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Do your staff feel like they have a food work-life balance? If not, it may be time to look into it.
According to a Robert Half survey of 500 Singaporean job seekers, a quarter (25%) said they would leave their current organisation for better work-life balance.
This was closely followed by 24% who would quit to get financial rewards, 23% who would throw in the towel for more career development. Another 16% cited management/ leadership, while 5% said co-workers as being the primary reason why they would leave the organisation.
Despite work-life balance increasingly becoming a key motivator for Singapore’s professionals, salary remains a crucial incentive to attract and retain top talent, especially hard-to-find professionals. One such industry is the finance and accounting sector where 100% of Singaporean CFOs found it challenging to find qualified professionals.
The 2018 Robert Half Salary Guide revealed the overwhelming majority (99%) of Singaporean CFOs plan to award pay rises to an average of 25% of their finance staff, with the average salary increase expected to be 7%. At the same time, 43% reported conducting regular salary reviews.
Apart from that, local finance employers also understand the importance of a well-developed retention policy, with 99% stating they have staff retention initiatives in place. These include training and professional development programmes (57%), flexible working arrangements (51%), employee appreciation programmes (49%), and employee wellness programmes (47%).
Matthieu Imbert-Bouchard, managing director of Robert Half Singapore, said: “With Singapore’s employers vying over top financial talent, it’s vital for companies to have a proactive recruitment and retention strategy in place to not only hire top talent, but also to avoid losing their best people. It’s not just about finding and recruiting the best people, retention strategies are essential for business growth, as losing talent can lead to lost productivity and increased workloads for current staff.”
Finance and accounting salaries
The 2018 Robert Half Salary Guide has also identified the top finance and accounting roles in demand in 2018 and their corresponding salary range.
Financial planning and analysis manager
- 25th percentile: $90,000
- 50th percentile: $115,000
- 75th percentile: $140,000
- 95th percentile: $160,000
- 25th percentile: $90,000
- 50th percentile: $110,000
- 75th percentile: $135,000
- 95th percentile: $150,000
- 25th percentile: $100,000
- 50th percentile: $130,000
- 75th percentile: $160,000
- 95th percentile: $175,000
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