A more active job market is expected in 2015, as almost a third of managers and professionals in Singapore say they will try to make a job change this year.
Over the past year, 15% of Singaporean professionals applied to one job, 12% applied to two jobs and 21% applied to three or more jobs. Of these professionals, 14% successfully changed jobs in 2014, down from 19% in 2013.
However, 2015 is likely to see an increase in job hoppers, as an additional 4% of local professionals want to switch jobs – from 29% in 2014 to 33% in 2015 – according to MRIC Group’s fifth annual Talent Survey, conducted in partnership with Ipsos.
Howevere, the opposite could be seen in Hong Kong, China and Taiwan, where only 26%, 21% and 20% of professionals respectively said they are planning to change jobs this year.
Intentions to relocate are relatively stable across the markets with 35% of Singaporean professionals, 20% of Hong Kong professionals, 31% of professionals in China and 41% of professionals in Taiwan looking to relocate.
“The job hopping trend in Singapore contrasts with Hong Kong and China, where more professionals intend to stay with their employer compared to 2014. Interestingly, intentions to relocate are stable, which implies a challenging local job market in the coming months” said JB Aloy, senior vice president with Ipsos.
Despite the growing proportion of neutral views about 2015’s economic and financial outlook in Singapore, a significant gap can be seen in the optimism levels between Singapore and the markets in Greater China.
In Singapore, 60% of professionals expressed optimism in 2015, compared to only 46% in China, 38% in Hong Kong and 30% in Taiwan.
“Singapore is less impacted by China slowdown. We see many employers shifting or building new manufacturing centers or data processing facilities in South East Asia,” added MRIC Group CEO Christine Raynaud.
“Singapore is an ideal talent center and coordination hub. Further, restrictions on foreign talent add pressure on the job market.”