In Singapore’s fast-paced employment market, career-orientated professionals are continuously seeking to improve upon their current remuneration. However, new independent research commissioned by specialized recruiter Robert Half shows many Singaporeans may in fact value work-life balance more so than higher pay.
With 69% of Singaporeans saying they are motivated by more than just pay, the Robert Half 2017 Salary Guide has found many Singaporean employees consider work-life balance options to be more attractive than higher pay. Almost half (43%) of Singaporeans would accept less pay in exchange for flexible working hours, and more than one in three (37%) would prefer the option to work from home over a salary increase.
Non-financial benefits are a clear motivator for Singaporeans, as more than one in four (28%) would accept a lower wage in return for more medical benefits, and one in five (20%) would prefer an increased holiday allowance.
“While salary is still the most vital element of a remuneration package, flexibility has become increasingly important, with many Singaporeans starting to prioritise other benefits that positively impact their work-life balance,” says Matthieu Imbert-Bouchard, Managing Director at Robert Half Singapore.
“In an indication that non-monetary benefits can be a prime motivator in the workplace, flexible working hours, additional holidays and the option to work from home are highly sought-after, contributing to a satisfied, motivated, productive and loyal workforce.”
“In a fast-paced working environment where employers are confronted with a continuous war for talent, employers need to diversify their incentives offerings – and look beyond the financial aspect - in order to attract and retain their best talent,” concluded Matthieu Imbert-Bouchard.