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More than 4 in 5 Singapore professionals are considering a new job in 2024: LinkedIn research
According to the LinkedIn study, the desire for higher pay was among the top motivators for changing jobs among Singapore workers.
SINGAPORE — More than four in five (86 per cent) professionals in Singapore are considering looking for a new job in 2024, according to new research from professional networking site LinkedIn.
Findings from the research revealed that this figure was up 15 per cent year-on-year compared to 2023, with 95 per cent of Gen Zs and 88 per cent of millennials in Singapore making up the largest group of those considering a new job in 2024.
The research was conducted with 1,057 professionals in full-time or part-time employment across Singapore between 24 November to 12 December 2023. The job search intensity is calculated monthly using the average number of job applications per applicant, based on job applications submitted by members in the same country as the job posting.
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According to LinkedIn, findings from the research "signals a shift in attitudes where professionals are no longer willing to stick it out". Instead, professionals in Singapore are "taking ownership of their careers" and "want to make up for lost time by focusing on productivity and career growth".
LinkedIn also revealed that job search activity on its platform in Singapore has increased by 19 per cent in 2023, compared to 2022.
Why are professionals in Singapore searching for new jobs?
The biggest motivators for changing jobs among Singapore professionals were the desire for higher wages (46 per cent) in a challenging economic environment, and a better work-life balance (35 per cent).
Professionals in Singapore were also more confident about their job prospects than they were last year, with one in two workers saying that they feel confident about their job prospects if they were to leave their jobs.
Additionally, the study also found that over seven in 10 (71 per cent) Singapore professionals who were planning to search for new jobs said they would likely choose a different industry or job role. Their top motivations for doing so include a desire to explore other interests (42 per cent) and to pursue a role or industry with better growth prospects (40 per cent). Another 40 per cent said they were motivated to add to their experience and make themselves a more attractive candidate.
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