Maybe your job scope is getting stale or the benefits just don’t cut it anymore.
Whatever the reason, you want or even need a career switch.
If that is the case, you’re definitely not alone there.
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Survey Found Many Potential Job-Changers
In January, recruitment company Randstad surveyed respondents and asked if they would plan to change jobs within the next six months.
The response?
31 per cent of the respondents said they would.
This marks a three-percentage point increase from the same period in 2021.
This also spells an upcoming trend as the labour market continues its recovery. With more jobs being made available and incomes rebounding, more workers may change employers.
Finding Better Work Opportunities
“As job vacancies abound and outnumber job seekers in the market, many employees are tempted to find better work opportunities,” said Jaya Dass, managing director at Randstad Singapore and Malaysia.
She added that employees are looking for a higher salary and holistic work experience which includes flexible work schedules and a conducive environment for them to grow in their careers.
Factors Motivating the Switch
Randstad’s annual employer brand research survey also showed that 18 per cent of respondents had changed employers between July and December last year.
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The top three drivers motivating them?
Work-life balance, salary and benefits and pleasant work atmosphere.
When respondents were asked how worried they were about losing their job this year, two in five employees — or 41 per cent — indicated they were worried enough to change their jobs in the first half of this year.
This marks a five per cent increase from 2021.
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More Jobs Available
Other possible reasons for a high percentage of respondents wanting to change employers were noted by Sim Gim Guan, executive director of the Singapore National Employers Federation.
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Firstly, there were more than two job vacancies for every job seeker at the end of 2021, and as the Singapore economy reopens, there will be even more job opportunities available.
The chance of finding another job is higher in a tight labour market, Sim added.
Resignation Rate Might Be Lower
Secondly, there may also be ‘pent-up’ resignations in the first half of 2022 as employees may have delayed their plans to switch jobs over the past year, when the economy was still facing uncertainties.
He added that the actual resignation rate could be lower as their employers may be able to resolve the issues that caused employees to think of resigning.
For example, the employer may be willing to offer a suitable flexible work arrangement to someone who needs it.
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Meanwhile, if the salary was an issue, employers could redesign jobs to improve productivity so that they can afford to pay higher salaries.
Overall, it is unsurprising that many are looking for better career opportunities as economic activities return all around the world.
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