Most workers keen to jump ship, survey shows
LOOKING for a new job? You're not alone.
The majority of employees here are itching to switch jobs, if a study released by global recruitment consultancy Hudson yesterday is anything to go by.
The Salary & Employment Insights 2014, which surveyed 477 employers and 1,292 employees across key sectors in Singapore, found that 40 per cent of workers have changed jobs in the last two years, and more than 70 per cent are currently seeking new ones.
The primary reasons people are so keen to jump ship: Lousy managers and a desire to earn more.
The results come amid a tightening labour market, as curbs on foreign labour prompt firms to turn to the resident workforce to fill job vacancies.
Hudson Singapore's director, Mr Craig Brewer, told MyPaper: "Operational conditions in many industries have been challenging, so the opportunities to move to a different role internally may be limited.
"Financial rewards in the last couple of years (also) haven't been so good...(this has) contributed to people thinking now might be a good time to switch jobs."
A supervisor in the oil-and-gas industry, who wanted to be known as Devon, told MyPaper: "I've been with my company for almost five years and sometimes feel like I'm being taken for granted, so I started looking around a few months ago just to see what is out there."
The 29-year-old added: "I've since been made an offer which pays much more, so if my (current) employer can't match up, why should I stay?"
Money certainly talks.
According to the survey, which was conducted last November, 86 per cent of employees in Singapore expect a pay increase this year, with almost 20 per cent wanting an increase of more than 10 per cent.
Over 40 per cent cited pay as the most influential factor when looking for a new job, followed by working for an organisation whose values the employee believes in, which came in at just over 10 per cent.
Climbing the ladder plays a big role in the decision to stay or leave a current role. Almost 37 per cent listed promotion prospects and a clear career path as key deciding factors.
About 30 per cent listed salary or benefits as the most important.
Mr Brewer said: "The Singapore job market is dynamic. If (workers) feel like the organisation isn't delivering on their promises or presenting good opportunities, they are going to look elsewhere."
As for the general employment outlook, Hudson's quarterly report found that 39.5 per cent of employers intend to increase headcount this quarter, down 4.3 percentage points compared to the previous one.
Hudson said this is the second successive quarter where there has been a downtrend in overall hiring outlook, with banking and financial services being the only industry showing an increase in positive hiring expectations.