51% Of Singapore Staff Mulling To Quit In Next 12 Months
SINGAPORE – Ernst & Young’s 2022 Work Reimagined Survey revealed that slightly over half of workers based in the city-state are considering to resign from their jobs in the next 12 months, reported the Human Resources Director on Saturday (23 July, SGT).
According to the study, which involved 50 companies and 300 staff, Gen Z and millennials are the most likely to quit their jobs over the next 12 months.
The reasons for leaving are different, but the survey highlights a disconnect between the perspectives of employers and their staff. For instance, 42 percent of Singapore workers are looking for new jobs to secure a higher pay. They also said that they may reconsider resigning if their current employers would increase their salary. However, only 24 percent of employers agree that a wage hike would help address staff turnover.
As for career progression, it’s ranked as the top two reason for quitting, with 35 percent of Singapore workers saying so. At the 3rd spot is flexibility, but the percentage of workers who said so fell to 19 percent.
In particular, around 90 percent of Singapore staff said they want to work from home (WFH) at least two days per week, while only 12 percent of companies here want their employees to work in the office full-time.
The survey stated that there’s a lower desire for work flexibility as may Singapore companies now offer this benefit. The challenge now is for employers to identify the current problems of their employees, said Samir Bedi, Workforce Advisory Leader for Southeast Asia at Ernst & Young.
“Singapore’s digital infrastructure has enabled organisations to rapidly adopt flexible work arrangements and create attractive ‘phygital’ work environments. As flexibility has now become the new standard requirement, it is critical that employers re-evaluate their employee value proposition to address the key workforce concerns of today, particularly around competitive compensation and career growth opportunities.”
“Employers who do so will be able to change their position from being in the ‘Great Resignation’ to one that’s a ‘Great Attraction,’” added Bedi.
