72% of Singaporean employees willing to work even at age 64

And survey showed four out of ten people would prefer a position with more responsibility even without a salary increase.

According to the Q2 2011 Randstad Workmonitor, 72 percent of Singaporean employees would be happier working two years past the official retirement age without any additional financial benefits.

The research surveyed 405 Singaporeans from 2-13 May, as part of a global quarterly survey of 13,565 employees, which tracks employee confidence, mobility, job satisfaction and personal motivation.

Randstad Regional Director, Singapore & Malaysia, Karin Clarke said, “With a widening skills gap in the job market, there are many benefits of retaining mature-age talent in the workforce for longer. This group of employees is more likely to take up courses to enhance their skills to stay relevant in the workplace.”

The survey also showed 66 percent of Singapore employees interviewed said their career now demands more education and training than ever before, while more than a third (35 percent) said they felt their current job was beyond their current abilities.

“There is pressure for both employees and employers to step up. Companies have been aggressively recruiting good talent. It is a competitive environment and employees know upskilling themselves will help them do well in their careers,” Ms Clarke said.

The Randstad Workmonitor indicated a high level of confidence among employees, with 61 percent believing recruitment of good talent had been increasing since the financial crisis and 65 percent believing their companies were in a good position to hire well-qualified staff.

The findings also indicated a 4 percent rise in employee satisfaction to 61 percent among Singapore employees since its last quarterly release. However, 74 percent felt that more people would leave to work abroad in the future.

Ms Clarke said this highlighted the priority for employers to focus on strong talent retention and attraction company strategies.

“Companies need to ensure they have robust employee retention and attraction strategies, employee development initiatives and benefits like paid parental leave, flexible working conditions, reward schemes for high-performing staff, and organisational commitment to being socially responsible,” she said.