News: 45% of Singapore, 39% of SEA employees to quit jobs over flexibility and pay concerns


45% of Singapore, 39% of SEA employees to quit jobs over flexibility and pay concerns

The research findings showed that 78% of employers in Singapore (55% in SEA) are in favor of their employees being present in the office for no more than one day per week.
45% of Singapore, 39% of SEA employees to quit jobs over flexibility and pay concerns

Approximately 45% of workers in Singapore (39% in SEA) are inclined to resign from their positions within the next year. Better comprehensive well-being initiatives, enhanced salary packages, and increased workplace flexibility emerged as primary drivers for this inclination.

As per the EY 2023 Work Reimagined Survey, Singaporean employees express key concerns about workplace flexibility (34% in Singapore, 26% in SEA), talent retention (33% in Singapore, 24% in SEA), and pay (32% in Singapore, 39% in SEA).

 The survey’s fourth installment in the series also revealed that employers in Singapore prioritise pay (56% in Singapore, 36% in SEA), talent attraction (38% in Singapore, 29% in SEA), and workplace flexibility (34% in Singapore, 32% in SEA). These findings suggest that although the levels of priority may vary, there's a relative alignment between employees and employers in Singapore regarding their primary concerns.

A disparity between employee and employer expectations in Singapore has also been seen. While a significant majority (74% in Singapore, 62% in SEA) of employers hold the belief that slower economic growth diminishes employees’ inclination to quit, only 59% of employees (55% in SEA) concur. This discrepancy poses a risk for employers, potentially leading them to underestimate the ongoing dynamism of the labor market.

“Even with the current weaker economic outlook, almost half of Singapore employees are still looking to change jobs in search of better well-being programs that fit their post-pandemic life and priorities, as well as better pay to keep up with inflation. Employers need to preserve their critical talent by co-creating the future of the organization with strategies that reflect employees’ priorities and ultimately build trust and increase retention,” said Samir Bedi, EY Asean Workforce Advisory Leader. 

As Covid-19 reshaped work dynamics, respondents in Singapore perceive employers as retaining more influence and control in workplace matters such as rewards, retention, and work methodologies compared to employees. Prior to the pandemic, 63% of respondents (55% in SEA) agreed that employers held a predominant position in the workplace. 

This figure slightly rose to 65% in 2022 (53% in SEA) but has presently declined to 59% (50% in SEA). This indicates a lesser belief among respondents in Singapore and SEA that employers exert greater influence in today's workplaces than before the pandemic.

Regarding work arrangement preferences, the survey highlights significant support from employers in Singapore (78%, 55% in SEA) for fully remote work or office attendance limited to once a week. This flexibility accommodates knowledge workers, traditionally office-based, with only 13% in Singapore (8% in SEA) preferring full-time office work. 

These employees are drawn to in-office interactions focusing on social connections (44% in Singapore, 39% in SEA), relationship building (35% in Singapore, 34% in SEA), and collaboration (31% in Singapore, 32% in SEA).

Interestingly, workplace amenities and design do not significantly influence employees' inclination to return to the office. However, the survey notes a positive correlation between investment in high-quality real estate and improved outcomes in flexible work support, productivity, and retention.

The survey indicates that Singaporean employers have absorbed lessons from the pandemic, reshaping work paradigms and office spaces to accommodate remote and hybrid work arrangements, fostering increased productivity. Nonetheless, it emphasizes the importance of continual office enhancements to sustain employees' anticipation of returning to the workplace.

A disconnect surfaces between employee and employer perceptions regarding alignment in new work methodologies. While 94% of Singaporean employers (89% in SEA) perceive alignment among leadership on aspects like work schedules and remote/hybrid work, only 58% of employees (67% in SEA) agree.

Nevertheless, organisations exhibiting empathetic leadership witness employee trust and support, with over half of Singaporean employees feeling well-informed about organizational changes, signalling a prospect to bridge this divide.

Regarding generative artificial intelligence (GenAI), optimism prevails among employees and employers in Singapore and SEA. Over half of employees anticipate improved work flexibility due to GenAI, with a significant percentage already using or planning to integrate this technology in the next year. However, there's a discrepancy as only a small fraction of Singaporean employers (12%, 25% in SEA) plan to offer training on GenAI-related skills, highlighting a critical gap in upskilling and reskilling efforts.

Bedi underscores the importance of keeping human-centric approaches in technological transformations, emphasising that without aligning with human needs, technologies like GenAI might remain in an experimental phase. 

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Topics: Culture, Life @ Work, #HRTech, #HRCommunity

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