Nearly half (48%) of Singapore respondents feel underpaid in their current role, reveals ADP’s annual flagship survey, People at Work 2024: A Global Workforce View.
This is the highest percentage across APAC countries surveyed, such as India (41%), Australia (42%), Japan (36%) and China (31%).
Among different industries in Singapore, workers in the Arts and Culture industry surveyed feel the most underpaid, with 67% of them expressing dissatisfaction with their pay.
Following are the respondents in the Professional Services industry (55%) and the Architecture, Engineering & Building industry (50%).
Yvonne Teo, Vice President of HR APAC at ADP, says, “Given the high importance employees place on salary in a job, an alarmingly high percentage of workers feel unsatisfied with their salary. Unhappy employees can result in a less engaged workforce and high turnover, negatively impacting business performances.”
The survey shows that Singapore respondents place even higher importance on salary this year (71%), up from 69% last year, which is the highest percentage among all countries surveyed globally.
Teo explained, “Employers need to manage their employees’ changing, sometimes lofty, expectations. Employers must clearly communicate corporate initiatives and how they will address the issues that are most important to employees.”
“It is essential to provide clarity on organisational objectives, the criteria for measuring success, and the ways employees contribute to achieving these goals. This is crucial for keeping employees engaged and motivated,” she said.
The survey reveals that workers would be happy with other forms of compensation if they are not able to receive a salary increase, such as:
- One-off bonus (e.g. Holiday/merit bonus): 44%
- Additional days of annual leave/paid time off: 38%
- One-off payment to help with cost of living: 34%
- Shorter work weeks: 33%
- Grocery/shopping vouchers: 31%
Meanwhile, it is worth noting that the majority (81%) of Singapore respondents have one income stream – the highest percentage compared to India, Australia, Japan and China surveyed.
Respondents in India, on the other hand, have the highest ratio of having two or more sources of income (41%).
