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NWC (Guidelines (Progressive wage model (Challenges), It is to deepen…
NWC
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Role
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Government, Chairman, Secretariat, council
Benefits
Offers flexibility to businesses to reward their workers with the companies' performance and prospects amid the sluggish global economy
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What is it: formed by the government in 1972 as a tripartite advisory body on wage adjustments to formulate wage guidelines to be in-line with the long term economic growth.
Purpose: to serve as a basis for wage negotiations and discussions on labour issues between employers and employees and this is to ensure Singapore’s economic and social development would not be undermined.
Who makes up: employers, trade union and government
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