By Tan May Ping

HALF of Singapore workers are willing to forgo salary and position for more meaningful work. This, despite the current economic conditions and job uncertainties.

It is roughly the same as the global result which shows that 51 per cent of workers feel that way.

But when broken down by age, it is apparent that older workers here would rank job satisfaction higher than money.

60 per cent of baby boomers (those aged 48 to 65) here said they would do so compared to only 47 per cent of Gen Y (18 to 29) workers.

When compared to Asia-Pacific countries, Singapore fares more poorly.

The findings were part of an online survey by global recruitment company Kelly Services.

Almost 100,000 people in 34 countries, including 3,600 from Singapore, took part in the Kelly Global Workforce Index conducted in December last year. The respondents also included Gen X workers, aged 30 to 47.

The financial cards are stacked against the Gen Y workers especially during this economic slowdown, said Mr Dhirendra Shantilal, Kelly Services' senior vice-president for Asia Pacific.

'Gen Y is the most high-maintenance generation to enter the workforce and they seek immediate payoff and feedback.

'Therefore, those who want to enjoy the good things now will go for higher pay than meaningful work,' he added.

Singapore's baby boomers, in contrast, are generally financially stable, having been the main beneficiaries of Singapore's long economic boom from the 1970s right through the 1990s.

Singapore baby boomers ranked higher than their Asia-Pacific counterparts (52 per cent). However, Gen Y respondents here ranked below their Asia-Pacific counterparts (55 per cent).

Mr Shantilal said that the purpose of the survey was to measure and reflect the value of work in building pride and self-confidence for individuals.

The findings also showed that 84 per cent of Singapore workers said that the work they perform gives them a sense of pride, while 78 per cent said it raises their self-confidence.

Said Mr Shantilal: 'This survey once again affirms that pay is not the only key factor to attract and retain talent, even in tough economic conditions. It demonstrates that we can motivate employees to take pride in their work so that they can contribute positively to their organisations.'

Other key findings:

21 per cent of Gen Y workers say they would not choose the same field of work if starting out again.

68 per cent of Gen X workers plan to look for a new job within the next year.

Mr Shantilal added that these findings also highlight the importance of employers in helping to bring out the best in their workforce by tailoring work that is engaging, stimulating and which encourages people to learn new skills.

However, media consultant C C Soo, in his 60s, said he would not accept lower pay for more meaningful work.

He added: 'In boom times, I expect pay that is commensurate with my responsibilities. But in bad times, my expectations would be lower.'

Mr Soo, who finds his job 'quite meaningful', said there are also other factors which come into play such as the job environment and bosses.

'In times of recession like this, we would think less about how much we can command,' he said.

This article was first published in The New Paper.