Workers in the city-state want to change jobs and feel undervalued. What gives?
Is it about pay and benefits? Yes, kind of. Flexible working. Maybe. Well-being and recognition? Not so much.
Whatever it is, the average Singaporean employee is not feeling it with their current job, an AON survey released on Wednesday shows.
Unhappier than Most
They surveyed 9,000 employees in 23 geographies and found the workers in the city-state are unhappier than those in places like the US, China, India, and Australia.
More than two-thirds of Singaporeans intend to go shopping for a new job in the next year, a figure that is substantially higher than the international average, which was at 60 percent.
New Strategy Required
Moreover, about 21 percent of them feel undervalued, way more than the 13 percent globally.
According to AON, it underscores the urgency for businesses in the city-state to «adapt» their strategies related to their employees.
Fair and Equitable
«In a competitive market, it is imperative businesses build a fair and equitable workplace in which employees are rewarded for their efforts and results. Employers in Singapore must rethink their total rewards strategy to address both professional and personal needs,» AON indicated.
But what drives the average worker in the city-state? Aon said that 58 percent would be incentivized by better-than-average pay and «meaningful benefits». For the expat and/or banker, that usually means international school fees for their children and similar.
Flexible Working
After that, a little more than a quarter appreciated flexible working arrangements, while 19 percent were swayed by the provision of support for their well-being.
At the bottom of the list, 18 percent of them would be influenced by recognition of their performance, the same figure that would be attracted to a company that was successful or a market leader.
