SINGAPORE::: S’pore workers most unhappy in Asia

According to Ranstad's World of Work Report 64% of Singaporeans planned to quit
 their job within the next 12 months.

SINGAPORE: Singapore may be a banking
 and trade center with world-class amenities
 and high per capita income but its workers
 are grossly unhappy and wanting to quit
 their jobs.

A recent survey posted an unprecedented level
 of public discontent over the rising cost of living
 and competition from foreign workers.

According to Ranstad’s World of Work
 Report  64% of Singaporeans planned to quit
 their job within the next 12 months.

The top reasons were an unsuitable corporate culture, difficult bosses and being asked to
 do more with less.

Hong Kong workers were second only to Singapore in terms of their lack of motivation
 (22% while Singapore recorded 23%).

Indian workers were however the happiest in Asia, with about 70% feeling challenged,
 motivated and mentored, said the survey of 14,000 employers and professionals in
 Singapore, Malaysia, Hong Kong, mainland China, India, Japan, Australia and New Zealand.

In March last year a survey by recruitment agency Ranstad among 4,500 white collar workers
 also revealed deep dissatisfaction

The surveyed employees reportedly said that they felt that they have helped their companies
 through tough years, and with the outlook for the Singaporean economy now being more
 positive, they want their efforts to be recognised or they will leave.

Singapore has delivered dire economic data over in the past as industrial output slumped
 and weaknesses were seen across a range of industries including electronics, precisio
n engineering and biomedical.

The wealthy city state closely avoided recession in the fourth quarter of 2012.

Higher levies for foreign workers

The Ministry of Trade and Industry had last year projected that the Singapore economy would
 grow by one to three percent.

The World Bank expected Singapore to record a two percent growth last year. It projected a
 four percent growth for Singapore in 2014.

The survey also found that about a third of the employees in the sample will stay with a 
company if it offers long-term job security, competitive salary and benefits.

Singapore, which has long attracted talented foreign workers, has cut the quota for foreign 
job-seekers and imposed higher levies on companies.

Immigration has become an increasingly prominent issue in Singapore, with local residents
 vocally complaining of the high number of migrants entering the city state in recent years
 and allegedly pushing up the cost of living and the price of real estate.

The country’s finance minister stated that foreign workers and immigrants now account for
 more than one third of the total workforce and the government needs to improve job
 prospects for the native population.

Quotas on foreign workers will most impact the services and marine sectors, including
 restaurants, retail shops and marine engineering firms, economists said.

Meanwhile the Singapore government has already sought to rein in living costs and
 tighten the labour market for foreigners.

The steps include raising the minimum salary for foreigners seeking an employment 
pass to $3,300 Singapore dollars (RM8,200) per month and obliging employers to
 advertise job vacancies to Singaporeans for 14 days before an overseas worker can be hired.

This report first appeared in http://www.investvine.com

source:::http://www.fmtborneoplus.com