Seven organisations were named the Best Employers Singapore 2018 by London-based global professional services firm, Aon plc.
According to Aon’s Best Employers study, these organisations lead the way with a 20-point higher employee engagement score than the market average. They achieved an engagement score of 81 percent, compared to a market average of 61 percent. Highly-engaged workforce directly affects the business bottom line, found the study. Aon’s research said that a 5 percent increase in employee engagement is linked to a 3 percent increase in revenue growth in the subsequent year.
Besides employee engagement, the study also measures employer brand, effective leadership, and high-performance culture.
Amidst uncertain business environment where more than 4 in 5 (87 percent) companies in Singapore are undergoing digital transformation, Best Employers inspire their employees with a compelling vision. 83 percent employees in Aon’s Best Employers organisations agree that their senior leadership provide them a clear direction to prepare for the future of work. This number is 22 points higher than the market average.
The organisations named as Best Employers are also found to have total rewards strategy that focuses not only on financial compensation but also learning and career development opportunities as well. As much as 76 percent employees in Best Employers feel that they receive appropriate recognition for their contributions at the workplace, 21 points higher than market average.
The Aon Best Employers in Singapore for 2018 are:
Organisations for Best Employer Category
Five organisations also received special recognition:
DBS Bank was also recognised as Regional Best Employer 2018 for Asia Pacific, after being named Aon Best Employer in India earlier.
Vikas Verma, Director, Talent, Rewards and Performance, Aon Singapore, said, “As the business environment gets challenging and the talent more discerning, organisations in Singapore must shift gears from providing career progression to career experiences. While what this means to each company is different, Best Employers have done well to identify their top engagement drivers and create a fit-for-purpose employee experience that maximises potential.”
Na Boon Chong, Managing Director and Partner, Talent, Rewards and Performance, Aon Singapore, added, “To thrive in this age of disruption, Best Employer organisations nurture an agile workforce that quickly moves from old jobs to new ones as they are created. An agile workforce must be supported by agile HR that delivers services based on reduced time-to-market, increased collaboration, regular reflection, and course correction based on evidence collected continuously during the entire employee lifecycle. Best Employers know that today’s best practices may not be tomorrow’s, and are always looking to ensure their HR remains relevant and responsive to the changing culture and work-styles of their organisations.”