Job security outweighs salary for employees in Singapore

Employees in Singapore prioritise stability and job security over salary, while good leadership is key to retain talent and maintaining employee wellbeing.
By: | November 14, 2022

The impact of the pandemic, an uncertain economic environment and burnout experienced by the majority of knowledge workers in Singapore, have changed what they seek from their jobs, according to research by workforce communications platform Slack.

Singapore workers now value stability and job security (53%) over salary (40%) when it comes to choosing the company they work for. Having a good manager was also cited as important (31%) when accepting jobs.

The survey, Leadership and The War for Talent, accounted for opinions of over 1,000 knowledge workers in Singapore, and identified that workers identified teamwork and collaboration, transparent and trustworthy leadership, flexible work, and employee wellbeing as the four biggest factors in driving organisational success.

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Over two-thirds of workers in Singapore want to be trusted with their job responsibilities regardless of location or hours worked. Some 16% of respondents admitted to ‘quiet quitting’, which means that they fulfil their daily obligations, but do not go above and beyond in their jobs.

Shweta Verma, Country Manager, Singapore, Slack, said, “The reality is that many Singaporean professionals are burnt out. Leaders have an obligation to address this, not least for the wellbeing of their employees, but also to drive the productivity of their organisations.”