• Follow Us On : 

Singapore Businesses Avoid Massive Layoffs, Move Toward Cautious Hiring: Aon Pulse Survey

Redaksi | Rabu,22 Juli 2020 - 05:14:10 WIB
Dibaca: 151 kali 
Singapore Businesses Avoid Massive Layoffs, Move Toward Cautious Hiring: Aon Pulse Survey
  • 18% of businesses report a hiring freeze compared to 30% in April
  • Three fourths of Singapore companies have refrained from layoffs

SINGAPORE - Media OutReach - 21 July 2020 - Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, has released the results of a new pulse survey that explores how companies in Singapore are planning for changes in the rewards and talent landscape in a COVID-19 world.

Aon conducted the survey, "Setting the Stage for the Future of Rewards and Work," from June 9 to June 15, 2020. This follows a previous study that was conducted from April 28 to May 1, 2020.

"Our latest survey results show a stabilization in businesses in Singapore. While layoffs are slightly on the rise, more businesses are moving to cautious hiring practices while adjustments to rewards have averted widespread downsizing efforts," says Alexander Krasavin, partner, Radford, and regional commercial head, APAC & MEA at Aon.

"We hear from clients that they are looking beyond the immediate economic impact of COVID-19 and planning for longer-term structural changes to operations and workforce strategies. They are seeing opportunity within a very difficult situation."

Employees in high-risk environments may lose their "hazard pay"
As businesses in Singapore deal with the economic impact of the pandemic, many are changing their rewards programmes, most often by postponing salary increases. Between Aon's May and June pulse surveys, businesses delaying salary increases for all employees grew from 24% to 29%.

As more businesses reopen, they are also pulling back on special "hazard pay." Survey participants that reported paying hazard pay to employees in a higher risk environment in May was 12%. By the June pulse survey, only 9% of participants said they have stopped providing this allowance.

Most companies report "zero downsizing efforts"
As companies take steps to contain costs through modifications to rewards, most participants continue to report "zero downsizing efforts." Approximately three-fourths of Singapore businesses surveyed said they have refrained from layoffs for now. However, the percentage of participants that confirmed layoffs rose slightly to 15% in the June survey from 13% in May and only 4% in April.  

In addition, more Singapore businesses are moving toward cautious hiring from a complete hiring freeze. The percentage of surveyed businesses that reported a hiring freeze fell almost by half, from 30% in April to 18% in June. Those in a cautious hiring state rose from 46% to 60% during the same period.

Singapore companies view current situation as opportunity, not obstacle
When asked how the experience of responding to COVID-19 might change future workforce strategies, 56% of companies in Singapore expect their digital transformation agendas to accelerate and 89% are planning for different working models, such as an increase in permanently remote employees and more flexible working hours. In fact, 75% of participants said that they are offering flexible working hours to employees with young children − an increase from 67% in April and May.

About the Survey
This is the fourth edition of Aon's COVID-19 pulse surveys. A total of 1,940 companies around the world responded, with 417 respondents from Singapore. Survey results are available here and are complimentary for all participants.

About Aon
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.

Akses Wahanariau.com Via Mobile m.Wahanariau.com
Untuk Berbagi Berita / Informasi / Peristiwa
Silahkan SMS ke nomor HP : 085271472010
atau email ke alamat : [email protected]
Harap camtumkan detail data diri Anda
Pengutipan Berita dan Foto, Cantumkan Wahanariau.com Sebagai Sumber Tanpa Penyingkatan
Jumat,29 Maret 2019

One Faber Group Celebrates 45 Years of Scenic Views with Singapore Cable Car by Rolling Out a Year-Long Calendar of Activities From 30 March

SINGAPORE - 30 March 2019 - One Faber Group marked the 45th anniversary of the Singapore C

Sabtu,23 Februari 2019

Madame Tussauds Singapore Presents First & Only Figure of Tollywood Superstar Mahesh Babu

SINGAPORE - 22 February, 2019 - Collaborating with Madame Tussauds Singapore, Tollywo

Senin,20 Agustus 2018

Local Start-up Launches Singapore’s First Office in a Pocket Solution

Local Singapore start-up aims to make coworking easier with an office in your pocket solution SINGAP

Rabu,29 Mei 2019

Argus Global a Singapore Based Regulatory Compliance Consulting Firm Sets its Sights on Creating a Regional Presence

2 acquisitions fully integrated to offer multi-disciplinary and comprehensive business services in S

Selasa,17 Desember 2019

Philippines Urban Living Solutions Inc's MyTown Co-living Honored at the International Innovation Awards 2019 in Singapore

SINGAPORE - Media OutReach - 17 December 2019 - Enterprise Asia announced the winners of the Interna

Sabtu,01 Desember 2018

Now Open: Fashion Lingerie Label 6IXTY8IGHT Opens Its Second & Largest Store in Singapore At Bugis Junction

SINGAPORE - Media OutReach - November 30, 2018 - International fashion lingerie

Senin,10 Agustus 2020

BPNB Sumbar Gelar Lomba Kesejarahan dari Rumah

PADANG - Balai Pelestarian Nilai Budaya Provinsi Sumatera Barat (BPNB Sumbar) di bawah naungan Direk

Selasa,28 Juli 2020

Amazon Singapore and National Volunteer & Philanthropy Centre Launch Wishlist Initiative to Deliver Smiles and Support Communities in Need this National Day

Amazon invites the public to support local charities Blessings in a Bag, Children’s Wishing We

Selasa,28 Juli 2020

Poly Leads Industry with the Most Microsoft Teams Certified Headsets Available

The choice is now yours - Poly offers 2X more Microsoft Teams certified headsets and personal speake