The 2020 COVID-19 Labour Pulse Survey was commissioned by Randstad Singapore, and surveyed 638 of locally-based employees between 26 June 2020 and 5 July 2020. The survey aims to understand the local workforce’s sentiments about the employment market this year, including the challenges and experiences of job seekers thus far.
The survey revealed that 86% of respondents are motivated to upskill and re-skill in the next 12 months. Of the 86% of respondents, 55% said that they are doing so to be prepared for how automation and digitisation will affect their future. 19% are looking to change their career or job industry, while 16% mentioned the fear of losing their job due to redundancy.
Employees are also harbouring greater expectations for their employers to help guide their career development. Specifically as to what type of skills to acquire and how to build their digital capabilities in the ‘new normal’. Employers should strive to meet the employees’ expectations and elevate the quality and readiness of their workforce.
58% of respondents are willing to take a lower paying job
The pandemic has resulted in weaker labour market conditions globally. The number of unemployed persons increases and the number of available jobs in the market decreases.
New graduates and mid-career switchers looking to enter a new industry or start a career that is unrelated to their past accumulated work experience should also adjust their salary expectations. Even though they may be taking home a lower salary, they would be able to acquire new skills and gain experiences.
Once they have acquired the skills and experience through robust training programmes offered by their employers and when businesses regain their confidence, they can renegotiate the terms of their employment.
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