SINGAPORE: A recent survey conducted by Randstad, the world’s largest human resources company, has revealed that more than 40% of employees in Singapore have either changed jobs or plan to do so within a 12-month period.
The findings, based on responses from approximately 2,500 individuals, highlight a growing sense of restlessness in the workforce—particularly among professionals in the financial and technology sectors.
The key driver behind this trend, according to the survey, is a lack of flexibility in work arrangements. Despite widespread adoption of hybrid work models in recent years, many employees are now being asked to return to the office more frequently—a move that appears to be sparking dissatisfaction.
Randstad noted that while many employers have implemented flexible work policies, there remains significant room for improvement.
In addition to the demand for flexible working arrangements, financial pressures are also motivating employees to seek new opportunities. The survey cited higher living costs and the desire for better salaries as secondary factors fueling job-switching activity.
“Beyond salary and benefits, companies and HR professionals in Singapore have other options to enhance employees’ sense of belonging and address the talent retention challenges they face,” a spokesperson for Randstad Singapore said, emphasizing the importance of workplace culture and employee engagement in today’s competitive labor market.
While the desire to move is high, not all sectors are seeing a smooth path to re-employment—particularly in the information technology field. According to the survey, only 11% of IT job seekers managed to secure new positions in the second half of 2024, pointing to a tightening labor market. This comes amid the rapid development of artificial intelligence, which has reshaped hiring priorities across the industry.
Experts point to a notable shift in recruitment trends within the tech sector. Voluntary turnover remains high at 15.1%, while involuntary turnover—such as layoffs or contract terminations—has remained relatively stable at around 4%.
Analysts suggest that this disparity could indicate an oversupply of talent or a mismatch between available skills and the requirements of current roles.
As Singapore’s job market continues to evolve, both employers and employees may need to recalibrate their expectations. For companies, this could mean rethinking talent strategies to align with employee values. For workers, especially those in tech, it may involve upskilling or re-skilling to stay competitive in a rapidly changing landscape.