21% of respondents reported that their skills have become more relevant during the pandemic. 7 in 10 respondents said that their skills remained about as relevant during the pandemic.

By extension, 14% of respondents have seen an improvement in their income-earning ability and 39% got a promotion and a pay raise. However, of those who got promoted, 19% did not get a pay raise with it.

my career development

I've not been promoted 61%
I've been promoted and received a pay raise
I've been promoted but I'll only get a pay raise later
I've been promoted but I'll not be receiving a pay raise at all

Randstad - the world’s leading human resources solutions agency - today released the results of their H2 2021 Workmonitor survey in Singapore. The bi-annual survey highlights the workforce’s latest sentiments and perceptions of the local labour market. 

Ever since the outbreak of COVID-19, employees in Singapore are faced with new work challenges that puts their income and job security at risk. Employees are hence more motivated to upskill and adapt to hybrid working environments to ensure their employability during the pandemic. Many employees have become more digital-savvy and are more confident with using new technologies as a result, which would make them more attractive to hiring managers. 

employees are feeling insufficiently rewarded and under-compensated

Even though some employees may have become more productive or skilled, some companies have held off internal promotions due to the uncertainty of the pandemic. However, companies that want to retain their valued staff should ensure that their employees are fairly remunerated and have good career advancement opportunities within the organisation. 

Employers should develop an actionable long-term workforce upskilling strategy that aims to let employees know the specific skills that they need to acquire to be exposed to career advancement opportunities. 

reasons why employees look for other jobs
reasons why employees look for other jobs

The survey also revealed that 64% of respondents in Singapore feel that they are not fairly or sufficiently rewarded for their current skill sets and are therefore motivated to look for another job. 

In particular, young Singaporeans feel the most under-compensated. 3 in 4 respondents aged between 18 and 24 reported feeling unfairly rewarded for their skill sets and are therefore looking for another job. On the other hand, only 49% of respondents aged between 55 and 67 echoed this sentiment. 

upskilling and work readiness are significant contributing factors for pay raises and promotions

Locally-based employees recognise that upskilling is a path that they have to take to get promoted or pay raises, but 78% of them struggle to decide what skills they should acquire. In particular, younger professionals struggle the most. More than 4 in 5 respondents aged between 18 and 34 feel uncertain about what skills to acquire. 

adopting to skills of the future
adopting to skills of the future

While pay raises and promotions are strong reasons why people choose to upskill, many are doing it for income and job security. The rapid technological changes and digitalisation have created new jobs that require specialised skills and knowledge, bringing about new career challenges for our younger generations. There is also a general lack of time and energy to upskill as employees take on more workload with tighter deadlines.

94% of respondents in Singapore feel the need to keep learning and developing themselves in order to retain or increase their employability. 

With the pandemic accelerating the adoption of digital technologies, there is also an increasing fear of digitalisation and automation among Singaporean workers. Skills mismatch has worsened and the majority of new jobs require skills that the current workforce lacks. The pandemic has made it difficult for workers to accurately predict how digitalisation will impact their career prospects and demand for their skills. Lifelong learning can help our future generations develop more relevant skills so that they can continue to drive innovation and make positive changes in the new world of work.

about randstad workmonitor

A leading global HR solutions and recruitment leader, Randstad conducts the Workmonitor survey to explore the changes in candidates’ expectations and challenges twice a year to help employers manage their talent attraction and employee engagement strategies.

Digital literacy is a critical skill that many employers like you look for in job seekers. Offering employees the option to work remotely can help attract more digital-savvy talent who shares your values to join your organisation. Hybrid work, when done right, can help organisations develop a more productive, happier and healthier workforce. 

Besides Workmonitor surveys, our recruitment consultants at Randstad Singapore regularly conduct market research to help inform our clients on the latest talent trends. Connect with us for specialised talent recruitment services or if you want to know more about what’s happening in your space.

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