Robert Half research shows the balance between the professional and personal lives of Singapore’s financial services employees is improving.
- 68% of Singaporean CFOs within financial services say the work-life balance of their employees has improved compared to three years ago.
- 91% say an improved work-life balance among employees has a positive impact on overall workforce performance.
- 97% have initiatives in place to improve the work-life balance of their staff, with additional leave the most popular method.
The balance between the professional and personal lives of Singapore’s financial services employees is improving, as new independent research commissioned by specialised recruiter Robert Half reveals more than two in three (68%) Singaporean CFOs within the financial services industry say the work-life balance of employees in their organisation has improved over the past three years.
Almost one in three (29%) say their staff’s level of work-life balance has remained the same over the same time period, and only 3% say it has decreased.
With more than nine in 10 (91%) CFOs acknowledging the positive impact on performance brought about by work-life balance, financial services employers understand their business stands to benefit from improving the professional and personal balance of their staff.
Matthieu Imbert-Bouchard, Managing Director of Robert Half Singapore said: “With financial services being a fast-paced environment, obtaining work-life balance is not only highly beneficial for employees as it helps reduce stress and increase job satisfaction, but it also brings advantages to companies that go beyond increased productivity. Organisations who prioritise and actively promote work-life balance initiatives have a competitive edge in the war for talent as they frame themselves as an employer of choice.”
The vast majority (97%) of Singapore’s financial services employers are actively encouraging a positive work-life balance for their staff, with current initiatives including: additional leave/holidays (47%), flexible work hours (41%), company restrictions on use of mobile devices outside of office hours (29%), on-site amenities such as childcare and gyms (27%) and restricting working hours (25%).
“Flexible working arrangements and working from home are great ways for companies to allow their staff to work productively around family and personal commitments. By investing in mobile and agile technologies, as well as embracing advanced communications methods, employers can offer their staff a viable alternative to being in the office.”
“To continue to promote proper work-life balance, employers should also discourage the ‘workaholic’ attitude and restrict employee access to the workplace outside of regular office hours. Whilst some overtime may be expected during peak times on the business calendar, financial services workers should not be encouraged to sacrifice their personal and family commitments for the sake of their careers,” concluded Matthieu Imbert-Bouchard.
About the research
The annual study is developed by Robert Half and was conducted in December 2017 by an independent research firm, surveying 75 CFOs and Finance Directors in financial services in Singapore. This survey is part of the international workplace survey, a questionnaire about job trends, talent management and trends in the workplace.