As organisations across Singapore navigate record job vacancies in the race for talent, new Qualtrics research reveals the volume of employees planning to remain with their current employer for the next 12 months is just 53%- the lowest of any country in Asia Pacific.
The Qualtrics findings - taken from the Qualtrics 2022 Employee Experience Trends report - highlight the critical need for employers to prioritise improving the employee experience in order to attract and retain talent in the current business environment.
“For organisations wanting to retain talent, the top driver of intent to stay right now is creating a culture of belonging. Wellbeing, growth and development opportunities, and being customer focused were also called out as drivers of intent to stay and engagement in Singapore,” says the survey.
These findings represent a slight change from 12 months previously - when aside from belonging, engagement was driven by organisational efficiencies and confidence in leadership - highlighting a shift in employees’ mindsets.
Despite a slight drop in intent to stay over the last 12 months (-3%), employee engagement and wellbeing have both increased. However, resilience at work has dropped 11% in the same period - suggesting the current levels of wellbeing are not sustainable without action.
A key area for employers to focus on in hybrid environments is ensuring employees feel comfortable to take a sick day, with 18% saying they would not despite feeling unwell.
Many Singaporeans are also underwhelmed by the technologies provided in hybrid environments, with just a quarter (24%) saying it meets their expectations. Dissatisfaction with technology could be reducing productivity, with 36% of respondents saying their productivity has been negatively impacted by the tools provided.
“For businesses in Singapore to be successful in attracting and retaining talent in the current environment, they need to adopt new mindsets, and continue to define and iterate their new ways of working. As seen in the Qualtrics findings, addressing the challenges faced are not as simple as setting a new work schedule or offering higher salaries. People’s experience at work, and the career decisions they’re making, are being influenced by multiple factors, meaning the ability to quickly and easily identify and respond to the issues having the biggest impact is a significant advantage,” said Lauren Huntington, Employee Experience Solutions Strategist for Qualtrics in Southeast Asia.
The Qualtrics study was carried out between August and December 2021, and includes 1,005 respondents 18 years of age or older employed full-time across a range of industries in Singapore.