Singapore’s workforce on the move: Half of employees eyeing new jobs in 2025

SINGAPORE: Survey findings of Morgan McKinley’s 2025 Salary Guide featured in the latest HRD Asia report revealed that 55% of Singaporean professionals intend to vigorously seek new jobs in the next six months. Simultaneously, 50% of hiring managers being surveyed are also planning to employ new talents in the same period. Thus, all over Singapore, employers are preparing for an “intense competition for talent”.

Andrew Evans, Chief Operating Officer of Morgan McKinley, Asia Pacific, said in a statement that their survey undoubtedly reflected that Singaporean professionals are seeking new opportunities and novel work experiences while business managers/owners are confronted with significant challenges in enticing and getting the right candidates.

Expectations and what’s real

The report likewise disclosed that topping the list of challenges confronting employers and business organizations in hiring and talent retention is the extensive gap between what job candidates are expecting to find and what they actually find in the workforce as far as pay and flexibility are concerned.

While flexibility remains high on workers’ expectations, it was found that 62% of organisations are demanding that staff members report to the office more regularly.

Another decisive factor in talent hiring and retention is compensation. Fifty per cent of workers in Singapore admitted they are hopeful that they will get an increase in 2025.

Evans warned that if employers fail to offer viable remuneration, provide benefits packages, deliver worthwhile work-life balance strategies, and meet job candidates’ anticipated flexibility, it will result in lost hiring opportunities.

In addition, Evans and other hiring experts believe that those business organisations that methodically adjust their compensation rates, including overtime pay, and align their workplace guidelines with workers’ demands for flexibility, career advancement, and transparency are the ones that can secure the right talents, will survive and thrive in this dynamic market.