A new study has revealed a number of employee trends in Singapore which put HR at risk of losing large portions of their workforce
These figures come from the 2016 Hays Asia Salary Guide which lists a number of current trends among local employees which HR should be aware of.
“With over a third of the workforce thinking about a move, employers need to pay close attention to what pushes an employee to start looking for a new job as well as their motivations for staying in the job they have,” said Lynne Roeder, managing director of Hays in Singapore.
Among employees, the top five motivators for job hunting include:
- Salary or benefits (43%)
- Lack of career progression in their current role (36%)
- Seeking new challenges (36%)
- Management style/company culture (29%)
- Lack of training or development opportunities (21%)
“On the whole, employers are doing the best they can to keep salaries stable amidst uncertain economic conditions. The shortfall appears where candidate expectations are greater,” Roeder told HRD.
“Whilst candidates are hungry for advancement, employers need to ensure their salaries remain competitive. With tighter budgets, this can be a challenge, but HR should consider what benefits can be offered to bridge gaps in salary increase expectations.”
According to the Salary Guide, the top five factors crucial for retaining employees are:
- Work-life balance (60%)
- Salary or benefits package (40%)
- Work location (37%)
- Career progression (31%)
- The management style & company culture (30%)
“Flexible working options can enable more personal time or to cope with care arrangements for children or elderly relatives – a trend only set to increase given future demographic changes,” she added.
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