Singapore Freight Forwarder Industry: Turnover Analysis

This report delves into the critical issue of employee turnover within the freight forwarder industry in Singapore. It acknowledges the industry's significant contribution to the nation's economy and highlights the recent challenges of high employee turnover rates. The research aims to identify the key factors contributing to this issue, such as low wages, lack of career progression, and insufficient training opportunities. The report intends to conduct a survey to analyze these factors and provide actionable recommendations to help companies retain employees and improve productivity. The research recognizes that high turnover rates lead to increased training costs, decreased productivity, and potential damage to the company's reputation. The findings will offer insights into the root causes of the problem and propose solutions to mitigate the negative impacts of employee turnover within the Singaporean freight forwarder industry.

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1ABSTRACT
Abstract:
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.