54% of Singaporean Workers Willing to Accept Lower Pay for Family or Personal Life: IPS Survey

According to an Institute of Policy Studies (IPS) survey on the future of work, over half of the respondents—54%—expressed willingness to accept lower pay or a less demanding work role to benefit their family or personal life.

The survey, titled “Future of Work Singaporeans Want,” was conducted in October 2022 to evaluate Singapore’s workforce readiness, aspirations, and perceptions of social mobility in light of technological advancements and disruptions in the labor landscape.

Survey Methodology
The IPS survey gathered responses from 1,010 economically active adults aged 21 to 84 across various locations in Singapore, assessing what Singaporean workers value most in their jobs and how they prioritize different aspects of work.

What Do Singaporean Workers Value?
Across all age groups, the top three priorities for Singaporean workers are pay adequacy, workplace ethics, and comfortable working conditions. In contrast, receiving recognition, career advancement, and task variety were ranked lower in importance.

While workplace diversity was not highly prioritized, Singaporeans agree that inclusivity for persons with mental health conditions and disabilities is essential.

Willingness to Make Career Sacrifices
When asked if they would accept a lower salary or minor work role for family or personal reasons, 21% said they would not. However, 63% of respondents aged 55 and above expressed the most willingness to take a pay cut for personal reasons. Many older respondents had already done so and would consider it again.

Interestingly, 32% of younger workers (21 to 34) who hadn’t yet made such a sacrifice said they might be willing to in the future, though they wouldn’t compromise on pay for a meaningful job. This willingness increases with age—59% of older respondents are more open to such trade-offs for work that contributes to a larger cause.

Finding Meaning in Work
The survey revealed that professionals, managers, executives, and technicians (PMETs) are more likely to find meaning and purpose in their work, with 64% agreeing their careers are meaningful, compared to 42% of clerical and service workers.

IPS Senior Research Fellow Laurel Teo noted that finding meaning in work is crucial for career fulfillment and motivation.

Gender Gaps in Developing Core Skills
The survey also highlighted disparities in how women perceive their critical skills, such as creative problem-solving. Only 66% of women felt confident in their ability to solve problems creatively, compared to 79% of men. Additionally, fewer women (37%) ensured they received credit for their work than men (42%).

Conclusion
The IPS survey shows that Singaporeans are aware of the shifting labor landscape and are open to reskilling or pivoting careers. However, the lack of meaning found in work by non-PMETs could affect their motivation and fulfillment in the future.