In turn, companies can retain and attract employees, allowing them to tap on a wider pool of talents.
Mr Zaqy said portable medical benefits and greater reliance on national health insurance schemes offered by the Government may be the way forward so that companies may not need to provide as much health insurance coverage for staff. It is also about trust, employees feel 'You trust me to get the work done even though I'm not sitting at my desk'," he said.
Mr Zaqy said job hopping is a sign of an economy that has been doing well, which is good compared with high youth unemployment rates in some other countries. Concurrently, decreases were seen in the provision of other types of non-statutory leave types as companies adjust to ensure that they are applicable and relevant to employees.
In the last two years, more companies offered formal FWAs by allowing employees to work from home for extended periods of time, as well as ad-hoc FWAs by giving employees the flexibility to work from home on a case-by-case basis, the report said.
SEE ALSO: Singapore, Sichuan ink 17 pacts on back of jump in bilateral trade "Employees, likewise, when offered flexible work arrangements, see it as a sign that they are valued by the company and that the company is willing to accommodate employees' responsibilities outside of work.
The proportion of firms offering at least one formal FWA increased from 50 per cent in to 53 per cent in while firms offering at least one ad-hoc FWA went up from 75 per cent to 84 per cent in the same period. Up from 81 per cent, 87 per cent of employees now work in companies that offer at least one ad-hoc FWA at the same time period.