SUBSCRIBE: Newsletter

Human Resources

Toggle

Article

Tech sector employee attrition across Singapore is going up, employees are walking out the door

High employee attrition at Singapore’s tech firms may lead to 4.4% pay hikes



Uncover and learn about complex HR innovation tools and strategies at Accelerate HR from Thailand's largest employers including Agoda, DKSH, Fonterra, FWD, Kasikornbank, Minor Food, Nissan Motor and more.
Happening in Bangkok on 26-27 November, group discounts when you bring your team.

With voluntary employee turnover on the rise, technology sector companies in Singapore, and Asia Pacific, anticipate loosening their purse strings for 2017 salary budgets.

Aon Hewitt has released new data on talent and rewards trends for the regional tech sector, via the Radford Trends Report, according to which annualised voluntary turnover rates in all major APAC markets exceeds 10%, outside of Japan and South Korea.

Here are the 12-month voluntary turnover rates across APAC tech sector:
  1. India – 13.6%
  2. Malaysia – 13%
  3. Australia – 12.4%
  4. Singapore – 11.7%
  5. China – 10.8%

At the same time, competition for talent is heating up, as roughly two-thirds of tech firms in all major Asia Pacific markets are currently pursuing normal or aggressive hiring plans— again, India leads this trend, with 13% of companies reporting aggressive hiring plans.

Overall salary increase budgets for technology sector employers in 2017:

Overall salary increase budgets for 2017 - Aon Hewitt's Radford

Photo / 123RF

For the 5th consecutive year, HR Distinction awards will again honour the very best in the HR industry. Winning is both an affirmation of the exceptional quality of your work in the industry and among peers. Book your gala dinner table now
Contact us now for more details.

Read More News

Trending

Leave a Reply

You must be logged in to post a comment.