More than 40% of workers in Singapore are considering quitting their jobs to improve their work-life balance, according to a recent study.
SINGAPORE: A recent survey indicates that job switching in Singapore has surged to levels seen before the COVID-19 pandemic, with employees increasingly prioritizing work-life balance over salary and benefits.
The 2023 Employer Brand Research Singapore report, conducted by global talent firm Randstad, found that 41 percent of respondents are planning to leave their current jobs in search of a better work-life balance, which they define as having enough time for personal leisure and family activities.
“The demand for work-life balance has intensified, with more people seeking employers who offer flexibility, manageable workloads, and the necessary support to enhance productivity,” the report notes.
In 2023, ‘good work-life balance’ has become the top priority for workers when choosing an employer, surpassing the importance of ‘attractive salary and benefits,’ which ranked first in 2021 and 2022. The survey now shows that salary and benefits are considered the second most important factor, followed by job security, career progression opportunities, and the financial health of the company.
The report also revealed that 30 percent of employees in Singapore are planning to switch jobs within the year, with millennials (ages 25-34) being the most likely demographic to make the move, compared to Generation X (ages 35-54) and Generation Z (ages 18-24).
Furthermore, 47 percent of survey respondents expressed concerns about job security. However, the fear of job loss has decreased by 4 percent from 2022, reflecting a shift in priorities toward finding stable employment with opportunities for skills development.
The survey, which gathered insights from over 163,000 respondents across 32 global markets, included 2,753 participants from Singapore.
