Workers in Singapore are not having it all together, according to a new research by Willis Towers Watson. Its 2017 Benefits Trends Survey found that almost half, or 44% of local employers identified stress as the number one health issue and as much as 60% admitted to having above average or high levels of work related stress.
Despite all the findings, only 27% of employers are taking action to help their staff reduce work related stress. Apart from work related stress, findings worldwide showed that financial insecurity can also contribute to stress.
The findings also showed that 27% of employees in Singapore are living paycheck to paycheck, while worldwide, half of employees are worried about their financial status, a rise of 4% from two years. What’s devastating is that 3 in 10 employees globally expect to work till age 70 or beyond, while in Singapore, the figure is 15%.
The survey also showed a discrepancy between what the employers and employees think. About 53% of employers said their health care initiatives have encouraged their staff to live healthier lifestyles, though only 34% of employees agreed with that statement.
Although there is an increasing number of employers putting in more efforts in improving their health and well-being programs, 40% of them revealed that they do not have an established health and well-being strategy.
Worldwide, more than 70% of employees said health management is top priority, while more than 80% of employers said increasing employee engagement in health and well-being is a top priority for them.
In another 2019 Cigna 360 Well-Being Survey, more than 90% of Singaporean workers surveyed (502 residents) reported feeling stressed, a figure that’s much higher than the worldwide average of 84%.
Out of this number, 13% said their stress is unmanageable. Also, 55% of Singaporean respondents noticed their colleagues’ stress and 90% of them agreed that stress has a serious impact on the workplace and can lowered morale or lead to resignation.
Another survey from Qualtrics (6,000 full-time workers worldwide were surveyed, including a significant number in Singapore) finds that stress levels among employees in Singapore who are 55 and older are the highest (29%), followed by those between 35-44 years, as these are the ages where they enter more senior positions and take on more responsibilities.
If you’re feeling stressed at work, just know that you’re not alone. Find someone to talk to, or call these counselling hotlines.