73% of professionals in Singapore will seek new jobs in the next six months: Michael Page Singapore

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SINGAPORE, June 82022 /PRNewswire/ — Triggered by the global pandemic, the Great Resignation happened in Singapore for two years and will only intensify in 2022. There has been a wave of resignations in Singapore with almost half (47%) of employees having been in their current position for less than two years and a significant 73% of employees looking for new career opportunities in the next six months.

Nilay Khandelwal, Managing Director of Michael Page Singapore
Nilay Khandelwal, Managing Director of Michael Page Singapore

Professional recruitment services company, Michael Page Singapore, has launched the ‘Talent Trends 2022 Report’, titled ‘The Great X’, which features insights and market sentiment drawn from a survey of 1,400 employers and employees in Singapore.

While salaries, bonuses and rewards are still the top motivating factors for candidates, the survey shows a strong tendency to prioritize non-monetary benefits. A significant 65% of respondents in Singapore are willing to forgo a raise and/or promotion for better work-life balance, overall well-being, and happiness.

Nilay KhandelwalManaging Director of Michael Page Singaporestates, “With its stable geopolitical environment and ease of doing business, Singapore continues to be an attractive global investment center. The importance of the country as a gateway Asia continues to thrive as companies consider Singapore as a starting point to enter Asia or a base to expand their operations. With the high vaccination rate and the recent announcement of the easing of border restrictions, we expect an optimistic outlook, even if the pandemic evolves. »

As economies improve, businesses cannot underestimate the psychological effect the merging of “work life” and “home life” has had over the past two years. 62% of respondents want a hybrid way of working between working from home and working in the office.

Additionally, 59% of Singaporeans have asked or will consider asking about a company’s DE&I policy in interviews and 32% say the lack of a clear DE&I commitment would prevent them from actively seeking a job opportunity.

The pandemic has also shifted priorities, with 69% of candidates saying they think mental health and wellbeing should play a role in employee performance, measurement and reviews. Companies need to create positive work cultures where employees at all levels feel valued, or risk losing high-performing talent to competitors.

It has been found that a significant number of employees do not feel supported by their employer. 52% of respondents say their workload has increased compared to before COVID-19. 82% believe that their company does not take active measures to ensure work-life balance. Companies need to change things and help employees work more efficiently.

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