Budget Direct Insurance moves to counter dropping job satisfaction

Report reveals Singaporean companies are not keeping their employees happy

Budget Direct Insurance moves to counter dropping job satisfaction

Insurance News

By Gabriel Olano

Singaporean companies tend to score poorly in terms of job satisfaction, but motor insurer Budget Direct is trying to buck that trend.

According to Singapore Employee Engagement Index survey report by international consultancy firm Mercer earlier this year, only 73% of Singaporeans were satisfied with their companies, below the global average of 82%. It also revealed that there is a consistent decline in employee engagement in the country.

To counter this trend, Budget Direct Insurance has taken several steps to help employees feel more involved in the company.

On their first day of work, each employee is driven in a chauffeured car from their home to the office. According to Simon Birch, CEO of Budget Direct Insurance, it is important to get employees off to a good start and make a good first impression.

Employees are also regularly asked to provide input on areas traditionally outside their job descriptions. In one case, a claims executive was rewarded for coming up with a new marketing idea.

The company implements an open-plan office with no hierarchy of space, a casual dress code, and regular office get-togethers over food and drinks.

It also promotes pro-family policies by giving up to six months’ maternity leave, and allowing parents to work part-time, from home, or on flexible hours at the office.

In order to make its employees more engaged, the insurer decided to highlight its work ethos: Be nice, be open, be good, and look out for each other.

Birch added: “It also means encouraging a 'no blame' culture. We want our team to feel trusted and empowered, but this is meaningless if people are worried about doing something wrong. We want people to take on bigger roles than they thought possible and set them up to succeed, not fail.”

Related stories:
Singapore’s insurers can help improve workplace safety
Insurers give suggestions to assist Singapore’s aging workforce
Insurance still on gender diversity journey

Keep up with the latest news and events

Join our mailing list, it’s free!