SINGAPORE:Â A significant portion of Singapore’s workforce is contemplating a change in their career trajectory, with a recent survey revealing that 35% of employees intend to switch jobs in the first half of 2024. This marks a notable increase from 30% in the same period last year.
The findings come from a comprehensive survey conducted by human resources firm Randstad, which included responses from over 173,000 individuals worldwide, including more than 2,600 participants from Singapore.
The results underscore a growing trend of job mobility in the city-state, driven by evolving employee expectations and workplace dynamics.
The survey highlights several critical factors influencing employees’ decisions to seek new opportunities. Leading the list are demands for flexible work arrangements, equitable salaries, and enhanced career development prospects.
These reasons reflect a shift in workplace priorities, particularly as the global workforce adapts to post-pandemic norms.
A deeper dive into the data reveals that 41% of respondents cited the pursuit of a better work-life balance as a primary reason for leaving their current positions. Meanwhile, 33% indicated that limited opportunities for career advancement prompted their decision to seek new roles.
Young professionals, particularly those aged 34 and below, represent the largest group intending to switch jobs. This demographic has seen a notable increase in job change intentions, rising from 33% in 2023 to 39% this year.
The survey suggests that younger workers are particularly driven by the desire for flexibility and growth, which aligns with broader generational trends favoring dynamic career paths over traditional long-term employment.
These findings pose significant implications for employers in Singapore. To retain talent, companies may need to reassess and potentially revamp their workplace policies, including offering more flexible working conditions, ensuring competitive remuneration, and providing clear pathways for career development.
Addressing these areas could be key to mitigating turnover and attracting skilled professionals in a competitive job market.
As the landscape of employment continues to evolve, the rising inclination of Singapore’s workforce towards job mobility signals a critical juncture for both employees and employers.
The survey by Randstad sheds light on the shifting priorities of the modern workforce, emphasizing the need for businesses to adapt to these changes to sustain their competitive edge and maintain a motivated workforce.
TISG/