Singapore is a cosmopolitan country. It has many lucrative industries, so people have many opportunities to start a career. In Paya Lebar Quarter, commercial leasing has one of the most prospects in regard to high potential real estate developments in Singapore today. Not only can it provide another leisure centre for families, but it may also help resolve a persistent problem in the country: stressed employees.
The State of the Singaporean Workforce
When it comes to workplace conditions, the city-state has achieved a reputation for being one of the most competitive countries in the world. Recent surveys continue to corroborate that.
According to the Benefits Trends Survey in 2017, around 60% of the employees reported feeling high-stress levels. However, only 44% of the businesses consider it as a primary health issue. Worse, less than 27% of them are creating programmes or steps to decrease work-related stress.
Granted, the study highlighted how some firms are being proactive. At least 50% of the workers said their health care plans are enough to meet their needs. However, only 34% agreed that the company programmes are helping them achieve a healthier lifestyle. This is even though 53% of the employers thought otherwise.
The Necessity of a Work-life Balance
A better balance between life and work is essential for any employee, particularly for the burned-out Singaporean. A study has shown how more than 23% of employees would quit their jobs if it was unable to offer a work-life balance.
Meanwhile, a report from Kayak, a travel website, cited how the majority of Singaporeans plan their holidays while at work, especially around lunchtime. It could be because they are seeking a respite from the rigidity of their jobs.
Workplace stress is costly. In the United States, it is responsible for more than $45 billion of health care costs due to high job demands alone. Work-family conflict means an additional spending of $24 billion.
Stress affects different aspects of a person, from physical to mental. Some studies have already revealed how there’s an inverse correlation between long work hours and productivity. In other words, working overtime doesn’t necessarily mean increased output or efficiency.
In Singapore, the reasons for workplace stress can vary. One of the most significant stressors is financial security. Many Singaporeans are still living pay cheque to pay cheque. So much so that their daily routines would be impacted should they not feel financially secure. These include access to relaxation spots or public transport.
Perhaps it’s time for companies to consider their office’s location as another strategy to improve their employees’ well-being. Relocating to a centre that provides access to their needs can already do wonders in reducing workplace stress.