- Generation X are most concerned about their job security.
- 56% of Millennials said that career progression is an important factor they look for in an ideal employer.
- 56% of Gen Zers said that their employers did not provide enough development opportunities.
New survey results from Randstad Singapore’s 2022 Employer Brand Research revealed that 31% of Generation X workers, aged between 42 and 57 years old, fear job loss.
It’s important for Singaporeans to feel skilled enough to not just perform their work, but also have access to new job opportunities in a highly competitive labour market.
Singaporean workers are looking for an employer that offers them a good salary and benefits package. They also look for companies that provide training and development opportunities to close the skills gap, help them become more productive workers as well as progress in their careers.
gen X needs to reskill and upskill to stay employed
As more companies digitise their processes, many Generation X workers fear that they may lose their job stability if they are unable to keep up with digital transformation.
Furthermore, Gen Xers may also face a more difficult time finding a new job if they were to be made redundant due to age discrimination.
To cope with the rapid digitalisation, generation X workers need to be more proactive about learning new skills and gain knowledge in areas that can help them compete with the younger generations. They must update their current skills in order to bridge the gap in their skill sets and remain employable.
Companies must constantly invest in the skill development of their workforce to maintain a level of security for their employees. People are more likely to be engaged and productive in their interactions and work when they understand how their work contributes to the company’s growth.
millennials look for companies that can offer good career progression
When asked about their top employee value proposition (EVP) factors, Generation Z, millennials and Gen Xers workers ranked salary and benefits first and work-life balance second, respectively.
However, the survey recorded distinctive differences after these hygiene factors.
As one enters new stages of life, there is a fundamental shift in one's career and work priorities. Employers need to understand the differences between each generation of workforce to curate highly-targeted workforce strategies that can effectively engage with the different age groups and meet employees expectations.
For example, it’s important for companies and business leaders to create a pleasant work environment for Gen Zers who are excited to kickstart their careers. This generation looks forward to connecting and working with others who share their passion and values. On the other hand, millennials may need more support in learning and development to advance in their careers.
millennials and gen zers find upskilling opportunities very important
In Singapore, 79% of millennials said that it is important that their employers offer re-skilling and upskilling opportunities for career development.
Many Singaporeans are motivated to upskill to keep up with the demands and expand their career options in this competitive labour market. The younger generations have higher expectations for learning and development as they want to improve a variety of skills to advance in their careers.
This could range from soft skills like communication and team management, to technical skills like UI/UX and data analytics to increase their productivity or improve their employability for other more in-demand roles.
singaporeans don’t feel that they are receiving enough learning opportunities from their employers
Singaporean workers believe that they do not receive sufficient training and education opportunities from their employers. Only 52% of Singaporeans surveyed felt that they were given sufficient training and education opportunities by their employer.
Even though the appetite for upskilling tapers down as people get older, it does not mean that companies should stop providing learning opportunities. Lifelong learning is critical to aligning the workforce on the company’s growth plans and retaining highly productive employees who will continue to contribute to the business.
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The 2022 Randstad Employer Brand Research provides employers with a unique opportunity to uncover new insights and validate their assumptions about employees and job seekers. This independent research is the most representative employer brand study in the world, reaching out to more than 163,000 respondents across 31 markets, including 2,705 who are based in Singapore in January 2022.
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