High Expectations for Employers Across APAC Revealed
According to the Compass Index by Compass Offices, where 1,200 respondents across seven countries in APAC were surveyed, expectations that employees at a mix of startups, SMEs and multinationals had for their employers are on a high — particularly in Hong Kong, Singapore, Australia and the Philippines.
“A healthy company is one that understands that success is based on the happiness of its employees, so managing employee expectation becomes that much more important. Like a startup trying to understand their customers and fine tune its product, leaders also need to deep dive into learning about employee expectations,” said Andrew Chung, CEO of Compass Offices.
Most of the surveyed APAC employees suggest that work environment and career development are important elements of their jobs. Of the surveyed in Hong Kong and Australia, which was a mixture of C-suites, founders and managers, ‘Work Environment’ was deemed by 52% and 53.8% respectively, as the most important element of their job. Coming close at 41% and 40.51% would be the possibility for ‘Career Development’ in their workplace.
In the Philippines, 44.74% respondents rated ‘work environment’ and career development as their most important elements. Whilst, respondents in Singapore reported feeling slightly different from the previous three markets, although directors and managers, 58.39% also cited ‘Work Environment’ as the most important. Coming in second at 40.88 % for Singapore-based workers was how attractive they found their ‘Remuneration Package’ and ‘Career Development’.
According to a 2015 Microsoft study, there is a gap between the expectations of employees and what employers are offering their workers in APAC when it comes to creating a work environment that is “productive, collaborative and innovative in a mobile-first cloud-first world.” 74% of surveyed employees are interested in working remotely, although only 31% are at companies that employ formal work policies to support this growing need.
In terms of promotion expectations, this ECA International Salary Trends survey indicates that while Australian workers can expect to get 3.5% in uplifts this year, real wage increases for workers in Hong Kong and Singapore were projected to be lower this year – after being adjusted for inflation. Workers in the Philippines fared only slightly better than those in Hong Kong and Singapore in terms of its rankings for nominal salary increases in 2016.
Despite these realities, the Compass Index reflects great optimism in surveyed workers when it comes to their expectations for increased compensation. Workers in the Philippines (63.1%) leading with assurance compared to Hong Kong (41.6%), Singapore (19.80%) and Australia (39.68%) when asked if they were expecting a pay raise this year.
When it comes to an ideal workspace, 32.9% of respondents in the Philippines suggest that easy access to food or lunch is priority compared to their peers in 57.26% Hong Kong, 58.27% Singapore and 50.63% Australia that rated near public transportation as their number one option.
“It is important to note that while a fair compensation is necessary to motivate employees, creating a robust work environment and the belief that upward mobility in the workplace is within reach also play important roles,” Chung added.