Alarming numbers of Singapore workers intending to quit their current jobs

According to Microsoft's first annual Work Trend Index which surveyed 30,000 workers across 31 countries including Singapore, over 49% of the Singapore workforce are planning to leave their employer this year. This is supported by another survey findings conducted by Indeed in early December which found that 49 percent of 1002 Singapore respondents were unsure if they would even stay in their current jobs in the upcoming 6 months, and a further 24 percent indicated that they were planning to quit in the first half of 2022.

While the Ministry of Health (MOH) announced lately that 50 percent of Singapore workers are expected to return to the office from Jan 1, it raises the question of whether a full return to office is indeed ideal in the foreseeable future. Or perhaps, do employees even want to return to the office full time just like pre-pandemic times?

A full Return to office facing hiccups around the world

Many global companies are now facing what is termed as a “shybrid” where companies are unwilling to accept that they have lost the right to demand employees to return fully to the office on a regular basis yet continually pushing back return dates with no information about a future working model and leaving their staff in limbo. This limbo could be a result of conflicting forces at play where a leader likes to be in the office and insists that everyone else should probably be back in the office as well while employees are pushing for flexibility in where or when they work. This growing sentiment from employees showing a high preference for flexible hybrid work is also echoed by Microsoft’s Work Trend Index where an overwhelming majority of 82 percent want flexible remote work options to stay and 62 percent of business leaders indicating that they are likely to redesign their workspaces for remote work.

How to encourage your employees to stay
The Indeed study further found that the top 5 reasons for Singapore staff to continue to stay in their current jobs are:
1) Flexible working options (56 percent said this)
2) Career progression (45 percent)
3) Appreciation from bosses (41 percent)
4) Acess to good healthcare (33 percent)
5) Mental health support initiatives (30 percent)

In order to achieve the following “stay factors”, companies need to rethink their retention strategies:

1) Reimagine Work From Home Policies
Companies need to start rethinking what it means to introduce flexibility into the workplace. This could take the form of a hybrid work arrangement or a shorter workweek as well as an entire job redesign altogether.

2) Listen to what your employees really want
While most companies conduct exit interviews and engagement surveys yearly, not many take follow-up actions. To enhance employee experience, leaders need to listen, share, discover and provide feedback to their staff. Communicate with your workers to identify limitations as well as potential solutions, act on them and revise work processes. Get to know your employees better and learn how to improve design experiences for them, including growth opportunities and refining a learning ecosystem.

3) Recognise your staff’s achievements beyond monetary benefits
A common question that employers asked is why their employees are still leaving despite the higher paychecks. As mentioned above about the “stay factors”, sometimes it could be something as simple as a sincere visible appreciative gesture that your staff can see, feel and remember. How a leader demonstrates recognition is also correlated with his/her social and emotional intelligence.

What do you think of this “great resignation” exodus in the local labour market? What steps could you take today to enhance employee engagement and improve talent retention?