1 June 2017

Diversify incentives to retain talent, Robert Half says

§ Forty-three percent of Singaporean employees say they would be willing to receive lower pay in exchange for flexible working hours, 37% in return for the option to work from home and 28% for medical benefits.

§ Sixty-nine percent of Singaporeans are motivated by more than just pay.

Independent research* commissioned by specialised recruiter Robert Half shows many Singaporeans may value work-life balance more 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, Robert Half said, 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.

Matthieu Imbert-Bouchard, MD, Robert Half Singapore said: “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.”

“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.” 

The 2017 Robert Half Salary Guide is a resource on starting salaries and recruitment trends in finance and accounting, financial services and information technology. It offers a comprehensive overview of the current salary ranges, industry trends and specific job trends for finance and accounting professionals, finance professionals in the financial services sector and information technology professionals. The results and insights of the 2017Robert Half Salary Guide are based on comprehensive analyses, local job placements, local expertise and independent research of executives and office workers. For the first time Robert Half has also aggregated its data with Broadbean job posting data (a digital tool that captures job advertisement analytics and talent acquisition behaviour).

Robert Half a specialised recruitment consultancy. Founded in 1948, the company has over 325 offices worldwide providing interim management, temporary and permanent recruitment solutions for accounting and finance, financial services and technology professionals.


Download the 2017 Robert Half Salary Guide

*The research is developed by Robert Half and was conducted in February 2017 by an independent research firm, surveying 100 finance and accounting, 100 technology and 100 financial services employees in Hong Kong.

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