Advertisement
Singapore markets closed
  • Straits Times Index

    3,297.55
    -26.98 (-0.81%)
     
  • Nikkei

    38,814.56
    +94.09 (+0.24%)
     
  • Hang Seng

    17,941.78
    -170.85 (-0.94%)
     
  • FTSE 100

    8,146.86
    -16.81 (-0.21%)
     
  • Bitcoin USD

    66,552.20
    +228.19 (+0.34%)
     
  • CMC Crypto 200

    1,381.35
    -36.52 (-2.58%)
     
  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     
  • Dow

    38,589.16
    -57.94 (-0.15%)
     
  • Nasdaq

    17,688.88
    +21.32 (+0.12%)
     
  • Gold

    2,348.40
    +30.40 (+1.31%)
     
  • Crude Oil

    78.49
    -0.13 (-0.17%)
     
  • 10-Yr Bond

    4.2130
    -0.0250 (-0.59%)
     
  • FTSE Bursa Malaysia

    1,607.32
    -2.85 (-0.18%)
     
  • Jakarta Composite Index

    6,734.83
    -96.73 (-1.42%)
     
  • PSE Index

    6,383.70
    -7.13 (-0.11%)
     

Some 3 in 10 Singapore workers plan to change jobs in under two years: Ipsos report

For these Singapore workers who are looking to leave their employers, job pay and benefits is the top reason for wanting a change, the Ipsos study showed.

Medium shot of a motivated young Asian businesswoman working with laptop, sitting on the bench, against modern corporate buildings in the city, illustrating a story on workers changing jobs.
A study by Ipsos revealed that about 3 in 10 Singapore workers plan to leave their current employers and change jobs in under two years. (PHOTO: Getty) (Oscar Wong via Getty Images)

SINGAPORE — About three in 10 (29 per cent) workers in Singapore say they plan to leave their current employers within the next two years, according to a report published by research and polling company Ipsos.

In particular, the study highlighted that the intent to leave was prevalent among the 18 to 24-year-old age group, where 47 per cent of those surveyed say they plan to leave their jobs in under two years.

The study, which examined workplace culture, behaviours and talent attrition in Singapore, was conducted online in December 2023 among a representative sample of 1,000 Singapore employees.

ADVERTISEMENT

While 45 per cent of those who plan to leave their employer in the next two years say pay is the main reason for wanting to leave, the study revealed that feeling unrecognised (32 per cent) and a lack of career progression (28 per cent) are the two factors that drive employees to want to leave even faster (within a year).

Other reasons employees cite for wanting to leave their current jobs include manager behaviour (26 per cent), work-life balance challenges (32 per cent), a lack of motivation (25 per cent), and concerns over job stability (22 per cent).

The report also found that among middle and senior managers, career progression was a strong push factor after pay for leaving their employers. Furthermore, it added that feeling valued is as important to 55–65-year-olds as pay and benefits.

What Singapore workers look for in a new job

When asked to name the two or three most important factors when considering a new job, about two-thirds (65 per cent) of survey respondents cite pay and benefits as the top consideration.

This is followed by flexible working opportunities (40 per cent), which ranked higher than factors such as career development (30 per cent) or job security (28 per cent). Furthermore, the survey showed that flexible working is a more important factor for women compared to men (46 per cent vs 33 per cent).

Key population differences among Singapore workers, according to IPSOS survey. (SCREENSHOT: IPSOS)
Key population differences among Singapore workers, according to an Ipsos survey. (SCREENSHOT: IPSOS)

Other factors that Singapore workers think of as most important when considering a new job include the location of the primary workspace (27 per cent), the company culture (24 per cent), and the organisation's business performance (11 per cent). Factors such as the organisation's future commercial strategy, leadership team, and external reputation all garnered fewer than 10 per cent of the responses.

Results from the study also showed that pay and benefits become less important the more senior the employee is, with only 44 per cent of senior managers citing pay and benefits as the top factor. In contrast, 70 per cent of non-managerial employees chose pay and benefits as the top factor when considering a new job. The survey also found thats the importance given to career development opportunities diminishes with increased age.

Follow us on Facebook, Instagram, TikTok and Twitter.

Yahoo Singapore Telegram
Yahoo Singapore Telegram