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What the SBF Wage Freeze Survey Means for Jobseekers in 2025
- Wecruit
- August 29, 2025
- 5.30p.m.
What the SBF Wage Freeze Survey Means for Jobseekers in 2025
The latest Singapore Business Federation (SBF) National Business Survey 2025 released on August 28 paints a cautious picture of the job market. With more companies freezing wages and slowing down hiring, many jobseekers may be wondering: What does this mean for me? Let’s break it down in plain language.
The Big Picture: Companies Are More Careful With Money
- Only 59% of businesses plan to raise wages in the next 12 months, down from 64% last year.
- 41% expect to freeze wages, up from 35% in 2024.
- Small and medium-sized enterprises (SMEs) are the most cautious: 43% won’t raise pay, compared to 28% of larger firms.
Hiring Outlook: Still Some Bright Spots
- 36% of companies plan to hire more staff this year, down from 40% in 2024.
- Big companies are a bit more optimistic (41% want to hire), while SMEs are pulling back (only 36%).
- Sectors that are still hiring: healthcare, education, and social services.
- Sectors slowing down: IT, hospitality, construction, and admin support.
Click here to explore roles in these high-demand sectors on Wecruit.
Lower-Wage Workers: A Small Win
- Despite overall caution, two-thirds of businesses (66%) still plan to raise pay for lower-wage workers.
- Large companies are slightly more likely than SMEs to follow through.
What Jobseekers Like You Should Do
1. Negotiate Beyond Salary
If companies can’t offer big pay bumps, think about:
- Flexible work arrangements (remote or hybrid work, flexible hours)
- Training opportunities (paid courses, certifications, career development)
- Extra benefits (health coverage, wellness perks, bonuses)
2. Target Growth Sectors
Focus on industries that are still expanding: healthcare, social services, and education. These are less affected by wage freezes and remain essential.
3. Build Skills Employers Want
Upskilling and reskilling are now top business challenges. That means employers value candidates who:
- Show they can learn quickly
- Have transferable skills (like digital, communication, or problem-solving abilities)
- Are open to cross-training for different roles
4. Stand Out in a Cautious Market
- Highlight adaptability and willingness to grow.
- Emphasize past achievements in helping companies save money, improve productivity, or drive results.
- Be realistic in salary negotiations, but confident about the value you bring.
The Bottom Line
Yes, businesses in Singapore are cautious in 2025. Wages are tightening and hiring is slowing. But opportunities are still there, especially if you’re flexible, willing to learn, and target the right industries.
Instead of just chasing salary, think about the whole package: skills, growth, and work-life balance. That’s how you’ll stay competitive in this tougher job market.
Ready to make your move? Talk to our experts today and let us guide you to the right role or the perfect candidate.
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