd. All Rights Reserved.
Reading: A Progressive Wage Model on the Horizon: Is Malaysia Set for Mandatory Salary Increments?
Share
Sign In
Notification Show More
Latest News
CIRCLES
Circles.Life Champions Telco Innovation with Free Access to CirclesAI, Powered by OpenAI’s Latest Models
Press Release
the trade desk logo
The Trade Desk Announces OpenSincera, a New Application that Delivers Greater Visibility into Advertising Performance and Health of the Digital Advertising Supply Chain
Press Release
impact X digital travel insights
impact.com Launches First APAC Travel Report: Travellers Seek Trust and Value, Prompting Strategic Shift Among Marketers
Press Release
global network
Enginemailer Now Available in the Microsoft Azure Marketplace 
Press Release
Boomi Announces FY25 APJ Partner Award Winners
Press Release
Aa
Marketing In Asia
Aa
  • Hot
  • Trending
  • Editor’s Choice
  • NSFW
  • Reactions
  • Authors
  • Viral on Internet
  • My Bookmarks
  • Customize Interests
  • About Marketing In Asia
  • Business Register & Login
  • Startup Register & Login
Search
  • Marketing
    • Viral
    • Expert Opinions
    • News & Trends
    • Research
    • Market Podcasts
    • Market Videos
  • Startup
    • News from Startup world
    • Startup Stories
    • Trends and Opinions
    • Startup Podcasts
    • Startup Videos
  • Business
    • Feature Stories
    • News
    • Business Podcasts
    • Business Videos
  • Society
    • Inspiration
    • Destinations & Travel
    • Food & Gourmet
    • People
    • Young Voices
    • Society Videos
    • Society Podcasts
  • Press Release
  • Awards
    • MIA Impact Circle Stellar CxO 2023 Malaysia
    • MIA Impact Circle Stellar CxO 2023 India
    • MIA Impact Circle Stellar CxO 2023 Philippines
    • Australian Women in Business Excellence Awards
    • MIA Impact Circle Stellar CxO 2024 Singapore
    • Mia Impact Circle Stellar Cxo 2024 Hongkong Award 
    • Mia Impact Circle Stellar Cxo 2024 Indonesia Award 
Have an existing account? Sign In
Follow US
© 2023 Marketing In Asia Sdn Bhd. All Rights Reserved.
Marketing In Asia > Blog > Business > News > A Progressive Wage Model on the Horizon: Is Malaysia Set for Mandatory Salary Increments?
News

A Progressive Wage Model on the Horizon: Is Malaysia Set for Mandatory Salary Increments?

profile
Last updated: 2023/07/11 at 8:15 PM
haidar bajrai
Share
3 Min Read
Malaysia on the Digital Rise
SHARE

As Malaysia’s federal government prepares to roll out a progressive wage model, Economy Minister Rafizi Ramli’s recent speech on July 11, 2023, at the International Malaysia Law Conference in Kuala Lumpur caught everyone’s attention. It was here Rafizi stirred up the audience with his candid revelations about possibly making annual salary hikes a required element of this new wage policy. 

Previously, the ruling Pakatan Harapan (PH) coalition made a promise – albeit one fraught with challenges – during their election campaign. The pledge was to overhaul the country’s economy, heavily reliant on inexpensive labour, through broad yet intense reforms. Key among these reforms was the issue of wage increment. 

In charge of this gargantuan task, Rafizi warned of possible opposition from employers. As he pointed out, compelling salary hikes could attract resentment. However, confronting this ‘elephant in the room’ is essential to address the increasing cost of living – a concern that the Anwar administration has underlined as well. 

Rafizi revealed the plans to release a policy paper, outlining the progressive wage model, by August. He admitted this move may not be well received, particularly by top-tier professionals like senior lawyers, as it means a consistent annual wage increment. 

However, the minister also clarified that a progressive wage policy isn’t just about annual increments. It also enforces a degree of adjustment between the salaries of the highest-ranking and lowest-ranking partners. 

Also read: GoWork’s Staggering Success: Business Growth Skyrockets by 2x Pre-Pandemic Levels 

Currently, the proposed wage model specifics remain under wraps, but Rafizi’s ministry has pointed to it as a crucial step towards fixing longstanding structural flaws in the economy. These flaws have allowed wage suppression to persist, leaving salaries lagging behind inflation rates. 

This wage suppression is a significant contributing factor to the growing fear of increasing wealth inequality, particularly between Malaysia’s highest and lowest earners. 

Furthermore, Malaysia’s economy is under strain due to stiff competition from neighbouring countries also leveraging cheap labour. According to economists, this has played a role in stifling Malaysia’s wage growth. 

However, it seems a change is on the horizon. While controversial, this new wage policy could be the reform Malaysia needs to level the economic playing field and ensure equitable growth. 

Source: Malay Mail.

You Might Also Like

Modern retail marketing technology solution allows businesses to deliver mind-blowing numbers of offers in real time

Bridging the Protection Gap: Ouch! and MyKasih Work Together To Improve Takaful Access and Empower B40 Families

Are coworking spaces the best way to keep up the next generation of Malaysian workers engaged?

Malaysia Sees Tentative Cross-Border Momentum as APAC Investment Surges to US$9.5B

HealthMetrics Expands International Reach with Indonesia Launch, Unlocking New Pathways for Malaysian Healthcare Providers

MIA
Get Latest Job Updates on Whatsapp and Telegram
SCIKEY Logo
Whatsapp
Telegram
TAGGED: economic reform., Economy Minister, malaysia, mandatory salary increments, progressive wage model, Rafizi Ramli, structural economic issues, wage policy, wage suppression

Sign Up For MIA Newsletter

Be keep up! Get the latest updates about the Marketing world delivered straight to your inbox.

    By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
    haidar bajrai July 11, 2023 July 11, 2023
    Share This Article
    Facebook Twitter LinkedIn Email Copy Link Print
    Share
    What do you think?
    Love0
    Happy0
    Joy0
    Surprise1
    Sad0
    Angry0
    Cry0
    profile
    By haidar bajrai
    Follow:
    With a strong sense of compassion and a desire to effect real change, I am a passionate and purpose-driven person committed to having a positive impact on the world. I am inspired by works that present fresh viewpoints and insights. Hence i engage with travelling and participating in outdoor activities to learn more about the world. Exposure to diverse cultures and environments fuels my capacity for creative problem-solving, which also broadens my perspective on life.
    Previous Article Team DoBetter Triumphs at ImpactHack 2023: BizFlow Wins Big with Innovative Data Intelligence 
    Next Article Musk-Anwar Dialogues to Drive Malaysia’s Journey to an Electric Future
    Leave a comment Leave a comment

    Leave a Reply Cancel reply

    You must be logged in to post a comment.

    9.5k Followers Follow
    3.4k Followers Like
    1.1k Followers Follow
    214 Followers Follow
    208 Subscribers Subscribe

    Latest News

    CIRCLES
    Circles.Life Champions Telco Innovation with Free Access to CirclesAI, Powered by OpenAI’s Latest Models
    Press Release 3 hours ago
    the trade desk logo
    The Trade Desk Announces OpenSincera, a New Application that Delivers Greater Visibility into Advertising Performance and Health of the Digital Advertising Supply Chain
    Press Release 3 hours ago
    impact X digital travel insights
    impact.com Launches First APAC Travel Report: Travellers Seek Trust and Value, Prompting Strategic Shift Among Marketers
    Press Release 4 hours ago
    global network
    Enginemailer Now Available in the Microsoft Azure Marketplace 
    Press Release 4 hours ago

    PropertyGuru

    property guru

    You Might also Like

    Aaron Crowe
    AnalysisBusinessFeature Stories

    Modern retail marketing technology solution allows businesses to deliver mind-blowing numbers of offers in real time

    6 days ago
    Ouch! and MyKasih Work Together To Improve Takaful Access and Empower B40 Families
    Press Release

    Bridging the Protection Gap: Ouch! and MyKasih Work Together To Improve Takaful Access and Empower B40 Families

    1 week ago
    employees brainstorming in office
    AnalysisBusinessOpinion

    Are coworking spaces the best way to keep up the next generation of Malaysian workers engaged?

    1 week ago
    Real estate growth graph
    Press Release

    Malaysia Sees Tentative Cross-Border Momentum as APAC Investment Surges to US$9.5B

    1 week ago
    //

    Get Asia to Notice You

    Quick Link

    • Contact
    • RSS Terms of Service
    • Policies & Standards
    • About Us
    • FAQ
    • Disclaimer
    • Terms Of Service
    • Privacy Policy

    Top Categories

    • Marketing
    • Startup
    • Feature Stories
    • News
    • People
    • Inspiration

    Sign Up for Our Newsletter

    Subscribe to our newsletter to get our newest articles instantly!

      Marketing In AsiaMarketing In Asia
      Follow US
      © 2024 Marketing In Asia. All Rights Reserved.
      • Disclaimer
      • Terms of Service
      • Privacy Policy