Survey highlights salary dissatisfaction, with many open to alternative compensation options.
SINGAPORE: Almost 50% of Singaporean employees feel their salaries are inadequate, according to the “Workplace 2024: Global Workforce Perspectives” report by ADP, a leading payroll solutions provider. This rate of dissatisfaction is the highest among the 18 countries surveyed, underscoring growing concerns about compensation within Singapore’s workforce.
The report, based on a survey of over 34,000 employees globally, revealed that 48% of Singaporean workers believe they are underpaid. Sectors such as arts and culture showed the highest dissatisfaction, with nearly 70% of employees unhappy with their pay. Other sectors with notable discontent included professional services, architecture, engineering, and construction.
Salary Concerns Dominate Workforce Priorities
The survey also noted that 71% of Singaporean employees cited salary as their primary workplace concern, reflecting a two-percentage-point increase from the previous year. This emphasis on pay is higher than in any other surveyed nation, signaling a rising trend in salary awareness and expectations.
Exploring Alternatives to Salary Increases
Given the constraints on salary hikes, the report found that many employees in Singapore are open to alternative forms of compensation, including:
One-time bonuses for immediate financial relief.
Additional annual leave or paid vacation days to support work-life balance.
Living allowances to offset rising living costs.
Shortened work weeks with no reduction in pay.
Shopping vouchers as monetary equivalents for purchases.
Reliance on Primary Jobs
Another key finding is that 80% of Singaporean employees depend solely on their primary job for income. This is significantly higher than in countries like India, where 40% of workers hold multiple jobs—the highest proportion among surveyed nations.
Implications for Employers
The ADP report highlights critical opportunities for employers in Singapore to address workforce concerns. With salary dissatisfaction at unprecedented levels, offering creative compensation packages and addressing employee expectations could improve satisfaction and retention in a competitive job market.
Understanding these priorities and adapting to evolving employee needs will be crucial for building a motivated and committed workforce in Singapore’s dynamic economy.
