Employees more loyal in APAC than Europe/US
2 min read
East-West dichotomy: employees more loyal in APAC than Europe/US
Employees’ commitment to their employer varies greatly by region, as reported in our recent Global financial wellbeing research. The report surveyed 11.5k+ people from across the world and found that how valued employees feel at work varies significantly from East to West.
In Europe, attitudes appear to be more cynical in relation to loyalty in the workplace.
Taking UK as an example, 66% of employees believe that companies view workers as ‘interchangeable’ and ‘easily replaceable’, followed closely by France (62%), Spain (58%) and Italy (54%).
Motivations for turning up to work reflect this. In the UK, just under half (49%) of employees show up to work exclusively for the pay check, followed by two fifths in Spain (41%) and France (40%).
Our report follows recent predictions of a ‘great reshuffle’ within the UK’s workforce, Fortune reported on data from LinkedIn and Microsoft and found that the trend is continuing this year. 'The two tech giants surveyed 31k individuals across 31 countries and found that the percentage of people (46%) who want to quit their jobs in the year ahead is actually higher than in 2021 (40%).'
Employees in the US have a similar, our report found that 42% of people in the US admit to only showing up to work for the pay check, and half (50%) feel that companies view them as easily replaceable.
Loyalty higher in APAC
Conversely, employees across APAC feel more positive about the relationship between themselves and their employers. In China, less than a quarter (24%) of employees claim they show up to work exclusively for the pay check (almost half compared to the UK), and under a third (30%) feel easily replaceable.
In Japan, where a culture of lifetime employment (also known as shushin-koyo) has prevailed over the years, only a third (33%) say they feel employers view them as easily replaceable (again, half the percentage of UK respondents’ who feel the same).
Despite higher levels of loyalty, financial wellbeing still significantly affects performance across the region. Specifically, 43% of APAC respondents report an impact, compared to 35% in the EMEA region. Furthermore, 49% of APAC respondents indicate that their employers recognize the impact of financial stress on work performance, compared to 37% in EMEA.
Our Global financial wellbeing report suggests that greater awareness of the impact of financial stress in APAC leads to higher levels of commitment to employers. Specifically, 62% of APAC respondents agree that financial education makes them more committed to their employer, compared to 53% in EMEA.
Download the report and find more trends to help you diversify your workplace financial wellbeing support. Open a world of opportunity today.