(Singapore, 23/11/2022) Due to COVID pandemic, high inflation and uncertainty about the future, a survey finds that many Singaporeans are suffering from stress.
A well-being report released by insurance company Cigna Singapore shows that 86% of Singaporeans are stressed, which is significantly higher compared to the global average. On top of that, 15% of them struggle to cope with stress.
Cigna：Singapore’s stress levels are above the global average
Besides, the survey shows that although flexible work arrangement is desirable to employees in Singapore, but those currently working in the hybrid model are most likely to feel stressed (94% vs average 86%). Virtual overload or fatigue is a widely reported consequence of the flexible work evolution.
The top stressors in the country are the rising cost of living (50%), uncertainty about the future (38%), personal finance (35%) and family finance (22%).
In addition, the survey also included an index that tracks the evolution of well-being in five aspects: work, family, social, physical and financial.
Worryingly, Singapore is worse off across all dimensions, compared to APAC and global averages. It has the lowest score for financial well-being, with only 20 percent of respondents confident about their current financial situation or ability to finance their own/family’s medical needs.
The current economic environment have not only led to higher level of stress, but also prompted
people to look at realigning their priorities to maintain their well-being.
35 percent of respondents changed their jobs in the past year and another 34 percent are looking for a job change in the next year, while 57 percent are happy to take a less well-paid job in order to have more time for themselves.
This perception also extends to longer-term planning, with more than 54 percent of respondents, saying they are happy to retire earlier than planned to spend more time enjoying life, even if the result means having less money when they retire.