Over 9 out of 10 people hired within the past year are still open to new jobs

SINGAPORE: Recruitment agency Michael Page recently found in a study that more than nine out of 10 people hired within the past year are still open to the possibility of new employment.

Moreover, 49 per cent of the study’s participants are actively looking for new jobs or intend to find new employment in the next six months, while 43 per cent are “on the fence” but are, nevertheless, open to finding a new job.

That 92 per cent of the employees are open to fresh opportunities shows that “the talent market is in a universal flux’ and that firms can depend on only one of 10 employees to stay in their jobs.

The Michael Page Singapore Talent Trends 2023 report, titled “The Invisible Revolution”, characterises today’s work environment as “increasingly fluid and dynamic work” and still in a constantly evolving state, especially since the Covid-19 pandemic began.

Interestingly, the study showed that one out of two Singaporeans have changed job roles since the outset of the pandemic, “demonstrating both the resilience and adaptability of our nation’s workforce”.

Additionally, while half the study’s participants express job satisfaction (50 per cent) and 69 per cent say they are satisfied with their salary, “an astounding 92% are open to new opportunities,” notes the managing director of Michael Page Singapore, Mr Nilay Khandelwal. He adds, “This paradox indicates a fundamental reset of people’s relationship with their jobs and the value they attach to them.”

The study also shows that employees are open to new jobs, regardless of the date they joined their current companies.

“With just less than half who started their job as recently as 2022 actively looking for a job right now, clearly something transformational is happening within the talent market,” the study added.

The report pointed out that job loyalty is no longer what it used to be, and that the idea of staying with one firm for the long haul is an “obsolete concept”, with employees being increasingly more open to fresh opportunities.

/TISG

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