SINGAPORE: Nearly half of Singaporean employees believe their salaries are inadequate, according to the “Workplace 2024: Global Workforce Perspectives” report published by ADP, a global leader in payroll solutions.

The report, based on a comprehensive survey of over 34,000 employees across 18 countries, highlights significant concerns about compensation within Singapore, positioning it at the top among the surveyed nations for salary dissatisfaction.

The survey, conducted in early 2024, revealed that 48% of Singaporean employees feel underpaid in their current roles. This percentage represents the highest rate of salary dissatisfaction among all the countries included in the study.

The report identifies employees in the arts and culture sector as the most discontented, with nearly 70% expressing dissatisfaction with their pay.

Following this sector, notable levels of dissatisfaction were also recorded in the professional services and architecture, engineering, and construction industries.

The findings suggest a growing emphasis on salary among Singaporean workers. A substantial 71% of local employees reported that salary is their primary concern, marking an increase of two percentage points from the previous year.

This figure is the highest among the countries surveyed, indicating a rising trend in salary awareness and expectations among the workforce in Singapore.

In light of these concerns, Singaporean employees appear open to alternative forms of compensation when salary increases are not feasible. The report highlights several preferred alternatives, including:

  • One-time Bonuses: Immediate financial incentives outside of regular pay.
  • Additional Annual Leave or Paid Vacation Days: More time off to balance work and personal life.
  • One-time Living Allowances: Lump sum payments to support living costs.
  • Shortened Work Weeks: Reduced working hours without a decrease in pay.
  • Shopping Vouchers: Monetary equivalents for consumer purchases.

Another significant finding from the survey is that 80% of Singaporean employees rely solely on their primary job as their source of income.

This percentage is higher compared to countries like India, Australia, Japan, and China. In contrast, India shows a notably different trend, where 40% of employees engage in multiple jobs, the highest proportion among all surveyed nations.

The insights from the ADP report underline critical areas for employers in Singapore to consider. Addressing salary dissatisfaction and offering flexible compensation alternatives could be key to improving employee satisfaction and retention.

As salary concerns grow, understanding and responding to these expectations will be crucial for maintaining a motivated and committed workforce in Singapore’s competitive job market. /TISG