By Chuang Peck Ming
SINGAPORE - Good pay attracts workers but does not make them stay, according to a global poll that includes Singapore for the first time.
And employers here seem to appreciate this more than those elsewhere, because they are doing a better job of motivating and engaging their staff, says the poll by professional services firm Towers Perrin-ISR.
Three things keep Singapore workers 'plugged in and engaged' - opportunities for career advancement; their employer's reputation, especially in social responsibility; and they get to do their job, according to the poll, which was taken in the third quarter of 2007 to find out what attracts and retains employees.
Fifty-four per cent of the 800-plus employees polled here said they are happy and engaged where they are, though they would consider another job offer if one came along, the poll found.
The comparable figure is 45 per cent for their global peers, who generally are driven and engaged by different factors - management's sincerity and interest in the well-being of workers; and opportunities for skills improvement.
Like workers in Singapore, global employees are also turned on by a company's sense of social responsibility, according to the poll of 94,000 employees in 21 countries.
'The study shows that on the global stage, Singapore as a country is doing well from an engagement perspective,' says Hamish Deery, Towers Perrin-ISR's managing principal for the Asia-Pacific. 'This is because Singapore organisations have focused on getting the fundamentals in place, such as leaders who provide clear direction and training opportunities.'
The result is: Singapore workers have a stronger belief in their employers' goals (61 per cent versus 54 per cent for global employees) and are more willing to go the extra mile to help their company succeed (70 per cent versus 63 per cent globally).
Dr Deery said at a news briefing yesterday that an engaged work force puts a company in a stronger position in the war for talent. Engaged workers are more productive and innovative - and less likely to job-hop.
According to Dr Deery, Singapore workers are performing up to 15 per cent above their global peers. 'They are more competitive, they want to get ahead - more so than their global peers.'
The poll, which covered workers aged 18 to 60, shows that while concern about a company's reputation for social responsibility is an emerging trend worldwide, only 55 per cent of employees here believe their company has a good reputation in this area - even though Singapore scores relatively well in the global poll.
Forty-four per cent of Singapore workers polled rated career advancement the top factor for retention, against 36 per cent globally. 'Again, while Singapore performs well on a global stage, less than 50 per cent of staff are satisfied with career opportunities at their present companies,' Dr Deery said.
'Given the more mobile work force in Singapore, this is one way to anchor staff. It provides an opportunity to protect the organisation from any potential outside pull factors contributing to staff turnover that are particularly prevalent in a competitive employment market like we are seeing at the moment.'
Most Singapore workers - 61 per cent versus 54 per cent globally - are happy with their senior and immediate managers, and are confident that management is making the right moves for their company's future.
But workers here are also more demanding - 82 per cent versus 59 per cent globally - in terms of wanting 'high levels' of empowerment from their employer to do their job well and help them attain their professional goals.
This article was first published in The Business Times on July 24, 2008.
source:Good pay draws workers but fails to retain them: survey
SINGAPORE - Good pay attracts workers but does not make them stay, according to a global poll that includes Singapore for the first time.
And employers here seem to appreciate this more than those elsewhere, because they are doing a better job of motivating and engaging their staff, says the poll by professional services firm Towers Perrin-ISR.
Three things keep Singapore workers 'plugged in and engaged' - opportunities for career advancement; their employer's reputation, especially in social responsibility; and they get to do their job, according to the poll, which was taken in the third quarter of 2007 to find out what attracts and retains employees.
Fifty-four per cent of the 800-plus employees polled here said they are happy and engaged where they are, though they would consider another job offer if one came along, the poll found.
The comparable figure is 45 per cent for their global peers, who generally are driven and engaged by different factors - management's sincerity and interest in the well-being of workers; and opportunities for skills improvement.
Like workers in Singapore, global employees are also turned on by a company's sense of social responsibility, according to the poll of 94,000 employees in 21 countries.
'The study shows that on the global stage, Singapore as a country is doing well from an engagement perspective,' says Hamish Deery, Towers Perrin-ISR's managing principal for the Asia-Pacific. 'This is because Singapore organisations have focused on getting the fundamentals in place, such as leaders who provide clear direction and training opportunities.'
The result is: Singapore workers have a stronger belief in their employers' goals (61 per cent versus 54 per cent for global employees) and are more willing to go the extra mile to help their company succeed (70 per cent versus 63 per cent globally).
Dr Deery said at a news briefing yesterday that an engaged work force puts a company in a stronger position in the war for talent. Engaged workers are more productive and innovative - and less likely to job-hop.
According to Dr Deery, Singapore workers are performing up to 15 per cent above their global peers. 'They are more competitive, they want to get ahead - more so than their global peers.'
The poll, which covered workers aged 18 to 60, shows that while concern about a company's reputation for social responsibility is an emerging trend worldwide, only 55 per cent of employees here believe their company has a good reputation in this area - even though Singapore scores relatively well in the global poll.
Forty-four per cent of Singapore workers polled rated career advancement the top factor for retention, against 36 per cent globally. 'Again, while Singapore performs well on a global stage, less than 50 per cent of staff are satisfied with career opportunities at their present companies,' Dr Deery said.
'Given the more mobile work force in Singapore, this is one way to anchor staff. It provides an opportunity to protect the organisation from any potential outside pull factors contributing to staff turnover that are particularly prevalent in a competitive employment market like we are seeing at the moment.'
Most Singapore workers - 61 per cent versus 54 per cent globally - are happy with their senior and immediate managers, and are confident that management is making the right moves for their company's future.
But workers here are also more demanding - 82 per cent versus 59 per cent globally - in terms of wanting 'high levels' of empowerment from their employer to do their job well and help them attain their professional goals.
This article was first published in The Business Times on July 24, 2008.
source:Good pay draws workers but fails to retain them: survey