On 21 April 2020, Boustead was named one of Singapore’s top 150 employers.
As one of the most enduring brands on the Singapore business landscape, Boustead has seen its fair share of awards and accolades over its 192-year trading history.
However, at a time of great uncertainty and challenge, Deputy Group CEO Yu Loon Wong said, “being recognised as one of Singapore’s best employers means a great deal – especially in today’s environment.”
Global market research firm Statista, in conjunction with The Straits Times, distributed the results of the inaugural award program, which placed Boustead second in its category and 38th overall, amidst a field of 150 finalists.
The extensive survey, conducted online across August and September last year, saw more than 8,000 employees and 160,000 evaluations undertaken – in 25 industries for corporations employing at least 200 people.
For Singapore, this equates to a potential field of approximately 1,800 corporations - including Forbes Fortune 500 corporations, large multinationals, and homegrown entities.
Respondents were asked to rate their willingness to recommend their employer to friends and/or family and were further questioned as to whether there were any other employers (in their respective industries) that they would – or would not – recommend.
The results were used to calculate a score for each corporation, with greater weight being given to the direct score respondents assigned to their own employer.
While news of the award win has been welcomed by Boustead’s leadership team, for many of the company’s long serving employees, such as Senior Vice President - Group Human Resources Karen Kor, the rating has come as little surprise.
Across the Group – including its international operations – Boustead has enjoyed some remarkable results when it comes to retaining talented team members. Company records show, within its 958^ employees, Boustead has 155 that have served more than 10 years or about 16% of the total team – and of these, more than one fifth have been with the group for greater than 20 years.
These statistics are encouraging when compared to international figures* that place the average length of employee tenure between 3.5 and 4.5 years.
In a more recent survey of Boustead Group employees – conducted by the company’s brand communications team – participant responses pointed to a shared appreciation of Boustead’s longstanding leadership and company values as key drivers of loyalty.
When asked why she thought Boustead reached such a high ranking, Ms Kor said, “we know that becoming a Best Employer is a journey in an organisation's development that does not happen overnight. To be ranked in such a credible position has demonstrated that our efforts have been appreciated”.
^ As at the end of FY2019
* Multiple sources - including US Bureau of Labor Statistics
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