Over 40% of Singaporeans will quit jobs for better work-life balance
A recent Randstad survey also showed 79% of respondents found non-monetary benefits important in their employee experience.
SINGAPORE— In today's fast-paced and demanding world, achieving a harmonious work-life balance has become a burning desire for many Singaporean professionals.
In a recent survey conducted by Randstad Singapore, the results showed 41 percent of respondents were eagerly contemplating bidding farewell to their current jobs, all in pursuit of a more healthier work-life balance.
The survey, known as the 2023 Employer Brand Research Singapore report, was conducted by Randstad, the world's largest talent company.
This year's research involved over 163,000 respondents across 32 markets, including 2,753 individuals based in Singapore who participated in January.
Now in its 12th edition, the report aims to capture the evolving expectations of the local workforce in Singapore in response to changes in the economy and labour markets.
Jaya Dass, managing director at Randstad Singapore, emphasised the shift taking place in how Singaporeans view work.
She stated, "While maintaining steady employment and having good compensation and benefits are still extremely important to talent, people are actively seeking companies that can also support their career development and make them feel good at work."
The survey highlighted the top five reasons that would motivate a worker to resign, with improving work-life balance ranking as the leading factor.
The second reason, low compensation and the rising cost of living, was close behind at 38 per cent.
These findings demonstrate that work-life balance has become more crucial than attractive salary and benefits when job seekers consider potential employers in Singapore.
Dass emphasised that achieving work-life balance goes beyond simply offering flexible work options, stating, "It's about understanding how work fits into people's lives and knowing how the company can support them to work effectively so that they can get enough rest."
Furthermore, the survey revealed that 79 per cent of respondents found non-monetary benefits important in their employee experience.
Non-monetary benefits are intangible initiatives that improve job satisfaction and work-life balance.
Among these benefits, respondents ranked having good relationships with both their colleagues and managers as the most critical factors.
Dass commented on the importance of a nurturing and enjoyable workplace, stating, "In the new social contract between employers and employees, companies are expected to provide a more holistic work experience rather than simply matching pay expectations.
"In order to attract the right talent, companies will have to prioritise creating a supportive work environment where people feel valued and empowered."
Shifting priorities among workers in Singapore
The survey also highlighted the desire among Singaporean workers for upskilling and reskilling opportunities.
A majority of respondents (69 per cent) consider upskilling and reskilling necessary, yet only half of them (54 per cent) have received such opportunities in their careers. This finding shows the importance of career development and growth opportunities for employees in Singapore.
Dass stressed the significance of upskilling in the current digital era, stating, "Job seekers look for employers that prioritise training as they see it as an opportunity for them to grow their careers, eventually secure a more prestigious job title, and earn a higher income."
With the ever-evolving workforce landscape, it is crucial for companies in Singapore to adapt and align with the changing expectations of their employees, Randstad said in its report.
This includes recognising the shifting priorities of job seekers, particularly among Gen Z individuals, who now place a strong emphasis on mental health when searching for employment.
Some experts Yahoo Southeast Asia has previously spoken to have highlighted the growing importance of aligning values and purpose in work for young job seekers, including those from Gen Z.
They emphasise that job seekers today value positive and inclusive work cultures that promote diversity, collaboration, and mental health.
This shift in priorities highlights employers' need to offer competitive compensation and benefits and create a nurturing and supportive work environment.
Do you have a story tip? Email: sgnews.tips@yahooinc.com.
You can also follow us on Facebook, Instagram, TikTok and Twitter. Also check out our Southeast Asia, Food, and Gaming channels on YouTube.
