Even while the majority of Singaporean workers are happy with their employers, this sentiment is eroding as workers get older and three out of ten want to quit their existing positions after two years.
This week saw the release of a new Ipsos study on workplace culture, habits, and talent attrition in Singapore. The report highlights important trends that give businesses in the country useful information when making decisions.
Three out of five Singaporean employees, or 14 to 19% fewer than the global average, say they are glad to work for their employer or would recommend them to others, according to a study that surveyed 1,000 employees.
However, as age demographics climb, fewer workers feel glad of their companies; for example, the percentage of 55–65-year-olds who are proud of their employers is about 20 points lower than that of 18–24-year-olds who are just starting out in the workforce. In terms of pride, women are likewise six points less than their male counterparts (59% vs. 65%).
Nine points higher than the global average, about three out of ten workers in Singapore (29%) also say they intend to quit their current job in less than two years. Among those aged 18 to 24, this intention to depart in less than two years is significantly higher, at nearly 50% (47%).
While the majority of workers (45%) cite income as the primary reason they intend to leave their jobs in the next two years, workers also cite lack of recognition and slow career advancement as reasons they wish to leave even sooner (in less than a year). The primary cause of talent attrition among middle and senior managers is also career advancement.
The report, according to Ghassan Karian, CEO of Ipsos Karian and Box, an Ipsos expert in employee culture and engagement, is excellent and emphasises the need for Singaporean businesses to address young or new hire attrition and the related expenses. According to Karian, “it’s also important to strengthen the experience of an open, trustworthy, and listening culture.” “All of which are essential components that propel employee engagement and productivity.”
