News: 93% of Singaporean employees eager to join global firms, survey reveals why

Employee Engagement

93% of Singaporean employees eager to join global firms, survey reveals why

Aligned with the worldwide trend, more than half (58%) of employees in Singapore are presently exploring new job opportunities or intending to do so within the upcoming six months.
93% of Singaporean employees eager to join global firms, survey reveals why

A recent study unveils employee expectations and sentiments, providing insights into strategies and best practices for cultivating a globally-oriented, employee-centric leadership approach. Moreover, it highlights Singaporean employees' strong aspirations toward global companies, with 93% of respondents showing a keen interest in joining such corporations, surpassing the global average of 79%.

G-P (Globalisation Partners) unveiled its inaugural ‘Global Growth Report: The Rise of the Everywhere Workforce,’ highlighting that this surge is primarily driven by the potential for improved pay and benefits (62%), opportunities for travel or work abroad (52%), and the desire to be part of a culturally diverse work environment (53%). These factors were identified as the most significant benefits contributing to this trend.

In line with the global trend, over half (58%) of Singaporean employees are currently seeking a new role or have plans to do so within the next six months. Additionally, 90% of respondents believe that companies actively engaging in international recruitment offer better opportunities to advance their professional careers.

Singapore's workforce landscape is undergoing transformation, influenced by macroeconomic shifts, the emergence of hybrid work structures, and advancements in technologies like Artificial Intelligence (AI). Despite Singapore's position as a vibrant startup center and one of the globe's most innovative economies, businesses in the city-state grapple with an increasing scarcity of skilled talent.

“Even as global economic headwinds continue to challenge businesses, Singapore’s economy remains strong. However, in light of the prevailing workforce and talent crunch, it is essential for businesses to adopt a global mindset to thrive and scale in this environment,” said Charles Ferguson, General Manager, G-P Asia Pacific.

“Embracing a global mindset, thinking beyond geographical boundaries and creating a workplace culture that fosters international collaboration will not only help overcome talent limitations but also position businesses in Singapore for sustainable growth and success in an increasingly interconnected world," he said.

Balancing work preferences and leadership styles in global teams

As per insights from Singaporean respondents, global companies demonstrate proficiency in various business aspects: nurturing and serving international clients (61%), embracing and deploying cutting-edge technology (59%), and attracting top-tier talent (52%).

While global team integration becomes increasingly standard in many organizations, respondents emphasise the importance of recognising work preferences and essential management attributes:

Establishing Clear Boundaries: Defined boundaries hold significant importance in Singaporean work culture. Ninety per cent of respondents stress the necessity of well-outlined boundaries, especially in roles engaging with multiple time zones. Additionally, nearly half (46%) advocate for scheduling inclusive team meetings accommodating diverse time zones.

Inclusive Leadership: Leaders' role in fostering inclusion within global teams is critical. Over half (53%) expect leaders to ensure company communications consider different time zones and languages. Moreover, cultural sensitivity training (52%) and leaders' personal visits to global regions (49%) are also deemed essential.

Managing Global Teams: Facilitating an everywhere workforce requires leaders adept at adaptability and flexibility (63%). Cross-cultural communication (59%) and a blend of creativity, problem-solving (57%), along with empathy and compassion, are highlighted as essential skills for effective leadership in this context.

Monitoring AI developments in Singapore

Singapore's strong digital infrastructure and government-backed AI training initiatives have spurred rapid AI skill adoption in workplaces. Despite this enthusiasm, survey respondents express mixed feelings, with over three-quarters (77%) showing reluctance to embrace AI at work. Key insights include:

Concerns of Devaluation: Forty-one per cent worry that AI integration might diminish their work's perceived value, reflecting concerns about AI's impact on traditional roles and responsibilities.

Workload Apprehension: An additional 37% fear being burdened with extra tasks due to AI adoption, signalling caution about potential consequences.

Improvement Areas: Sixty per cent identify predicting business challenges in new markets as a top area where AI could improve, surpassing other functions like managing legal risks or evaluating employee performance by at least 15%.

Recognising AI's Potential: On a positive note, 56% are enthusiastic about AI's potential to provide more robust analysis in their work. Moreover, 52% view AI as beneficial for information review and summarisation purposes.

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Topics: Employee Engagement, Employee Relations, #HRTech, #HRCommunity

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