Latest news with #Robert Walters
Independent Singapore
3 days ago
- Business
- Independent Singapore
Delay in salary hikes lead to higher turnover rates at Singapore companies
Photo:Freepik/jcomp SINGAPORE: Nearly half of employers in Singapore are reporting a rise in employee disengagement and staff turnover after holding back or reducing salary increases this year, according to a new survey by recruitment firm Robert Walters. The findings reveal a link between compensation decisions and workforce morale, with 45% of employers admitting they either postponed or reduced pay rises in 2025. Another 17% did not offer any salary increases at all. Among those companies, nearly two-thirds (64%) noticed signs of employee disengagement, while 29% experienced higher staff turnover, suggesting that pay decisions are having immediate repercussions on workplace stability and employee retention. The survey, which gathered responses from close to 200 professionals and employers across Singapore, highlights the tension between business cost pressures and the expectations of a workforce navigating rising living costs and an uncertain economic climate. When asked why they withheld or adjusted salary increases, employers most commonly cited overall business performance (34%), budget constraints (23%), and broader market uncertainty (23%). From the employee's standpoint, dissatisfaction appears widespread. Of those who did not receive a raise, nearly three-quarters (72%) said they are now actively looking for new job opportunities. Even among those who did get a raise, 58% felt the increase fell short of expectations. An overwhelming 92% of all respondents believe they are underpaid relative to market standards. 'Companies need to weigh the long-term costs of disengagement and turnover,' Kirsty Poltock, Country Manager at Robert Walters Singapore, said, 'Delaying or reducing salary increases might solve an immediate budget problem but could end up costing more in the form of lost talent and decreased productivity.' The report recommends that employers take a more strategic approach to compensation planning, leveraging market data to guide salary discussions and supplementing pay with non-monetary incentives. These could include opportunities for career development, flexible working arrangements, and internal mobility, all of which can help bolster morale and employee loyalty even in tight economic conditions. () => { const trigger = if ('IntersectionObserver' in window && trigger) { const observer = new IntersectionObserver((entries, observer) => { => { if ( { lazyLoader(); // You should define lazyLoader() elsewhere or inline here // Run once } }); }, { rootMargin: '800px', threshold: 0.1 }); } else { // Fallback setTimeout(lazyLoader, 3000); } });
Daily Mail
15-07-2025
- Business
- Daily Mail
Recruiter Robert Walters cuts more jobs as income falls again in face of global economic uncertainty
Robert Walters has cut more jobs after income fell again in the face of increased economic uncertainty globally. Bosses at the recruitment business cautioned that they do not expect to see a 'material improvement in hiring markets in the near term'. Robert Walters said it cut its headcount by a further 2 per cent, or 77 roles, to 3,125 employees by the end of June due to continued weakness in the market. The company has axed 500 jobs across its business over the past year. Robert Walters also reported yesterday that group net fee income fell by 13 per cent in the latest quarter. There was an 8 per cent fall in UK income to £12.1million for the quarter.
The Independent
15-07-2025
- Business
- The Independent
Robert Walters cuts headcount further amid increased uncertainty
Robert Walters has cut further jobs as it revealed another drop in income in the face of increased economic uncertainty globally. Shares in the London-listed recruitment firm dropped in early trading on Tuesday as a result. Bosses at the business also cautioned that they do not expect to see a 'material improvement in hiring markets in the near term'. Robert Walters said it cut its headcount by a further 2%, or 77 roles, to 3,125 employees by the end of June due to continued weakness. The company has axed 500 jobs across its business over the past year. It came as Robert Walters reported that group net fee income fell by 13% in the latest quarter, as it highlighted 'more pronounced' macroeconomic uncertainty in the period after the US launched new tariff policies. This included a particularly sharp fall in mainland Europe, where income fell 22% to £21.5 million. Meanwhile, there was an 8% fall in UK income to £12.1 million for the quarter. Toby Fowlston, chief executive of Robert Walters, said: 'Whilst net fees were higher than in the first quarter, macroeconomic uncertainty was more pronounced in Q2, with forward indicators in specialist recruitment slightly weaker as a result relative to the end of Q1. 'With the external environment continuing to constrain client and candidate confidence, our planning assumption remains that there will be no material improvement in hiring markets in the near term. 'However, we continue to have high conviction in our disciplined entrepreneurialism strategy and therefore took further strategic action during the quarter to drive greater efficiency.'
