SINGAPORE - Despite slower economic and employment growth, as well as the volatility in the financial markets that has characterised the start of 2016, employees in Singapore remained confident about the job market this year.
In a statement on Monday (Jan 11), recruitment and human resource firm Randstad revealed that almost seven in 10 (67 per cent) Singapore workers believed that they would be able to secure a job at a different employer within six months.
The Randstad Workmonitor Year-in-Review, which tracked employee sentiment throughout 2015, also revealed that only nine per cent of employees, or fewer than one in 10, felt that there was a high chance that they would be retrenched this year.
The survey showed that millennials and Generation Z workers were more confident than their older counterparts, with more than three-quarters feeling self-assured of their job prospects.
Ms Jaya Dass, Country Manager of Randstad Singapore, said that the positivity towards the job market was encouraging, particularly as softer global economic conditions had resulted in the contraction of industries such as offshore and manufacturing.
"With the establishment of the ASEAN Economic Community and the negotiation of regional alliances, Singapore employees are confident that the economy will pick up, which will continue to drive demand for skilled workers in 2016," she said.
She added that government intiatives, such as the SkillsFuture credit programme gave Singaporean workers opportunities to develop new skills, which also fuels confidence.
The year-in-review also found that 27 per cent of Singapore employees have changed jobs during the year, with almost 40 per cent citing a desire for better employment conditions like work-life balance as reasons for their switch.
Other commonly cited factors for changing jobs include personal desire for change (35 per cent), organisational circumstances (34 per cent) and personal ambition (23 per cent).
An overwhelming majority of jobseekers focused on job content and company culture (94 per cent) as well as company reputation (93 per cent) when choosing where to work.
Said Ms Dass: "Understanding these motivations is important for employers as they develop their 2016 talent attraction and retention strategies. This is vital in a market where employee optimism about reemployement is high."