Jobseekers in Singapore have made job security one of the top considerations — 11.4% of respondents — when hunting for a new job or employer, a local survey by Jobstreet.com shows.
The company’s Laws of Attraction study, which covered covered over 7,000 job seekers across 20 industries, also shows that the top consideration was salary & compensation (16.6%), with an expectation of a 22% pay rise when changing jobs.
Third priority among jobseekers was work-life balance (13.7%). Former top priorities such as future prospects, employee benefits, management and culture of the organisations are now becoming less important.
Previous survey results showed career development as a key driver, with candidates expressing desire for job-related trainings and opportunities to upskill. However, such opportunities were largely dependent on organisations’ resources, or the lack thereof.
Against the backdrop of global slowdown, coupled with the age of digitalisation and impetus for Singapore to evolve into a smart nation, local jobseekers are ever more concerned about their employability, even with the country’s low rate of unemployment.
Across all industries, respondents were shown to be keener on permanent roles, with about 33% reporting that they would decline a job offer if it was on a part-time or contract basis.
Over 50% of those surveyed believe that a five-day work week and being entitled to a sufficient number of paid holidays are essential to achieving that work-life balance. Shift work was also an unpopular choice, with 44% indicating they would not consider the job offer if irregular hours were a requirement.
Also, employees still see attractive salary packages as an important criterion when it comes to accepting new job offers. However, this is not across the board. The survey found that Gen Z respondents (18- to 23- year-old) are willing to trade off salary and compensation for exciting career development opportunities, modern working environments and companies that are socially responsible.
“Evidently, a one-size-fits-all HR strategy no longer works today. In order to attract and keep talents passionate and engaged, hirers must first be able to embrace the different behaviours and expectations of every candidate and derive HR strategies that align with their differing priorities,” said Chew Siew Mee, country manager of Jobstreet.com Singapore.