On 18 April 2023, Boustead Singapore Limited was named one of Singapore's top employers for the third time.

As one of the most enduring brands on the Singapore business landscape, Boustead has seen its fair share of awards and accolades over its 195-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, announced the results of the award which placed Boustead fifth in its category and 155th overall, amidst a field of 250 finalists.

The extensive survey saw more than 17,000 employees and over 200,000 evaluations undertaken – in 27 industries for corporations employing at least 200 people.

For Singapore, this equates to a potential field of approximately 1,700 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 also prompted to evaluate other employers in their respective industries that stood out either positively or negatively.

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, 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 1,165^ employees, Boustead has 149 that have served more than 10 years or about 13% of the total team – and of these, 6% have been with the Group for at least 15 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 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, Senior Vice President of Group Human Resources Ms Phua Yi Shen 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 Dec 2022
* Multiple sources - including US Bureau of Labor Statistics

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