According to Mercer’s 2018 Global Talent Trends Study – Unlocking Growth in the Human Age, 82% of employees in Singapore view flexible work options as a core part of their value proposition, as younger employees think about their careers in a different way, to seek purpose over presence at work. With that said, Mercer identifies five global workforce trends for 2018:
- Permanent flexibility
- Working with purpose
- Platform for talent
- Digital from the inside Out
An emerging concept that allows younger employees to seek for a purpose-driven career, and for women with young families to continue contributing to an organisation, permanent flexibility addresses professionals’ expectations of work arrangements that put them in control of their personal and professional lives.
On that note, 82% of executives view flexible working as a core part of their value proposition. Only 1% of executives consider themselves industry leaders when it comes to enabling flexibility (Singapore having the lowest score in the survey, alongside Hong Kong); while 48% of employees fear that choosing flexible work arrangements will impact their promotion prospects.
“With permanent flexibility, most employers believe they would not be able to monitor contract workers like full-time employees. It also has a strong association with the idea of cost-cutting by using a ‘temporary workforce’. With the younger workforce becoming more vocal around flexibility, we will see an increasing number of companies trying to address this need,” said Vidisha Mehta, Career Solutions Leader - South & East Asia, IMETA at Mercer.
On a whole, Mehta said: “Given the ageing population in Singapore, ensuring a diverse talent pool in the workforce for all life stages is both a business and a societal imperative. Introducing permanent flexibility in workplaces is challenging for organisations in traditional industries such as manufacturing, as it involves offering flexible working hours and contract workforces to project-based freelance staff. Options also include borrowing talent from related sectors, clients and vendors, as well as crowdsourcing options.”
Meanwhile, Bonic commented: “This year we saw palpable excitement from executives about shifting to the new world of work. They are pursuing an agenda of continuous evolution – rather than episodic transformation – to remain competitive.”
“This vision requires a fundamental shift in how we source and deploy talent and rethink the models of talent management – matching right talents for the job to drive insights and decision making,” he continued.
This study shares insights from over 7,600 senior business executives, HR leaders, and employees from 21 industries and 44 countries around the world.
Lead Photo / Mercer
Infographics / Mercer