HR BRIEFING
How companies can dodge the great resignation in 2022 Qualtrics reported that 58% of Singaporeans plan to switch jobs this year.
Work-life balance remains the most unmet candidate expectation amongst Singaporean workers
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efore Singapore’s job market can even heal from its talent crunch problem, it has received yet another blow—the great resignation. This phenomenon is set to hit companies in 2022 as 58% of employees plan to shift careers, according to a Qualtrics report. HR coaches, however, are saying that there are certain ways to dodge this problem. In an interview with Singapore Business Review, Randstad Singapore’s Managing Director Jaya Dass said companies should embrace and adapt quickly to the change in employees’ expectations around work and work-life balance to retain their talent pool. Dass said Randstad’s 2021 Employer Brand Research report found that work-life balance has become the most important employee value proposition amongst Singaporean professionals (74%), tied with salary and benefits. Qualtrics also had a similar finding, with 60% of their respondents citing work-life balance as the top reason for staying in their current companies. Despite this, Dass said work-life balance—which is driven by employees’ desire to work remotely or in a hybrid environment—remains the most unmet candidate expectation amongst Singaporean workers. This is backed by Monster.com’s study, showing that one in three Singaporeans were dissatisfied with their work-life balance. “In order to retain prized talent, employers will need to prioritise what is important to candidates and accommodate their desire for greater autonomy over where and when they work,” Randstad Singapore’s Dass said. “Having a comprehensive hybrid and remote work policy, supported by a targeted employer brand positioning and effective marketing communication strategy, will help organisations attract and retain quality talent much more easily,” the Randstad official added. Future of work A Qualtrics report found that 60% of employees would stay in their current employers if they provide them with a worklife balance, whilst those looking for new jobs want to enter 20
SINGAPORE BUSINESS REVIEW | Q2 2022
Jaya Dass
Angela Yang
To retain prized talent, employers must accommodate candidates’ desire for greater autonomy
companies that offer more flexible time off (50%) and hybrid work options (42%). Angela Yang, a partner at Page Executive, told Singapore Business Review that hybrid working will be the “default mode” in the future and flexible hours will be a trend amongst companies, but both will still depend on the nature of certain job roles. About 84% of CEOs surveyed by KPMG in 2020 expressed the same sentiment, saying that the remote working trend is “irreversible.” Based on a 2021 Ipsos survey, about 38% of Singaporeans are already working from home more often than they were before the COVID-19 pandemic. “Some roles, especially those in sales, marketing, and customer service will need to operate within a set of hours to optimise their exposure with clients,” Yang said. “Whilst a large-scale shift away from the traditional 9-6 model of work will be challenging, having a hybrid working schedule will help companies foster a happier, healthier workforce, lead to lower attrition rates, and nurture greater innovation through the use of digital tools during remote work,” Randstad Singapore’s Dass said. An April 2021 study by Mathew Mathews et. al also showed that 80% of those working from home enjoy the setup and 73% of the respondents were productive when working from home. Productivity was also seen amongst seven in 10 Singaporeans who were under a flexible working arrangement, according to the Ipsos survey. As companies shift into hybrid work, companies must also fundamentally change the way they view productivity, shifting their focus from quantity of work to quality. “When employers focus less on being process-based and more on being outcome-driven, they can better foster a workplace where it’s genuinely safe and acceptable for them to work remotely. In this regard, work is what you do and not where you do it,” Dass said. Other ways to retain talent The analysts said companies can also retain talent by addressing the reasons why employees quit their jobs. According to Qualtrics, the first reason why employees leave their companies is to seek more growth opportunities (51%), which Yang said can be answered by knowing “what growth and progress mean to their employees.” “Go beyond the usual development plan and tie that back to how the pandemic has changed their mental state, family situation, and [finances],” Yang said. The analyst also underscored that companies must have honest and pragmatic discussions on what opportunities they can offer their employees and that they should be clear on how and when this can be achieved.
