Aon, a leading global professional services firm providing a broad range of risk, retirement, and health solutions, has named seven organizations as Best Employers Singapore 2018.
Aon Best Employers achieved an engagement score of 81%, compared to a market average of 61%. They also scored 20 points higher than market average across the Best Employer indices of employer brand, effective leadership, and high-performance culture.
According to Aon research, a 5% increase in employee engagement is linked to a 3% increase in revenue growth in the subsequent year. In an uncertain business environment where 87% of Singapore organizations are undergoing a digital transformation, Best Employers inspire their employees with a compelling vision. 83% of employees in Best Employer organizations agree that their senior leadership provides them a clear direction for the future (22 points higher than the market average).
In addition, Best Employers have a total rewards strategy in place that focuses not just on pay but learning and career development opportunities as well. 76% of Best Employer employees feel that they receive appropriate recognition for their contributions (21 points higher than the market average).
The Aon Best Employers in Singapore for 2018 are:
In addition, five organizations received special recognition:
DBS Bank was also recognized as Regional Best Employer 2018 for Asia Pacific, after being named Aon Best Employer in India earlier.
Vikas Verma, Director, Talent, Rewards and Performance, Aon Singapore, said: “As the business environment gets challenging and the talent more discerning, organizations in Singapore must shift gears from providing career progression to career experiences. While what this means to each company is different, Best Employers have done well to identify their top engagement drivers and create a fit-for-purpose employee experience that maximizes potential.”
Na Boon Chong, Managing Director and Partner, Talent, Rewards and Performance, Aon Singapore, added: “To thrive in this age of disruption, Best Employer organizations nurture an agile workforce that quickly moves from old jobs to new ones as they are created. An agile workforce must be supported by agile HR that delivers services based on reduced time-to-market, increased collaboration, regular reflection, and course correction based on evidence collected continuously during the entire employee lifecycle. Best Employers know that today’s best practices may not be tomorrow’s, and are always looking to ensure their HR remains relevant and responsive to the changing culture and work-styles of their organizations.”