Frequently asked questions (FAQ)
1. How does the Singapore Opportunity Index help me?
For jobseekers: The index offers an additional perspective on the different type of employers using objective workforce data. This helps you discover companies that align with the opportunities you seek while gaining insights into which human capital practices truly drive positive workforce outcomes.
For companies: The index will soon offer benchmarking insights to help companies identify strengths and areas for improvement in your human capital practices to enhance talent competitiveness.
2. Is the Singapore Opportunity Index free to use?
Yes, the index is free for use.
3. How is the Singapore Opportunity Index different from other workplace indices?
The Singapore Opportunity Index serves a different purpose from traditional workplace rankings and indices. While existing rankings and indices typically rely on nominations or surveys, the index uses objective, government administrative data to provide evidence-based insights to develop workforce practices that enhances competitiveness.
The Singapore Opportunity Index complements the ecosystem by offering a data-driven recognition tool that helps individuals and businesses understand what human capital practices drive positive workforce and business outcomes. This approach provides a different lens for evaluating human capital performance based on measurable workforce outcomes.
4. Will the Singapore Opportunity Index be expanded to cover other aspects like company culture or benefits?
The Singapore Opportunity Index focuses on objective, measurable workforce outcomes. Aspects like company culture, employee benefits, workplace relationships, and wellbeing are largely qualitative in nature and are not systematically reported to government agencies, making it challenging to measure consistently across all firms.
The index is designed to complement, not replace, other resources and platforms that provide insights into these important workplace factors. Individuals should use the SOI alongside other career research tools, company websites, employee review platforms, and networking opportunities to gain a comprehensive understanding of potential employers and make informed career decisions.
5. Where is the data from and how credible is it?
The Singapore Opportunity Index uses government data from MOM’s Occupational Employment Dataset, supplemented with demographic and education data. The index tracks the experiences of close to 1 million residents employed across approximately 1,500 firms, covering close to 45% of the resident employees.
The SOI measures workforce outcomes in Singapore across five metrics – pay, progression, hiring, retention, and gender parity, and uses an occupation-weighted methodology based on the Singapore Standard Classification of Occupations 2020 to ensure it accurately reflects the diverse situation of employees within different firms.
This occupation-weighted methodology provides a credible representation of workforce outcomes across Singapore’s diverse business landscape. The methodology has been developed in collaboration with the Burning Glass Institute and the Singapore University of Social Sciences, ensuring it is robust and relevant in both global and local contexts.
6. Why does the Singapore Opportunity Index only cover organisations with at least 100 resident employees? Are there plans to include more companies in the future?
The SOI covers firms which hires 100 or more resident employees as this ensures sufficient occupational coverage in the economy.
We will explore expanding the coverage to include smaller firms in future iterations of the SOI.
7. How often will the Singapore Opportunity Index be refreshed?
The index will be refreshed annually.
8. When will firms be featured on the website? How do I know whether my firm is covered under the SOI?
We will be reaching out to firms covered under the SOI. In the meantime, individuals or firms can subscribe to SOI updates on the website to stay informed.