Retail and hospitality to lead salary growth at 4.8% in 2027: Aon

Overall salary growth holds at 4.1% as employee attrition falls to 16.8% from 19.3%.

The retail and hospitality sector is projected to hit the highest salary increase for 2027 at 4.8%, up from 4.5% in 2026, as the overall salary increase holds at 4.1%, according to Aon's survey.

Life sciences and medical devices, technology, and manufacturing closely follow, with projected increases of 4.4%, 4.3%, and 4.0%, respectively. Meanwhile, the projected salary increases in consulting, business and community services, energy, and financial services are below 4.0%.

Singapore's overall employee attrition fell to 16.8% in 2026 from 19.3% in 2025, comprising 11.3% voluntary and 5.5% involuntary turnover. Consulting, business, and community services recorded the highest overall turnover rate at 24.6%.

Of Singaporean businesses surveyed, 34% of employers are positive about business conditions, 35% neutral and 31% negative. Amongst those with a positive outlook, 72% expect headcount to remain flat, 24% plan to expand their workforce, and 4% expect cuts.

Amongst neutral employers, 85% expect flat headcount, whilst 8% plan to expand and 8% expect cuts.

Even amongst employers with a negative outlook, 52% expect headcount to remain unchanged. Some 35% anticipate cuts, whilst 13% plan to expand.

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