Nearly two in five employees in Singapore are willing to forgo pay increases to be able to work flexibly, slightly higher than the Asia (37%) and the global average (34%).
The four methods that can combat labour shortage problems are: working in partnership; building for employability; delivering on total wellbeing, and understanding the talent drivers.
Recent trends have helped to exacerbate the shortage of workers available to many businesses, putting a spotlight on the importance of well-constructed compensation and benefits packages.
One study suggests business leaders must focus on increasing public-private collaborative training efforts and embrace competency-based hiring and promotion models based on skills rather than degrees.
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