Singapore’s job seeker sentiment is at a five-year low though nearly half of employers in the island state have plans to increase their permanent headcount this year, said Hays recently when releasing its 2022 Hays Asia Salary Guide.
The salary guide is based on a survey of skilled professionals across China, Hong Kong, Japan, Malaysia, and Singapore, according to Hays, adding that more than 9,500 responses were collected between October to November 2021.
- 47% of Singapore employers said they expect staff levels to increase in the next twelve months.
- This is higher than 36% who reported an increase in staff levels in the last twelve months.
- Similarly, only 10% said they expect a decrease in staff levels, compared to 25% who said staff numbers decreased in the last twelve months. In a separate question, 79% said they did not expect hiring freezes in their organisations this year.
- Employers in Singapore were some of the most optimistic in Asia, with 73% saying they expect business activity levels to increase this year.
- In comparison, 74% of employers in Malaysia expect increased business activity levels. Least optimistic was employers in China, at 60%.
- However, it seems that employees in Singapore are less inclined to leave their jobs. Only 26% of respondents said they are actively looking for a new job this year, compared to 34% last year, and 40% in 2018.
“Our data tells us that the top three factors keeping employees feeling happy with their jobs is salary package, work-life balance, and flexible working options,” said Kirsty Hulston, Regional Director, Singapore.
Given the fewer number of people actively job searching, it indicates that employers’ retention strategies, especially those designed to adapt to a new world of flexibility and hybrid workplaces, are working, Hulston noted.
“However, instead of being complacent, employers should actively listen to their staff more to understand what makes them feel more fulfilled at work,” she advised.