The impact of age and compensation on employee turnover in Singapore : a macro study.

Abstract

The tight labour force and consequent high employee turnover rates among workers has been a persistent problem for many companies in Singapore. This study examines the turnover problems at a macro level for many industrial sectors and occupational groups in Singapore. Even as previous studies have reported that age and compensation are significant influencing factors of employee turnover, this study will investigate the impact of these two factors on employee turnover in Singapore. This study shows that age and compensation are negatively correlated to employee turnover in both the overall industrial and occupational group. Compensation is found to have a significant impact on employee turnover in the overall industrial sector and occupational group, whereas that of age is found to be insignificant. However, different results are found across various industrial sectors and occupational groups.