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Those in Malaysia are most stressed about work (49%), ahead of those in Singapore (46%), followed by Thailand (32%), Vietnam (29%), and Indonesia (28%).
On average, more than half of the respondents (55%) in UOB's new ASEAN Consumer Sentiment Study 2022 say they are worried about their finances, with those in Singapore expressing this the most (66%).
In Malaysia, about one in two (49%) are worried about their finances, followed by 40% in Vietnam, and 39% in Thailand and Indonesia respectively.
Apart from the above, the study also looked into other factors that the respondents worried about:
Work
- Regional average: 47%
- Singapore: 53%
- Vietnam: 47%
- Malaysia: 46%
- Thailand: 45%
- Indonesia: 41%
Health & wellbeing
- Regional average: 44%
- Singapore: 46%
- Vietnam: 45%
- Thailand: 43%
- Malaysia: 42%
- Indonesia: 40%
Surrounding environment
- Regional average: 43%
- Singapore: 48%
- Malaysia: 48%
- Vietnam: 44%
- Thailand: 36%
- Indonesia: 34%
Basic needs
- Regional average: 42%
- Singapore: 44%
- Thailand: 43%
- Malaysia: 42%
- Vietnam: 42%
- Indonesia: 42%
Zooming in on the work aspect, the respondents were asked to look at the impact of COVID-19, and what they worry most about in terms of work. Regionally, the average respondent is most concerned about the ability to find a job (50%).
By market, respondents in Singapore are the most worried about this (57%), followed by those in Vietnam (51)%, 47% in Thailand, 45% in Malaysia, and 43% in Indonesia.
What else do the respondents say they are worried about?
The possibility of losing their bonus/Annual Wage Supplement
- Regional average: 48%
- Singapore: 54%
- Malaysia: 49%
- Vietnam: 46%
- Indonesia: 45%
- Thailand: 43%
The possibility of having their pay cut
- Regional average: 47%
- Singapore: 52%
- Thailand: 48%
- Malaysia: 46%
- Vietnam: 44%
- Indonesia: 43%
The possibility of losing their job
- Regional average: 47%
- Vietnam: 51%
- Singapore: 51%
- Malaysia: 45%
- Thailand: 44%
- Indonesia: 39%
The possibility of having to work harder as other team members lose their jobs
- Regional average: 45%
- Singapore: 49%
- Vietnam: 46%
- Malaysia: 45%
- Thailand: 43%
- Indonesia: 41%
The fear of a close family member (parents, spouse, main breadwinner) losing their job
- Regional average: 45%
- Singapore: 53%
- Malaysia: 44%
- Thailand: 43%
- Vietnam: 43%
- Indonesia: 34%
Looking at how stressed they feel about work, on average, close to four in 10 (37%) respondents say they are either 'somewhat stressed', or 'very stressed', while close to three in 10 (27%) say they feel 'very calm' or 'somewhat calm'.
Among the markets studied, respondents in Malaysia seem the most stressed of the lot (49%), ahead of those in Singapore (46%), followed by Thailand (32%), Vietnam (29%), and Indonesia (28%).
What kind of support do respondents in ASEAN seek from their employers?
With the above in mind, the study looked at the types of support employees are seeking from their employers. Above all, respondents are seeking flexible work hours, with an average of 58% in the region saying so. Breaking down the numbers by market, those in Malaysia are most after this form of support (65%), followed by respondents in Singapore (63%), Indonesia (60%), Vietnam (52%), and Thailand (49%).
Meanwhile, the other types of support listed are:
Options for flexible load
- Regional average: 42%
- Malaysia: 45%
- Vietnam: 44%
- Indonesia: 43%
- Singapore: 39%
- Thailand: 38%
Ability to encash used annual leave
- Regional average: 41%
- Malaysia: 47%
- Singapore: 45%
- Vietnam: 40%
- Thailand: 36%
- Indonesia: 35%
Sabbatical leave
- Regional average: 40%
- Vietnam: 54%
- Thailand: 46%
- Malaysia: 38%
- Indonesia: 33%
- Singapore: 31%
Corporate
- Regional average: 35%
- Indonesia: 44%
- Vietnam: 38%
- Malaysia: 38%
- Thailand: 37%
- Singapore: 25%
Talks on mental wellness
- Regional average: 27%
- Vietnam: 33%
- Thailand: 30%
- Indonesia: 29%
- Malaysia: 26%
- Singapore 20%
The most important factors respondents consider in a job
The above aside, respondents were also asked about the top factors for them in a job – and the top three cited on a regional average were 'a job with decent salary & benefits' (52%); 'a company that promotes good work-life balance' (43%), and 'a job that offers stability' (40%).
On the other hand, the least important factors cited include 'an exciting and challenging role' (17%); 'a well-known/established company' (18%), and 'a company that promotes inclusivity & diversity' (20%).
The UOB ASEAN Consumer Sentiment Study surveyed close to 3,500 members of the public in Singapore, Thailand, Malaysia, Indonesia, and Vietnam in June 2022, on five different domains, namely societal progress, individual financial behaviour and career prospects, consumers’ digital evolution, sustainability, and future financial trends.
Image / Shutterstock
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