Pay, lack of recognition, and career progression fuelling intent to leave
Nearly three in 10 employees in Singapore have admitted that they have plans to leave their current employer in under two years, driven by pay, lack of recognition, as well as career progression in the workplace.
A survey by Ipsos among 1,000 employees in Singapore revealed that 29% are planning to resign in under two years, nine points higher than the global average.
Pay was the most cited factor (45%) driving their intentions of leaving. Others said it was because of:
Employees who are between 18 and 24 years old cited workload as the second-most important push factor, just behind pay and benefits.
Employees between ages 55 and 65 said feeling valued at work is just as important as pay and benefits.
For senior leaders and middle managers surveyed, career development is the most important push factor after pay.
"It is crucial to address push factors, including pay and benefits, to limit talent flight risk," the report said.
Pride in job falls, leading to lower retention
Meanwhile, the report also found that feelings of pride among employees for working for their employers is lagging compared with global norms.
Only three in five Singaporeans (62%) said they feel proud to work for their organisation, while only 57% said they would recommend it as a great place to work, according to the Ipsos report.
"Both measures fall below global benchmarks," the report noted.
Women are less proud (59%) of working for their organisation than men (65%), the report said, while pride is stronger for younger employees (75%) than older staff (53%).
Pride is also stronger for employees who believe their organisation welcomes open and honest feedback, according to the report.
"They are also more likely to say their employer is respectful, supportive, and friendly," the report said. "When people don't feel their employer is open to feedback, they are more likely to describe the culture as inefficient, biased, and liable to favouritism."
Ghassan Karian, CEO of Ipsos Karian and Box, said their study underscores the need to address young or new starter attrition and associated costs.
"There is also a need to deepen the experience of an open, trusting and listening culture. All of which are factors critical to driving workforce engagement and performance," Karian said in a statement.
