I quit: A third of Singaporeans to resign in two years
And in 2017, companies might be flooded with resignation letters.
According to a research by Hay Group, a global consulting firlm, long-term commitment is a casualty of low levels of employee engagement and employee enablement, with commitment levels falling to a five-year low in every major region.
In Singapore, 52 per cent of employees have acknowledged their intent to leave their present organisations within the next five years, with about one in every three planning this shift within two years.
Here's more from Hay Group:
More than two-fifths (44%) of the global workforce intend to leave their employers within five years, with more than one in five employees (21%) intending to leave in less than two years.
Employee commitment is lowest in Pacific, with 54 per cent of the workforce intending to leave their companies within five years. On the other end of the spectrum, commitment is highest in North America with three in five employees (62 per cent) intending to stay with their employer for five years or more. However, commitment has declined by five per cent since 2011.
Dr Stephen Choo, director at Hay Group Singapore, said, “Engaging employees alone, while important, is not enough to sustain maximum levels of employee effectiveness over time. Companies have to enable their employees by providing the necessary resources and systems to make maximum contributions, leading to higher productivity, business performance and ultimately customer satisfaction.”
He added, “Low engagement and enablement levels are depressing company performance worldwide. However, an important challenge to business is the looming threat of increased employee turnover.