Latest news with #DavidBlasco
Straits Times
13-07-2025
- Business
- Straits Times
askST Jobs: Feeling the pinch? Here's what to do if your pay rise is not matching inflation rate
Sign up now: Get ST's newsletters delivered to your inbox When salary increments do not keep pace with rising costs, Singaporeans may find themselves playing catch-up with their purchasing power. In this series, journalist Megan Wee offers practical answers to candid questions on navigating workplace challenges and getting ahead in your career. Get more tips by signing up to The Straits Times' Headstart newsletter . Q: With cost-of-living issues a key concern for many Singaporeans, what can workers whose pay rises do not keep up with the inflation rate do? A: If employees discover that their pay increments are not keeping up with the inflation rate, it would be appropriate for them to discuss the matter with their supervisor or manager in a respectful and transparent manner, says recruitment agency Randstad Singapore's country director, Mr David Blasco. He says annual standard salary increments should minimally match the reported inflation rate for the year to ensure that employees maintain their purchasing power and quality of life, especially as the cost of living rises. Mr Vic Sithasanan, Singapore managing director at employment marketplace Jobstreet by Seek, says that while Singapore's inflation eased to around 2.4 per cent in 2024, many people are still grappling with the lingering effects of sharp cost increases in late 2022 and early 2023. When salary increments do not keep pace, Singaporeans may find themselves playing catch-up with their purchasing power, he adds. So, how can employees check whether their pay is keeping up with inflation? According to Ms Samantha Tan, a human resources business partner at Seek , employees can compare the current salary with what they were earning in the previous year, adjusted for inflation. Top stories Swipe. Select. Stay informed. Singapore Govt will continue to support families, including growing group of seniors: PM Wong at PCF Family Day Singapore From Normal stream to Parliament: 3 Singapore politicians share their journeys World Deal or no deal? EU faces critical decision in response to Trump's latest tariff salvo Singapore Segregated recycling bins found to lower contamination rate as more spring up Sport Two participants injured after another breached safety protocol during Pesta Sukan archery event Asia Mahathir discharged from hospital after feeling fatigued during birthday gathering Singapore Medics treat 7 after blaze at HDB block lift lobby in Chai Chee Singapore I lost my daughter to Kpod addiction: Father of 19-year-old shares heartbreak and lessons They can make use of inflation calculators available online, she adds. Fresh graduates who do not have a salary history can refer to salary benchmarks, such as from Jobstreet's Talent Attraction Lab, to have a better grasp of where their salary expectations should lie, Ms Tan says. When there is a mismatch between the salary increment and the inflation rate, Mr Blasco recommends that employees take these steps: Review whether your pay reflects your job responsibilities and performance against the latest industry salary benchmarks, and gather information from your latest performance review. Explain to your supervisors how your salary has not kept up with inflation and the impact on your real income, and highlight your contributions to the organisation. Approach the conversations with supervisors in a collaborative manner – show that you are there to understand the factors that determine your salary increment. Assess your pay based on factors such as market demand for skills, industry benchmarks, internal pay structure and the company's profitability. Ms Tan encourages employees to look at their full compensation and benefits package, which can include bonuses, performance incentives, flexi benefits, learning opportunities and work-life flexibility. These can contribute to one's holistic well-being and satisfaction, she notes. 'These can at times be incredibly more priceless compared with a small annual increment,' she says, adding that they can help employees better fulfil their professional and personal aspirations. Mr Jason Quay, director of outsourcing at recruitment agency Adecco Singapore, says it is worthwhile for employees to evaluate the monetary value of what is being offered. For example, if the company provides $1,200 in flexible benefits, the real value should be taken into account even if it is not reflected in the base salary. If salary is top of mind, Mr Blasco says employees should assess the talent market supply and demand. This can guide career decisions about whether they should stay in their organisation, or proactively seek employers that are offering a higher pay. Ultimately, he emphasises the importance of navigating the process carefully. 'Continuing to communicate professionally and maintaining positive relationships during this process can also help you to retain a strong reputation and not burn bridges.'
CNA
09-07-2025
- Business
- CNA
CNA938 Rewind - Mind Your Money - Stay or quit? Gen Zs are on the move
A recent survey by CNA's Money Mind suggests a gap between Gen Zs' attitudes toward jobs, savings and retirement, and their actual financial behaviours. The survey polled 3,000 respondents aged between 21 and 28 across six countries. Cheryl Goh gets a breakdown of the data with Sona Remesh, Producer, Money Mind and an analysis of workers behaviours with David Blasco, Country Director, Randstad
Straits Times
01-07-2025
- Business
- Straits Times
Work-life balance most important factor for Gen Z, millennials and Gen X: Randstad survey
SINGAPORE – Getting their work-life balance right is the most highly valued employment factor for workers in Singapore, no matter what the age, noted a new survey. It even surpasses other value propositions such as attractive salary and benefits, with job security, career progression and equity also trailing behind. The annual survey conducted by recruitment agency Randstad polled around 170,000 people in places like Japan, Belgium, India and Greece, including 2,522 in Singapore. It found that just over 50 per cent of employees here rated 'work-life balance' and 'salary and benefits' positively when evaluating their current employers. This indicates clearly that there is room for improvement in these two factors: While both are top priorities for employees, they are 'rated relatively low' when assessing bosses. 'With salary packages and benefits now highly competitive, work-life balance is emerging as a crucial differentiator for both attracting and keeping top talent,' said Randstad Singapore country director David Blasco. Respondents across generations have differing motivators at work. While work-life balance and attractive salary and benefits remain the top two priorities for Gen Z (aged 13 to 28) and millennials (29 to 44), Gen X (45 to 60) place slightly more emphasis on compensation. The survey also found that equity – a desire to work in a fair and inclusive environment – is one of the most important factors for employees, particularly Gen Z. But employers' equity ratings here slipped from 2024, with only 53 per cent agreeing that their particular qualities are appreciated in the workplace, a 4 per cent fall from 2024 . A decline in equity scores also signals lack of fairness and transparency in the workplace in areas such as hiring practices and offering opportunities to deserving employees. Other findings noted that while Gen Z prioritised strong training and development opportunities, Gen X looked for a financially healthy company. Older generations also tend to be more critical of their employers, especially when it comes to their expectations of a 'pleasant work atmosphere'. Mr Blasco said: 'In the rush to meet targets and deadlines, the employee experience is often overlooked. 'It's the small moments, such as being comfortable sharing different viewpoints, having chances to develop new skills or simply enjoying with teammates that truly enhance engagement. 'These moments not only foster a positive atmosphere but also reduce the likelihood of employees jumping ship to search for better workplaces.' Keeping employees motivated and engaged Work-life balance is also the main factor affecting how engaged or disengaged employees feel, the survey noted. The lack of recognition or appreciation for their work was consistently ranked in the top three across all generations as factors that discouraged staff. The report highlighted that Gen Z are the most engaged, with 68 per cent reportedly feeling motivated in 2025, followed by millennials at 61 per cent and Gen X at 58 per cent. On the other hand, wanting higher salaries and better benefits is the leading factor to prompt Gen Z (57 per cent) and millennials (54 per cent) to leave their current jobs. The lack of flexibility is also a factor, with 23 per cent citing it as a reason to make them quit. A separate Randstad survey found that 31 per cent of workers in Singapore would quit if they lacked sufficient flexibility. 'As flexible work options and alternative income sources become commonplace, prioritising work-life balance is what truly sets employers apart from their competitors in the market,' said Mr Blasco. Even though 49 per cent of respondents felt engaged, companies may already be losing the other half of their workforce, given that less engaged staff (18 per cent) are 60 per cent more likely to consider quitting than their engaged counterparts. Impact of artificial intelligence The use of artificial intelligence (AI) in the workplace has steadily increased year on year, with more frequent users among Gen Z and Gen X. Notably, millennials are scaling back on AI at work, with only 36 per cent reporting frequent usage, a slight decline from 2024. The report also noted that Gen Z feel most threatened by the increased use of AI, with 44 per cent saying it 'has a considerable impact on my job'. Another 6 per cent feel they may lose their job because of AI. Mr Blasco noted: 'Singaporeans are increasingly viewing AI as a work companion, considering it a supportive tool rather than a threat to their job security. 'Companies that highlight their AI achievements as part of their employer branding will stand out in attracting tech-savvy and digital-first talent.' Check out the Headstart chatbot for answers to your questions on careers and work trends.
Independent Singapore
27-06-2025
- Business
- Independent Singapore
Work-life balance is still top priority for Singaporeans after 3 years, though Gen X values pay a bit more
Photo: Depositphotos/ Shadow_of_light (for illustration purposes only) SINGAPORE: Work-life balance has remained the most important factor for Singaporean workers when choosing an employer for the third consecutive year, according to the Randstad Employer Brand Research 2025 report. The report surveyed 2,522 Singapore job seekers and employees across various sectors, including healthcare, information and communication technology (ICT), education, engineering, and finance. The survey, conducted by Randstad in partnership with research firm Kantar, was carried out between January and March this year through 14-minute online interviews with individuals aged 18 to 64. According to Malay Mail, citing the survey, Singaporeans across all age groups continue to value work-life balance the most. However, Gen X workers placed slightly more weight on financial compensation. They also place high importance on job security and working for a financially stable company. Still, only around half of the respondents said their current employers are meeting expectations when it comes to providing work-life balance. David Blasco, country director for Randstad Singapore, said work-life balance is likely here to stay for at least the next decade, as 'We will eventually have a job or have different income avenues, which makes work-life balance the true differentiating factor between employers.' Notably, work-life balance is closely tied to employee motivation and engagement, with those experiencing better work-life balance reporting higher job satisfaction and loyalty. On the other hand, poor work-life balance was one of the top reasons people considered leaving their jobs in the past year. Nearly half of all respondents also said they felt disengaged at work, and those who did were 60% more likely to consider leaving their jobs. /TISG Read also: Businesses should address burnout as an organisational problem, expert says Featured image by Depositphotos (for illustration purposes only)
New Paper
26-06-2025
- Business
- New Paper
Work-life balance most valued for Gen Z, millennials and Gen X: Poll
Getting their work-life balance right is the most highly valued employment factor for workers in Singapore, no matter what the age, noted a new survey. It even surpasses other value propositions such as attractive salary and benefits, with job security, career progression and equity also trailing behind. The annual survey conducted by recruitment agency Randstad polled around 170,000 people in places like Japan, Belgium, India and Greece, including 2,522 in Singapore. It found that just over 50 per cent of employees here rated "work-life balance" and "salary and benefits" positively when evaluating their current employers. This indicates clearly that there is room for improvement in these two factors: While both are top priorities for employees, they are "rated relatively low" when assessing bosses. "With salary packages and benefits now highly competitive, work-life balance is emerging as a crucial differentiator for both attracting and keeping top talent," said Randstad Singapore country director David Blasco. Respondents across generations have differing motivators at work. While work-life balance and attractive salary and benefits remain the top two priorities for Gen Z (aged 13 to 28) and millennials (29 to 44), Gen X (45 to 60) place slightly more emphasis on compensation. The survey also found that equity - a desire to work in a fair and inclusive environment - is one of the most important factors for employees, particularly Gen Z. But employers' equity ratings here slipped from 2024, with only 53 per cent agreeing that their particular qualities are appreciated in the workplace, a 4 per cent fall from 2024. A decline in equity scores also signals lack of fairness and transparency in the workplace in areas such as hiring practices and offering opportunities to deserving employees. Other findings noted that while Gen Z prioritised strong training and development opportunities, Gen X looked for a financially healthy company. Older generations also tend to be more critical of their employers, especially when it comes to their expectations of a "pleasant work atmosphere". Mr Blasco said: "In the rush to meet targets and deadlines, the employee experience is often overlooked. "It's the small moments, such as being comfortable sharing different viewpoints, having chances to develop new skills or simply enjoying with teammates that truly enhance engagement. "These moments not only foster a positive atmosphere but also reduce the likelihood of employees jumping ship to search for better workplaces." Keeping employees motivated and engaged Work-life balance is also the main factor affecting how engaged or disengaged employees feel, the survey noted. The lack of recognition or appreciation for their work was consistently ranked in the top three across all generations as factors that discouraged staff. The report highlighted that Gen Z are the most engaged, with 68 per cent reportedly feeling motivated in 2025, followed by millennials at 61 per cent and Gen X at 58 per cent. On the other hand, wanting higher salaries and better benefits is the leading factor to prompt Gen Z (57 per cent) and millennials (54 per cent) to leave their current jobs. The lack of flexibility is also a factor, with 23 per cent citing it as a reason to make them quit. A separate Randstad survey found that 31 per cent of workers in Singapore would quit if they lacked sufficient flexibility. "As flexible work options and alternative income sources become commonplace, prioritising work-life balance is what truly sets employers apart from their competitors in the market," said Mr Blasco. Even though 49 per cent of respondents felt engaged, companies may already be losing the other half of their workforce, given that less engaged staff (18 per cent) are 60 per cent more likely to consider quitting than their engaged counterparts. Impact of artificial intelligence The use of artificial intelligence (AI) in the workplace has steadily increased year on year, with more frequent users among Gen Z and Gen X. Notably, millennials are scaling back on AI at work, with only 36 per cent reporting frequent usage, a slight decline from 2024. The report also noted that Gen Z feel most threatened by the increased use of AI, with 44 per cent saying it "has a considerable impact on my job". Another 6 per cent feel they may lose their job because of AI. Mr Blasco noted: "Singaporeans are increasingly viewing AI as a work companion, considering it a supportive tool rather than a threat to their job security. "Companies that highlight their AI achievements as part of their employer branding will stand out in attracting tech-savvy and digital-first talent."
