The new shape of work is here to stay. Act now and ensure that your employees’ needs and aspirations are taken into account. When we galvanize the emotional spirit and bring fresh energy, we help to transition our people and business from survive to thrive. Never before has this been more important. Let’s plan for better times ahead, and build resilient people to drive success in the new norm.
The digital revolution has vastly improved our experience as consumers. But in many businesses, this effect does not always extend to better experiences for employees.
Our recent survey measured how many employees are happy in their jobs:
of Singapore employees
of global average
are likely to leave their job within the next two years
The need to meet employees’ expectations is therefore a pressing one. So how can your business reimagine the experience?
Start by understanding your employee experience (EX) maturity baseline and finding opportunities to deliver what your people truly want out of work.
COVID-19 has forced employers in Singapore to embrace increased flexibility to help employees remain resilient in the face of closures of offices, schools and other social support systems.
The snap poll survey taken at our New Ways of Working webinar showed that 77% of participating businesses were acting on flexible working. Additional benefits to retaining and developing flexible working principles include sustained engagement, an enhanced employee value proposition and increased access to expanded talent pools.
All jobs can flex in some way, and it is critical that flexible working strategies are inclusive to all employees. Determining the right strategy involves addressing three critical questions within the organization: What’s possible, what’s desirable and what’s sustainable?
Once these questions are addressed, a thoughtful, well-designed strategy can emerge, ensuring inclusive flexibility and delivering long-term value and competitive advantage for the business.
Employee health and well-being is the top concern for business and HR leaders, according to Mercer research. In the world of employee experience, well-being is about creating a culture of caring to ensure employees thrive.
While Singapore is fourth in the world when it comes to driving a digital employee experience, the ongoing challenge is to engage managers in supporting remote employees’ health and well-being outside workplace walls.
A remote-first workforce has different demands. This means businesses must consider new ways to identify needs, deliver solutions and build a culture of health built upon the four pillars of well-being:
Physical well-being: Access to the things that help employees preserve and protect their health — seeing a doctor, eating healthy food and exercising, staying safe — often looks different for remote workers.
Emotional well-being: Access to high-quality care is in high demand. Proactively address emotional stress and foster employees’ sense of purpose.
Financial well-being: Employees’ financial literacy and security needs continue — for example, through budgeting, refinancing options or tuition reimbursement.
Social connectivity: Accounting for the new dynamics of caregiving, social connection, community resources, volunteering and leave policies is vital.
Employees are particularly sensitive to changes in benefit levels, with many expecting employers to provide access to cutting-edge, best-in-market healthcare. Employers need to take quick action to modernize their benefits and optimize plan value to ensure they offer cost-effective plans that protect employee health.
Employers can balance economics and empathy. Develop a cost-containment strategy, and make the necessary decisions to ensure the financial sustainability of your health and well-being plans. Get started with multipronged and multiyear strategies that address these three points simultaneously. We can help you to develop cost-effective benefits programs that truly benefit employees.
Mercer helps clients adapt and thrive through change every day. At times of uncertainty, we remain a trusted advisor and we are here to support you. Contact us below: