Over half Singaporeans willing to accept pay cut or demotion to stay employed

Over half Singaporeans willing to accept pay cut or demotion to stay employed
PHOTO: The Straits Times

Are Singaporeans afraid of 'losing face' if they lose their jobs?

The results of a recent survey seemed to suggest this, especially with mature workers.

Worried about the prevailing economic uncertainty, more than half of Singaporeans said they were willing to accept a pay cut or even a demotion to stay employed.

The study revealed a significant 61 per cent of Singaporeans were ready to make such adjustments compared to the global average of 43 per cent.

The Randstad's latest Workmonitor Research for the second quarter of this year also showed that more senior workers in their mid-30s and above (6 in 10) were willing to do that compared to their younger counterparts (5 in 10).

THE 'FACE' FACTOR

Its research, which also analysed Malaysia and Hong Kong, showed their residents were a little less worried than Singaporeans.

Although fewer than 5 in 10 of Malaysians and Hong Kong residents were prepared to make such sacrifices, their figures were still higher than the global average.

Overall, older workers in Singapore, Hong Kong and Malaysia were more willing to accept a decrease or demotion than younger employees to stay in the job.

But the global trend showed the reverse, with younger employees being more receptive than senior employees to the idea of getting a smaller pay check.

Mr Michael Smith, the managing director for Randstad Singapore, Hong Kong and Malaysia, said in a press statement: "It's interesting to note the higher willingness of employees in Singapore, Hong Kong and Malaysia than that of the global average to take a demotion or salary decrease.

"We expect this falls down to a mix of the recent global economic sluggishness and the fear of staying unemployed, coupled with traditional mindsets where losing a job would result in 'losing face'."

chenj@sph.com.sg

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