Research commissioned by Robert Half suggests the balance between the professional and personal lives of Singapore’s financial services employees is improving. The company’s data reveals more than two in three (68 per cent) Singaporean CFOs within the financial services industry say the work/life balance of employees in their organisation has improved over the past three years. Almost one in three (29 per cent) say their staff’s level of work-life balance has remained the same over the same time period, and only three per cent say it has decreased.
With more than nine in 10 (91 per cent) CFOs acknowledging the positive impact on performance brought about by work/life balance, financial services employers understand their business stands to benefit from improving the professional and personal balance of their staff.
Matthieu Imbert-Bouchard, managing director of Robert Half Singapore said: “With financial services being a fast-paced environment, obtaining work/life balance is not only highly beneficial for employees as it helps reduce stress and increase job satisfaction, but it also brings advantages to companies that go beyond increased productivity. Organisations who prioritise and actively promote work-life balance initiatives have a competitive edge in the war for talent as they frame themselves as an employer of choice.”
The vast majority (97 per cent) of Singapore’s financial services employers are actively encouraging a positive work/life balance for their staff, with current initiatives including: additional leave/holidays (47 per cent), flexible work hours (41 per cent), company restrictions on use of mobile devices outside of office hours (29 per cent), on-site amenities such as childcare and gyms (27 per cent) and restricting working hours (25 per cent).
“Flexible working arrangements and working from home are great ways for companies to allow their staff to work productively around family and personal commitments. By investing in mobile and agile technologies, as well as embracing advanced communications methods, employers can offer their staff a viable alternative to being in the office,” asserted Imbert-Bouchard.
“To continue to promote proper work-life balance, employers should also discourage the ‘workaholic’ attitude and restrict employee access to the workplace outside of regular office hours. Whilst some overtime may be expected during peak times on the business calendar, financial services workers should not be encouraged to sacrifice their personal and family commitments for the sake of their careers,” he concluded.