Employers' efforts to encourage a positive work-life balance for staff in this fast-paced industry are starting to pay off
The work-life balance of financial services employees in Singapore is improving, according to research by Robert Half.
More than two in three (68%) Singaporean financial employers say the work-life balance of employees in their organisation has improved over the past three years.
Almost one in three (29%) say their staff’s level of work-life balance has remained the same over the same time period, and only 3% say it has decreased.
With more than nine in 10 (91%) of employers acknowledging the positive impact on performance brought about by work-life balance, financial services employers understand their business stands to benefit from improving the professional and personal balance of their staff.
The vast majority (97%) of Singapore’s financial services employers are actively encouraging a positive work-life balance for their staff, with current initiatives including: additional leave/holidays (47%), flexible work hours (41%), company restrictions on use of mobile devices outside of office hours (29%), on-site amenities such as childcare and gyms (27%), and restricting working hours (25%).
“With financial services being a fast-paced environment, obtaining work-life balance is not only highly beneficial for employees as it helps reduce stress and increase job satisfaction, but it also brings advantages to companies that go beyond increased productivity,” said Matthieu Imbert-Bouchard, managing director at Robert Half Singapore.
“Organisations who prioritise and actively promote work-life balance initiatives have a competitive edge in the war for talent as they frame themselves as an employer of choice.
“To continue to promote proper work-life balance, employers should also discourage the ‘workaholic’ attitude and restrict employee access to the workplace outside of regular office hours.
“Whilst some overtime may be expected during peak times on the business calendar, financial services workers should not be encouraged to sacrifice their personal and family commitments for the sake of their careers.”