Freight Forwarder Industry In Singapore

There is no gain stating the obvious fact that the freight forwarder industry is one of the most significant industries in Singapore, actively contributing to the growth of its economy. In fact, this industry of Singapore has been ranked number 1 amongst 155 nations, clearly demonstrating its role in improving the GDP of the company. However, the company has been recently experiencing employee turnover issues, whereby factors such as low wages or lack of career progression have compelled the workers to look for other companies. The high rate of employee turnover is indeed a problem, as it affects the revenue growth of the company, while also leading to stalling productivity growth amongst the workers. Hence, it has become imperative to conduct a research and carefully investigate the factors leading to such high employee turnover rates in the industry. The absence of employee growth and training opportunities or absence of employee recognition might be the common reasons behind this. Hence, the present research intends to conduct a survey and critically analyse the factors which contribute to the problem of high employee turnover rate in the industry.

Accordingly, it also intends to offer concrete recommendations that can help the management authority of the Singaporean companies, belonging to this industry, retain the employees and enhance productivity. It is a well-known fact that high rate of employee turnover entails increased expenditure on fresh training and induction, as well as a reduced rate in employee productivity. Further, this can also affect employee motivation and brand reputation of the company at large. Hence, the research will help in exploring the real reasons behind the high employee turnover in the freight forwarder industry of Singapore and solving the problem of employee turnover to a considerable extent.