Singaporeans are more likely to leave their jobs if they feel unappreciated at work than if they are paid uncompetitive salary packages, according to a new study by Robert Walters.
The global recruitment consultant surveyed some 6,300 workers worldwide across a range of industry sectors including IT, engineering, banking and finance, and logistics. Of this base, 1,415 were from Singapore.
About 65 percent of respondents from the island-state said they would most likely leave their jobs due to a lack of recognition from management and a lack of career progression. In comparison, only 20 percent said they would quit over uncompetitive salary packages and benefits, the survey found. Only 3 percent of Singapore workers would consider changing jobs after receiving disappointing bonuses.
Other Asia-Pacific markets polled in the survey included Hong Kong, Japan and Malaysia.
Mark Ellwood, managing director of Robert Walters Singapore, said in a statement: "Investing in career progression is one of the most important things that any employer can do to retain staff. Whilst pay is important, far more vital to staff is knowing how their job will develop.
"Management needs to recognize and appreciate their [employees'] efforts. Paying out the biggest bonuses and highest salary won't necessarily guarantee that staff will stay put," Ellwood said.
An earlier survey by Robert Walters determined that IT professionals in Singapore, Malaysia and Hong Kong enjoyed salary increases of up to 40 percent last year. Released last month, the study found that companies were dishing out bigger pay packages in a bid to attract the best IT talent.
Another report from recruitment agency Hudson, indicated that employers in China, Singapore, Hong Kong and Japan, planned to reduce their hiring activities in the second quarter of 2008.