SINGAPORE: A recent survey has found that nearly half of Singaporean workers are leaving their jobs to seek a better work-life balance, as well as higher pay, largely due to escalating living costs.
The 2024 Employer Brand Research report, conducted by Randstad, surveyed 2,602 individuals in Singapore. It found that approximately 41% of respondents had resigned in pursuit of improved work-life balance. Simultaneously, 36% cited the need for higher pay to cope with the rising cost of living as their primary reason for quitting.
David Blasco, Randstad Singapore’s country director, commented on the findings, stating, “Our latest survey reinforces a growing trend in Singapore – talent prioritises workplaces that champion growth, inclusion, and well-being. Despite the rising costs of living, employees are looking beyond just salaries, seeking strong non-monetary factors like work-life balance, job security, and equity.”
The report also highlights the significant impact of artificial intelligence (AI) on the workforce. About 75% of respondents reported feeling the influence of AI in their jobs. This impact is most pronounced among younger generations, with 80% of Gen Z respondents and 78% of Millennials acknowledging AI’s presence in their work. In contrast, only 72% of Baby Boomers and 71% of Gen Xers reported similar experiences.
Approximately 30% of the surveyed workforce use AI frequently, with younger generations leading this trend. Conversely, another 30% indicated they have never used AI in their work, a sentiment more common among Gen Xers and Baby Boomers, with just 14% and 8% respectively using AI regularly.
Blasco emphasized the importance of AI literacy, noting, “The rise of AI at the workplace is exciting, but it’s also natural for employees to have questions about its impact on their careers. Employers must invest in AI literacy programs and foster open communication to ensure that talent remains adaptable to changes.”
The demand for upskilling and reskilling has surged, with 82% of the 173,000 global respondents acknowledging its importance, up 13 percentage points from 2023. However, only 61% of employees reported receiving development opportunities, a marginal increase from the previous year.
Younger generations, particularly Gen Zers (64%) and Millennials (68%), felt they had sufficient career development opportunities, compared to just 44% of Gen Xers. The lack of development opportunities correlates with a higher likelihood of employees leaving their jobs—44% of those without sufficient development options considered leaving, compared to 33% who received adequate opportunities.
The survey also uncovered surprising insights into gender-related barriers in career advancement. Contrary to typical expectations, men reported facing more career roadblocks than women, with 54% of male respondents experiencing such obstacles compared to their female counterparts.
Additionally, those identifying as minorities at work were 20% more likely to perceive career progression barriers due to their identity. Randstad’s findings underscore the necessity for robust inclusion initiatives and equal opportunity efforts in the workplace.
Significant gender gaps were observed in career progression, respect, and perceived fairness in opportunity distribution, indicating a persistent disparity between diversity and genuine inclusion.
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Featured image by Depositphotos
