SINGAPORE: Eight in 10 business leaders in the country believe uncertain economic conditions will threaten flexible-work options for workers, the latest LinkedIn Global Talent Trends found.
The report reveals data insights from both the social media platform’s Economic Graph and community members to understand better labour market trends and how they affect candidates, employees and workplaces.
It found that 51% of executives in Singapore prefer employees to work in the office, posing a risk for workers to lose flexi-work arrangements.
About 77% of the respondents felt that hybrid work arrangements are here to stay for the long term. They are also aware that putting the brakes on hybrid work arrangements could push talent away and impact business performance in a negative manner.
The survey found that improving employee retention rates is a top priority for Singapore business leaders. However, seven in 10 said it’s challenging to attract top talents in the current economic landscape.
“Motivated employees are key to gaining a competitive advantage, and damaging that is a risk business can’t afford to take, particularly at a time when people are already being weighed down by other worries such as the higher cost of living,” LinkedIn Asia-Pacific managing director Feon Ang said.