Highly stressed Singaporeans show need for better wellbeing support

Highly stressed Singaporeans show need for better wellbeing support | Insurance Business Asia

Highly stressed Singaporeans show need for better wellbeing support

High stress levels among Singaporean adults demonstrate a need for better wellbeing support in the workplace, a report by Cigna said.

The report, titled Stressed in Singapore – Employer Opportunity, found 86% of adults in Singapore are stressed, including 95% of the 18-24 age group and 94% of hybrid workers. It also found that rising cost of living, uncertainty about the future and hybrid work were the most common causes of stress among respondents.

While the hybrid model of work was designed to offer flexibility and work-life balance, it was also linked to higher incidence of stress. The report found that hybrid workers are more likely to feel stressed (94% versus the average of 86%) and work outside normal hours at least once a week (90% versus the average of 74%).

According to Cigna, these work and wellbeing factors are prompting employees to shift careers to meet their lifestyle priorities, a trend known globally as the “Great Resignation”. The insurer found that in Singapore, 35% of respondents changed jobs in the past year and 34% are looking to switch in the next 12 months. Cigna said that Singaporeans are now placing more value in time over salary, with a majority (57%) of respondents saying they are willing to take a lower-paying job if it meant they would have more time for themselves. This was much higher than the Asia-Pacific (49%) and global (43%) averages.

“Singapore remains one of the most expensive cities to live in both regionally and globally,” said Raymond Ng, CEO and country manager, Cigna Singapore. “Recent economic trends have only exacerbated stress levels among adults, especially the younger generation. Employers must recognise that stress impacts the individual, their families, friends and the organisations and colleagues they work with, and offer wellbeing support that better match employees’ expectations, or risk losing productivity and talent.”