Singapore - The need for a higher salary is what drives Singaporeans to jump to a better job, reveals a new survey by Hays.

After polling 408 Singaporeans, 39% say the biggest reason behind their search a new job is to increase their salary. Another 31% say they just want a change in their job while 29% say they feel undervalued by their line managers.

In light of these responses, Chris Mead, general manager of Hays Singapore, says this shows how important it is for companies to ensure salaries are consistent within the market.

While appropriate compensation is important, Mead emphasises that it cannot be a "one size fits all" policy, and companies need to examine a full range of retention strategies to retain as many employees as possible.

He says some of the strategies companies should consider adopting includes career development, flexible hours and encouraging employees to take on different responsibilities. “Employees also need to feel valued from above. This can be as simple as a manager saying a public ‘thank you’ for an employee’s successful result and talking to staff about plans for the business and their place in those plans," Mead adds.