The majority of CFOs in Singapore expect the stress levels of their finance staff to increase over the next three years, according to research from international recruitment firm Robert Half.

The research, which showed that 78% of CFOs expect stress levels to rise in the next three years, also shows that 56% of CFOs cite increased workloads as the main cause of growing stress. Meanwhile, 54% cite increased business expectations, while 40% blame shorter deadlines and 38% blame a competitive marketplace.

“Singapore has a global reputation for business excellence, with finance professionals working in a highly competitive marketplace,” Matthieu Imbert-Bouchard, Managing Director of Robert Half Singapore said. “Yet long working hours, higher workloads combined with shorter deadlines and increased business expectations can cause stress levels to rise among Singapore’s workforce. It’s vital for the city- state’s bosses to not only recognise growing stress levels within their workspaces, but to actively address it.”

To effectively manage workplace stress, 94% of Singaporean CFOs are taking measures specifically designed to reduce stress in the workspace. More than half (55%) are respectively encouraging staff to give regular feedback to management and offering flexible working hours or remote work opportunities. Just over half (51%) are redesigning the office space to facilitate better productivity and promote a more efficient working environment and more than four in 10 (42%) are hosting regular social team activities.