Almost three quarters (73%) of Singaporean employees expect that work-life balance will improve as working from home regularly becomes a permanent option, according to the UOB ASEAN Consumer Sentiment Study which was conducted jointly by UOB and Blackbox.
The study, which surveyed some 3,510 individuals aged 18 to 65 years old across five Asean countries including Singapore, Malaysia and Thailand, found that flexible work arrangements are “critical” to achieving work-life balance post-Covid-19.
Some 70% of Singaporean employees also expect their productivity to improve as they have greater freedom to manage their working hours.
Despite the optimistic outlook, 89% of Singapore employees feel that they have to work longer hours to avoid losing their jobs.
In terms of job security amid Covid-19, Singapore employees ranked fourth behind Indonesia (92%), Malaysia and Vietnam (90% each), while 87% of employees in Thailand felt that they had to put in extra hours to hold their jobs.
However, employees in Singapore (88%) were also the most concerned that companies will choose to retrench workers in a bid to cut costs, compared to their Asean counterparts.
In terms of mental health, about one in two Singaporeans (56%) have expressed concerns over their mental well-being and happiness due to the impact of Covid-19.
Similarly, about 70% of Singaporean employees believe that their employers will pay more attention to their staff’s well-being.
Of these, 62% of those between the ages of 24 and 39, as well as professionals married with children (71%) expressed the greatest concern over their mental well-being. These two groups also possess the strongest view that their employers will focus more on workforce well-being.
“The last six months have been one of the most disruptive periods for companies and their employees but by and large, Singaporeans have risen to the challenge and adapted to new ways of working. Now that they have had the experience of a different way to work, many employees are expecting more flexibility in working from wherever they will be most productive and which best suits their work-life needs,” says Dean Tong, head of group human resources at UOB.
Mary Tan, UOB’s business director of personal financial services noted, “As most of our teams shifted to remote working during the pandemic, many of us had to adapt to various changes such as the way we collaborate and connect with one another, in addition to managing the stress that may arise from these changes.”
As at 1.15pm, shares in UOB are trading 9 cents lower, or 0.5% down, at $19.61.
