First Things First: Salary, benefits top-of-mind for job seekers in Singapore
Seven in 10 respondents in Singapore ranked ‘attractive salary and benefits’ as the most important employee value proposition (EVP) they look for in an ideal employer, reveals the survey results of the 2022 Employer Brand Research by human resources solutions agency Randstad.
Even though the appeal of ‘attractive salary and benefits’ dropped by 4% year-on-year, it is clear that remuneration is top-of-mind for job seekers and employees in Singapore.
According to the study, the top five employee value propositions that respondents seek in an ideal employer are:
- Salary & benefits : 70%
- Work-life balance : 69%
- Job security : 55%
- Pleasant work environment : 55%
- Career progression opportunities : 54%
“There is a very high demand for skilled talent as many companies are deepening their capabilities to drive digital innovation and meet growth goals. With the competitive labour market, employers are seen to be offering higher salaries to attract new talent this year, especially those who work in niche industries or have specialised skills,” said Jaya Dass, managing director for Randstad Malaysia and Singapore.
However, Dass added that employers should be aware that while high salaries can help attract new talent, it would take more to convince job seekers to accept the role. "Many job seekers today are looking for companies that can offer a comprehensive and positive growth experience, which would include hybrid work arrangements, healthcare support as well as training and development opportunities,” Dass said.
Unmet work expectations
Work-life balance is found to be one of the most unmet expectations. At 69%, ‘work-life balance’ ranked the second most important EVP factor respondents seek in an ideal employer.
However, when asked how their employers fared in supporting work-life balance, respondents ranked it eighth from a list of 10 EVP factors. This is a 6-point gap between what employees want and what employers are perceived to offer.
“Despite working from home for more than two years, some employees still struggle to strike that balance between work and their personal life. While working from home, there is a tendency to overlook the time and end up working extra hours after dinner or on weekends. However, this behaviour risks managers mistaking overworking for productivity, which may lead to additional workload being assigned to these employees. This would create work-life imbalance and stress-related mental health issues,” said Dass.
Remote workers drop in 2022
The percentage of respondents who worked fully or partially remotely dropped by 13% to 58% in January 2022. Both survey fieldworks in 2021 and 2022 were conducted when only half of the workforce is allowed to return to the offices.
Although fewer employees worked remotely this year, Singapore still ranked higher than the Asia Pacific average (42%) when it comes to hybrid and remote work.
More women seek work-life balance compared to men
Compared to men, women are more likely to have higher expectations when looking for a job. Nearly 72% of female respondents said that they seek work-life balance support from employers, but only 66% of male respondents shared the same sentiment.
“Work-life imbalance between the two genders is not a new issue. Rather, there is more awareness on gender inequality in recent years, as issues such as gender pay gap and motherhood penalty are being spotlighted. Companies that commit to making equal pay adjustments as well as offer flexible work and job sharing options can help encourage more women to stay in the workforce, without having to sacrifice their personal lives,” said Dass.
Work location, working hours define work-life balance
When asked what the respondents have done to improve their work-life balance in 2021, 35% of them said that they worked more remotely or from home, followed by 31% who chose to work flexible time. One in six respondents did not make any changes to their work arrangements to improve their work-life balance.
In Singapore, work-life balance is mostly defined by survey respondents as work location and working hours. More than one in two respondents (55% ) said that they want their employers to provide flexible work arrangements to maintain a good work-life balance. This is followed by healthcare benefits (43%) and fair compensation (42%).
- Flexible work arrangements :55%
- Healthcare benefits :43%
- Fair compensation :42%
- Employee perks :39%
- Compensation beyond salary :39%
“To most workers in Singapore, waking up early in the morning and taking the train during peak hours to work are unpleasant experiences that make going to work a dread. Working parents have to go back to juggling between their kids’ school schedules and their workload as well. Furthermore, some people are more productive when working from home as they are not distracted by impromptu conversations in the office. With a focus on meeting the immediate needs for better work-life balance amongst the workforce, employers should continue offering remote and hybrid work options to their employees,” Dass concluded.
Commissioned by Randstad, the online survey was independently conducted by Kantar TNS in January 2022 with 2,705 respondents who are based in Singapore.