Small and medium enterprises (SMEs) hamstrung by the tight labour market have been given a lifeline, under a two-year pilot announced today (Aug 19) that…
Millennials in Singapore Looking to Overhaul their Careers: Findings RevealNEWS October 30, 2015
Millennials in Singapore are seeking opportunities to change up their careers, with more than three in four (79 per cent) already wanting to do something completely different, according to the Randstad Q3 2015 Workmonitor.
Born between 1980 and 2000, Singapore’s Millennials are more inclined to try out a variety of roles in different industries compared to their older counterparts, with 28 per cent citing a personal desire for change as the main reason for recently switching jobs.
Part of this stems from having confidence in their job prospects, with 82 per cent assuming they would find another job within six months.
Country Manager for Randstad Singapore, Jaya Dass said the results show how ambitious and mobile this generation of workers is, highlighting the need for employers to create tailored engagement strategies to retain them.
“There are currently about 1.2 million millennials in Singapore, representing 22 per cent of the country’s population, each with a different career outlook compared to the generations before them. They have higher expectations of themselves and their employers, seek greater challenges and place more importance on the type of work they do, with the majority (92 per cent) focusing on job content when looking for a new role,” said Dass.
The research also showed that companies will need to invest in their employer brands to attract these workers, with 92 per cent of Millennials reviewing a company’s reputation before taking on a role, while 96 per cent want to know whether the company is a good cultural fit.
“Typically, these workers are less motivated by money, instead coveting rapid advancement opportunities and a challenging work environment, and they want to work for a company that improves society. Recognising this, it is important that employers engage their Millennial talent with the opportunity to work on a diverse range of projects that enhance their skills, while giving them a sense of purpose,” Dass suggests.
The survey of over 400 employees in Singapore also found that 25 per cent of Millennials jumped ship in the last six months to fulfil their ambition of being part of an organisation’s management team.
Career growth and professional development are key engagement drivers for Millennials, with 66 per cent currently focused on getting a promotion.
“Employers who are able to clearly define career development paths, provide a wide variety of work and show they’re good corporate citizens will win the war for talent in Singapore’s tight labour market,” Dass concluded.
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