- DBS Bank, OCBC Bank, and Far East Hospitality make the Aon Best Employers - Singapore list for the first time.
- National Kidney Foundation recognised in the newly-introduced special recognition category, Best Employer for Voluntary Welfare Organisation.
- Best Employers in Singapore led the way with a 27-point higher engagement score and with 2.1 times more highly engaged employees than market average.
- Best Employers in Singapore achieved 18% higher revenue and 11% higher profit than market average.
Aon Hewitt, the global talent, retirement and health solutions business of Aon, has named seven organisations as Aon Best Employers - Singapore 2016.
|Source: Aon Hewitt. From left: Na Boon Chong, Senior Client Partner, |
South East Asia, Aon Hewitt with Aon Best Employers Singapore 2016.
In this year's challenging business environment, CEOs continue to identify rising salaries and a critical skills shortage as their top people risks in the market. This year, poor availability and selection of talent also arose as a top-three people risk.
Best Employers achieve 27 points higher engagement scores than the market average by standing out in three areas:
Employees at Best Employers are 1.3 times more likely to feel their organisations offer excellent career opportunities compared to other strong performers in the market and industry.
Employees at Best Employers are 1.2 times more likely to feel that senior leadership treats them as the organisation's most valuable asset.
Rewards and recognition
Employees at Best Employers are 1.3 times more likely to feel well-recognised and rewarded (beyond pay and benefits) for their efforts.
According to Aon Hewitt, Best Employers have four qualities:
High employee engagement
- Best Employers achieve engagement scores of 80% (market average, 63%).
- Eight in 10 (78%) of Gen Y employees at Best Employers feel confident of their future career opportunities in their organisation (market average, 55%).
- Best Employers develop engaging leaders, with 100% of Best Employer organisations providing effective feedback on how leadership styles influence the team (market average, 68%)
- More than eight in 10 (86%) Best Employers have formal mentoring programmes to develop an effective leadership pipeline (market average, 54%).
Compelling employer brand
- Eight in 10 employees at Best Employers believe their organisation delivers on its promises (market average, 61%).
- Best Employers have great ambassadors, with 84% of employees saying they would recommend the organisation to someone looking for a job (market average, 65%)
High performance culture
- More than eight in 10 (86%) Best Employers integrate promotion-linked goals into performance management (market average, 54%).
- Seven in 10 (71%) Best Employers hold their managers accountable for their team' engagement levels by linking managers' performance ratings with employee engagement levels.
The Aon Best Employers - Singapore 2016 are:
|The Ritz-Carlton, Millenia Singapore||Best of the Best Employers|
|American Express Singapore||Best Employer - Singapore|
|DBS Bank||Best Employer - Singapore|
|DHL Express Singapore||Best Employer - Singapore|
|Far East Hospitality||Best Employer - Singapore|
|Mundipharma||Best Employer - Singapore|
|OCBC Bank||Best Employer - Singapore|
Marriott International - Singapore is also named an Aon Best Employer - Singapore 2016 through the Global programme. In addition, American Express, DBS Bank, FedEx Express Asia Pacific, and The Ritz-Carlton Hotels and Resorts, Asia Pacific are recognised as Aon Regional Best Employers in Asia Pacific 2016.
Four special recognitions were also given out:
|FedEx Express Singapore||Best Employer for Commitment to Engagement|
|American Express Singapore||Best Employer for Generation Y|
|Berries World of Learning School (TCC)||Best Employer for Small Medium Enterprise|
|National Kidney Foundation||Best Employer for Voluntary Welfare Organisation|
Jeremy Andrulis, CEO Southeast Asia, Aon Hewitt, said: "Critical skills shortage and poor availability of talent are the top people issues faced by CEOs in Singapore today. Best Employers focus on enabling talent strategies to drive business results across the entire employee life cycle, from pre-recruitment to exit. This includes agile and rapid delivery of HR services via cloud-based solutions as well as using technology for continuous listening - or gathering feedback and taking action regularly."
Gitansh Malik, Regional Leader - Aon Best Employers Asia Programme, Aon Hewitt, said: "The average person spends 2.5 hours on mobile devices daily, and expects the same consumer-grade experience from their interactions with their employers as they do with their social networks. Through digital HR transformation, Best Employers are well-positioned to deliver an exceptional employee experience and drive engagement."