Professionals in Singapore are less committed to their current employer, with 34 percent of respondents stating they have no intention of staying with the company for more than a year. Almost 20 percent say they are uncertain about their intentions to stay in their existing role.
These are among the findings of LinkedIn’s first “Inside the Mind of Today’s Candidate” report.
The report also highlights an overwhelming number of professionals in Singapore – 42 percent of those surveyed – are extremely interested to hear about job opportunities elsewhere. This is higher than the current global average of 30 percent, and surpasses its neighboring countries, Malaysia at 28 percent, and Indonesia at only 19 percent.
Salary is not the single biggest consideration for professionals in Singapore when thinking about changing jobs. While the prospects of a higher salary can motivate 54 percent of respondents to explore a new career opportunity, today’s talents are just as likely to move to a company with values that support their personal interests.
“The talent market in Singapore is well-established and professionals take active ownership of their own career advancement. In fact, Singapore has a strong pool of passive talent as they are open to opportunities. People often move to seek greener pastures when they feel stagnated at a workplace, or have unmet expectations. This makes it even more important for businesses to ensure they build a strong talent pipeline by engaging prospective talent, as well as establish a strong employer brand, clearly communicating their culture and values to attract the right talent,” said Feon Ang, Vice President of Talent and Learning Solutions, Asia-Pacific at LinkedIn.
While workplace values may be key in Singapore, monetary compensation still takes the lead for countries like Malaysia and Indonesia, with 72 percent and 73 percent of the workforce moving to work with employers that give out a higher paycheck.
The price of loyalty
For 67 percent of Singapore respondents who plan to stay with their current employer for several years, the opportunity to challenge themselves and improve their skills is the primary reason for staying. Other reasons include the work-life balance at their company (35 percent), and confidence in company’s future (33 percent).
Following after India (42 percent), the sense of pride in working for an admirable company also matters for 39 percent of the respondents in Singapore, a sign that companies with strong employer brands will continue to see candidates coming their way.