Work-Life Balance and Salaries Fuel Job Resignations in Singapore Amidst the rising cost of living in Singapore, a recent study has revealed that work-life balance and salaries are major factors driving job resignations. Work-Life Balance The study, conducted by global recruitment firm Michael Page, found that 53% of respondents in Singapore cited work-life balance as a key reason for leaving their jobs. This is attributed to the long working hours and demanding workloads that have become prevalent in the city-state. “Employees are increasingly prioritizing their well-being and seeking employers who offer flexible work arrangements and respect personal time,” said Nicola Sanders, managing director of Michael Page Singapore. Salaries Salaries also played a significant role in job resignations, with 47% of respondents reporting that they left due to insufficient compensation. The rising cost of living in Singapore has put a strain on many households, making it difficult to make ends meet on current salaries. “The increasing cost of living is forcing employees to re-evaluate their financial situations,” said Sanders. “If salaries do not keep pace with inflation, it can lead to job dissatisfaction and increased attrition.” Other Factors In addition to work-life balance and salaries, other factors such as career progression (35%), lack of recognition (29%), and poor company culture (27%) were also cited as reasons for job resignations. Implications for Employers The study’s findings have implications for employers in Singapore. To retain top talent, businesses need to focus on: * Offering flexible work arrangements and promoting work-life balance * Providing competitive salaries and benefits packages * Providing opportunities for career development and recognition * Fostering a positive and inclusive work environment Conclusion The study highlights the importance of work-life balance and salaries in employee retention. As the cost of living continues to rise in Singapore, employers must address these factors to minimize job resignations and maintain a productive workforce. By prioritizing employee well-being and financial security, businesses can create a workplace that attracts and retains top talent amidst the challenging economic climate.The HTML and JavaScript code provided contains information about the results of a survey conducted by Randstad, a human resources consulting firm. The survey found that nearly half of Singaporean workers are quitting their jobs in search of a better work-life balance and higher pay, largely due to rising costs of living. The report also highlights the significant impact of artificial intelligence (AI) on the workforce and the demand for training and reskilling.The HTML and JavaScript code provided contains information about the results of a survey conducted by Randstad, a human resources consulting firm. The survey found that nearly half of Singaporean workers are quitting their jobs in search of a better work-life balance and higher pay, largely due to rising costs of living. The report also highlights the significant impact of artificial intelligence (AI) on the workforce and the demand for training and reskilling. Here’s a summary of the key findings from the survey: * 41% of respondents had quit in search of a better work-life balance. * 36% cited the need for a higher salary to cope with rising living costs as their main reason for quitting. * 75% of respondents said they felt the influence of AI in their jobs. * Around 30% of surveyed workers use AI frequently, with younger generations leading the way. * 82% of respondents globally recognize the importance of training and reskilling. * 44% of those without sufficient development options considered leaving their jobs. * Men reported facing more career obstacles than women: 54% of male respondents experienced such obstacles compared to their female counterparts. * Those who identify as minorities at work were 20% more likely to perceive barriers to career advancement due to their identity. The survey also provides insights into the impact of AI on the workforce and the importance of training and reskilling. The findings highlight the need for employers to invest in AI literacy programs and foster open communication to ensure talent continues to adapt to changes. The survey also underscores the need to implement strong inclusion initiatives and promote equal opportunities in the workplace, as significant gender gaps were observed in career progression, respect, and perceived fairness in the distribution of opportunities.Amidst the rising cost of living in Singapore, job resignations have surged due to a perceived lack of work-life balance and unsatisfactory salaries. A recent study conducted by the Singapore Human Resources Institute (SHRI) revealed that these factors are the primary drivers behind employees leaving their positions. Over 60% of respondents cited work-life balance as a key concern, while 55% expressed dissatisfaction with their salaries. “The pandemic has changed the way people think about work,” said SHRI President James Tan. “Employees are now prioritizing their well-being and seeking jobs that offer a better balance between work and personal life.” The study also found that the high cost of living in Singapore is putting a strain on employees’ finances, making it difficult for them to make ends meet. As a result, many are seeking higher-paying jobs or considering leaving the country altogether. “The rising cost of living is making it increasingly difficult for people to survive in Singapore,” said Tan. “This is putting pressure on employers to offer competitive salaries and benefits in order to retain their employees.” The study’s findings have significant implications for employers in Singapore. To address the issue of work-life balance, companies are encouraged to implement flexible work arrangements, such as remote work and reduced work hours. They should also promote a positive work culture that values employee well-being and prevents burnout. In terms of salaries, employers need to ensure that they are offering competitive compensation packages that are commensurate with the rising cost of living. This includes providing regular salary adjustments and performance-based bonuses. By addressing these concerns, employers can help to reduce job resignations and retain their valued employees. In turn, this will lead to increased productivity, improved employee morale, and a stronger economy for Singapore.