This January, 31% of workers in Singapore said they plan to change employers by June. If they have followed through with that intention, a large number of employers will already have seen significant turnover in the first quarter of the year, and more will be leaving within the next month. The intention to leave is 3% higher than during the same period last year.
This prediction is among the early findings of Randstad's annual Employer Brand Research report, which also surfaced that 41% of workers are planning to change their job - although not necessarily their employer - by June this year.
The top reason for wanting to move is work-life balance (64%), followed by salary and benefits (63%), and a pleasant work atmosphere (51%). While work-life balance has emerged as a major consideration in recent years, and compensation has always been a reason for changing jobs, the emphasis on a pleasant work atmosphere does suggest that after two years of working from home, many employees in Singapore are finding the physical workplace less bearable than previously.
Jaya Dass, Managing Director at Randstad Singapore and Malaysia, pointed out that the tight labour market is probably encouraging employees to be more ambitious about seeking out opportunities, and that, given the benefit of choice, they are more likely to look for flexibility.
“Besides wanting a higher salary, many employees are also looking for a holistic work experience, which includes flexible work schedules and a conducive environment for them to grow in their careers," she said. "In the interest of maintaining a good work-life balance and a safe work environment, employees may feel more motivated to look for employers that offer better work flexibility.”