4-Day Work Week? 69% of Singapore Employers Say It’s Feasible!

In April 2024, a poll by payroll and HR solutions provider ADP found that nearly a third of Singaporean workers expect the four-day work week to become standard within the next five years. Notably, 21% of workers reported that their employers have already implemented this model to promote better mental health at work.

As the year progressed, another survey by recruitment agency Robert Walters revealed that 69% of Singaporean employers now consider the four-day work week “a feasible concept.” Employee enthusiasm, however, was even greater as 93% of workers expressed interest in a trial of the shorter work week. Neighboring countries like Malaysia and Thailand echoed this sentiment, with 94% and 95% of workers in these nations, respectively.

The survey, which gathered insights from over 5,000 professionals across 11 Asian markets, placed Singapore in the middle regarding support for the four-day work week.

SOUTHEAST ASIA LEADS

Southeast Asia appears to be the most optimistic region about this shift in work culture. Compared to places like Hong Kong, China, Taiwan, and South Korea, professionals and businesses in this region are more open to experimenting with a shorter work week.

Image Credits: unsplash.com

WORKPLACE CHANGES

While many HR experts agree that a four-day work week could improve work-life balance, boost employee happiness, and even enhance productivity, they caution that Singapore may not embrace this change immediately.

Aslam Sardar, CEO of the Institute for Human Resource Professionals, noted that Singaporean employers’ hesitancy could stem from the country’s highly competitive business environment. Concerns about operational impact, especially in specific industries, and the complexities of implementing such a shift are key reasons for their caution. Significant organizational changes, cultural adjustments, and technological advancements like automation and job redesign will be critical to making this model work, according to Sardar.

FUTURE IMPLEMENTATION

Despite the hurdles, many Singaporeans are eager to give the four-day work week a try. They view it as a way to improve work-life balance and spend more time with their families. In fact, 96% of professionals surveyed said they would be more inclined to apply for jobs at companies offering this flexible arrangement.

However, when it comes to making compromises, most workers are unwilling to trade reduced salaries or bonuses in exchange for shorter hours, signaling that while the demand for change is high, financial security remains a top priority.

Image Credits: unsplash.com

While the four-day work week is gaining traction, it may take time before it becomes the norm in Singapore, as businesses and workers balance the potential benefits with the challenges of implementation.

Sources: 1, 2, & 3

Read More...

Highest Paid Positions In Singapore (2018)

When the 2018 Michael Page Salary Guide was released, it highlighted the salary benchmarks for an array of jobs across many sectors and industries in Singapore. Naturally, you may focus on the higher end of the spectrum – those people who earn the most. However, investigation must not stop with a single survey! I came up with a slim list that includes data from PayScale. PayScale is a company which, “pioneered the use of big data and unique matching algorithms to power the world’s most advanced compensation platform”.

On that note, here are the Highest Paid Positions In Singapore (2018):

#5: QUALITY ASSURANCE DIRECTOR

Other than a potent Wi-Fi connectivity, Quality Directors are in demand countrywide. There is a growing need in the following sectors: semi-conductor, aerospace, and chemical. Quality Assurance Directors in these sectors can expect a salary of about S$173,000 to S$315,000 each year.

Holding excellent technical and people management skills will help you to become a Quality Assurance Director.

#4: HUMAN RESOURCES (HR) DIRECTOR

As the global workplace puts emphasis on developing human capital, the head of Human Resources can negotiate a salary of up to S$328,000 annually. A key factor that contributes to the salary is the individual’s years of experience or prior background as a HR Business Partner. HR Business Partners are tasked to align the company objectives with the employees found locally, regionally, or internationally. Furthermore, they serve as a consultant to management on HR-related issues.

Image Credits: pixabay.com

In general, HR Directors found in the banking or financial sector earn the most.

#3: MANAGING DIRECTOR (HEALTHCARE)

It is no secret that Singapore upholds its position as Asia’s fastest growing bio-medical hub! Thus, it creates the need for higher level talents in this industry. Managing Directors in the healthcare sector make a significant amount of money to accompany their significant responsibility. It has been observed that healthcare employers are prepared to provide career progression opportunities to mid to senior-level talents. You can be groomed to earn up to S$390,000 per year.

#2: CHIEF FINANCIAL OFFICER

In banking and financial services sector, executive level talent is always sought-after! Our generation’s Chief Financial Officers are more strategic, pronounced, and immersed. The deeper integration in strategy, planning, and performance management entails an asking salary of about S$144,257 to S$455,977 per year.

#1: LEGAL COUNSEL

Lawyers in the private practice have the highest salaries as they earn an average of S$500,000 annually.

Image Credits: pixabay.com

Without a doubt, the years of experience play an integral part in determining one’s salary. For instance, lawyers with 10 years of experience can earn up to S$375,000 a year. You can expect a 25% jump in their salary (approximately) as you transcend the 15 year mark.

Sources: 1 & 2

Read More...