Recent study on global thought leadership revealed that majority of Singaporean employers find it difficult to balance the expectations of their employees, customers, and the wider society. With two in three (68 percent) executives in the country have lost talent due to the lack of creative and collaborative opportunities, Singapore’s percentage is higher than the global average of 66 percent.
According to the survey commissioned by Fujitsu, business leaders in Singapore feel the most duty to improve the lives of their employees (68 percent), followed by their customers (66 percent) and their wider society (30 percent) which reflects a similar trend to other regions.
In a statement, Fujitsu Singapore president Wong Heng Chew said, “People have always been vital to business. The survey findings show that over the last few years, businesses have shifted their focus – where once success felt very much hinged to the customer, it is increasingly clear that employees and citizens within society play a big role as well.”
More than three in four employers (78 percent) believed that finding a way to deliver to all their audiences will fortify their success in terms of achieving financial growth. Additionally, they also said that it would help build a good reputation (50 percent) and maximise the potential and create new opportunities for employees (40 percent), Singapore Business Review reports.
When asked about what types of employees that companies value as important to their organisation’s access, most respondents said they want their employees to be collaborative and innovative. However, while most Singapore leaders believe that their staff have the access to the tools they need to be creative (82 percent) and collaborative (68 percent), almost half or 48 percent admit they have lost great employees because they felt ‘stifled and frustrated’.
“Challenges cited by business leaders that limit the potential of employees in their organisation were too much focus on day-to-day tasks and too little on employee development (52 percent), limited opportunities for growth and development (34 percent) and limited chances for employees to contribute new ideas (38 percent),” Fujitsu observed in its report.
In order to address this matter, 56 percent Singapore bosses reported establishing manager or leadership development programs, with 50 percent putting mentoring or reverse-mentoring programs in place and 44 percent running skill-based training.