A recent study by Aon, a global professional services firm, has found that 67% of employees in Singapore are contemplating changing employers within the next 12 months. This figure surpasses the global average of 60%, indicating a significant level of dissatisfaction among Singaporean workers. The study, which surveyed over 9,000 employees across 23 countries, underscores the need for businesses in Singapore to adapt their human capital strategies to meet evolving workforce expectations.
The study highlights that 21% of Singaporean employees feel undervalued, compared to 13% globally. Rahul Chawla, partner and head of Talent Solutions for Southeast Asia at Aon, emphasised the importance of creating a fair and equitable workplace. “Employers in Singapore must rethink their total rewards strategy to address both professional and personal needs,” he stated.
Key benefits valued by Singaporean employees include medical coverage, paid time off, work-life balance programmes, flexible benefits, and career development opportunities. Interestingly, 65% of employees are willing to sacrifice existing benefits for a better choice of benefits, reflecting a desire for more personalised and flexible options.
The study also found that 29% of Singaporean employees lack confidence in their employers’ investment in skills development, compared to 17% globally. As technological disruptions continue, 35% of employees are motivated to develop new AI skills to remain relevant.
Aon’s findings suggest that businesses must prioritise understanding employee expectations through data-driven insights to attract and retain talent effectively.
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