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SINGAPORE: Four out of 10 Gen Y employees, or those aged between 18 and 34, will start looking for another job if their request for a pay rise is turned down, a survey showed.
A survey of 500 Singapore employees, conducted by specialist recruitment firm Robert Half, showed how each generation will respond to this rejection.
Nearly four in 10 (37 per cent) respondents aged between 18 and 34 said they would walk away if they do not get the boost in pay they want. In contrast, the most common (32 per cent) response of Gen X, or those aged between 35 and 55, was to wait for the next performance review and to ask for a pay rise again.
Baby boomers – those aged over 55 years of age - also preferred to wait, with 42 per cent saying they will ask again at the time of their next performance review. Only six per cent of Gen Y employees said they would take no action, compared to eight per cent of Gen X employees and 10 per cent of baby boomers.
Only four per cent of the workers said they would respond by complaining about their boss’s decision to colleagues, friends or their spouse.
Ms Stella Tang, Managing Director of Robert Half Singapore, said the survey shows the different priorities of each generation.
“Generation Y is ambitious and wants to keep their careers moving forward. This means getting better remuneration as their responsibilities increase. Generation Y knows they have time on their side and can look for employment elsewhere if they feel their talents are not being recognised,” she said.
“Generation X has the most options available to them when a pay rise is refused. They are likely to be more senior and can command either additional perks or a transfer to another higher paying role within the company. They are also able to take their experience to another employer if they feel they are undervalued.”
Baby boomers are the least likely to jump ship because many will be thinking about retirement or moving onto a mentoring role within the company, Ms Tang said.
Total 18-34 35-55 Above 55
Wait for next performance review to ask again for a salary increase 35% 31% 32% 41%
Look for a new job 29% 37% 28% 23%
Ask for something else (like more perks, training options, different role at current firm that pays more etc.) 22% 21% 26% 18%
Complain to someone other than my boss (co-worker, friend, spouse etc.) 4% 4% 4% 5%
Other 3% 1% 3% 4%
Do nothing 8% 6% 8% 10%
http://www.channelnewsasia.com/news/singapore/4-in-10-gen-y-workers/2367554.html
A survey of 500 Singapore employees, conducted by specialist recruitment firm Robert Half, showed how each generation will respond to this rejection.
Nearly four in 10 (37 per cent) respondents aged between 18 and 34 said they would walk away if they do not get the boost in pay they want. In contrast, the most common (32 per cent) response of Gen X, or those aged between 35 and 55, was to wait for the next performance review and to ask for a pay rise again.
Baby boomers – those aged over 55 years of age - also preferred to wait, with 42 per cent saying they will ask again at the time of their next performance review. Only six per cent of Gen Y employees said they would take no action, compared to eight per cent of Gen X employees and 10 per cent of baby boomers.
Only four per cent of the workers said they would respond by complaining about their boss’s decision to colleagues, friends or their spouse.
Ms Stella Tang, Managing Director of Robert Half Singapore, said the survey shows the different priorities of each generation.
“Generation Y is ambitious and wants to keep their careers moving forward. This means getting better remuneration as their responsibilities increase. Generation Y knows they have time on their side and can look for employment elsewhere if they feel their talents are not being recognised,” she said.
“Generation X has the most options available to them when a pay rise is refused. They are likely to be more senior and can command either additional perks or a transfer to another higher paying role within the company. They are also able to take their experience to another employer if they feel they are undervalued.”
Baby boomers are the least likely to jump ship because many will be thinking about retirement or moving onto a mentoring role within the company, Ms Tang said.
Total 18-34 35-55 Above 55
Wait for next performance review to ask again for a salary increase 35% 31% 32% 41%
Look for a new job 29% 37% 28% 23%
Ask for something else (like more perks, training options, different role at current firm that pays more etc.) 22% 21% 26% 18%
Complain to someone other than my boss (co-worker, friend, spouse etc.) 4% 4% 4% 5%
Other 3% 1% 3% 4%
Do nothing 8% 6% 8% 10%
http://www.channelnewsasia.com/news/singapore/4-in-10-gen-y-workers/2367554.html
