[Singapore] 30 January, 2013: Without a doubt, money matters when it comes to motivating employees and lifting their performance and productivity, but it’s not all that is important. According to a survey by specialist finance and accounting recruitment firm, Robert Half, the opportunity to work overseas is the most important motivator aside from remuneration, for banking and financial services employees in Singapore.
More than 600 financial services Chief Financial Officers (CFOs), Chief Operations Officers (COOs) and Finance Directors (FDs) in five countries took part in the survey, including 150 from Singapore.
According to the Singapore financial services leaders, 26 per cent of employees are motivated by the opportunity to work overseas, followed by 25 per cent of employees who want title and career progression. The next most important factors that motivate financial services employees are reduced work hours (23 per cent), followed by the chance to work from home(13 per cent), and exposure to senior level projects (13 per cent).
Singapore is the only country where global opportunities are the biggest motivator for staff. Globally, title and career progression is the top choice (28 per cent), followed by reduced working hours (27 per cent).
In Hong Kong, the biggest motivator is the desire to work fewer hours (33 per cent). Career progression is the best motivator in Australia (29 per cent), Germany (34 per cent) and the United Kingdom (37 per cent).
Ms Stella Tang, Director of Robert Half Singapore said the survey results reflect the international outlook of Singapore’s banking and financial services employees.
“Banking and financial services companies in Singapore are globally interconnected with major markets in the world, so it makes sense for Singapore employees to want to get experience in as many markets as they can.”
“Singapore employees who seek global opportunities and international experience are taking a long term view of their careers. Once they have secured their international exposure, they expect to advance rapidly through the ranks.”
“As Singapore is a major financial centre and the headquarters of numerous multinational companies, employers in Singapore have much greater scope to send their staff on an overseas assignment.”
“Affording employees global opportunities and offering challenging assignments where they are enabled to develop, grow and succeed will not only help companies to retain talented staff but also attract new employees when it’s time to hire,” Ms Tang added.
Public Relations Manager, Asia Pacific
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