Firms in Singapore risk losing talent over mental health and fatigue
Businesses in Singapore are at risk of losing talent over mental health and fatigue as employers do not prioritise such issues, a survey by global consultancy firm Mercer Marsh Benefits (MMB) has found.
Only about 66% of employers in the city-state are actively taking steps to address mental health challenges, which is lower than the global average of 70%, and the average of 74% in Asia. The survey also showed that only 62% of employers in Singapore are taking steps to manage workforce exhaustion, which is lower than 66% globally, and 69% in Asia.
The survey polled 2,600 human resources and risk professionals from 25 countries and across industries in March. It found that about 92% of firms in Singapore regard health and safety as the most serious threat to businesses, compared with 89% of organisations in Asia, and 87% of organisations globally.
“It’s time for employers to prioritise these risks by creating a holistic talent strategy and realigning benefits programmes to better support employees,” said Neil Narale, Singapore leader at MMB. “When organisations start to put their people first, they will not only attract and retain top talent but also build a more resilient workforce in the long run.”