Finding a good job and building a lifelong career in an organization used to be the goal of many employees, however, it’s clear that this has gone to the wayside. With the changing of jobs every few years becoming the new norm, straight career paths are now also under scrutiny from employees in Singapore, Hong Kong and Malaysia.
According the Randstad’s latest Workmonitor Research for Q2 2017, 73% of employees globally felt that the "job-for-life" was all but extinct. This sentiment was much higher across the region with over 8 in 10 employees in Singapore, Hong Kong and Malaysia agreeing that life-long jobs no longer existed. Employees in Singapore and Hong Kong shared a higher sentiment, 83%, compared to those in Malaysia, 76%.
Surprisingly, the more senior employees in Singapore and Hong Kong were more pessimistic about job-for-life than their younger counterparts, going against popular thinking that Millennials are the job-hopping generation.
Managing Director for Randstad Singapore, Hong Kong and Malaysia, Michael Smith noted, “The Workmonitor findings should worry organizations who do not take great care of their employer brands. Our Employer Brand Research showed that over a third of all employees are looking to leave their jobs in the next six months, making it even more important for organizations to do their very best at ensuring they are catering to their very best talent.”
Mr. Smith attributed the demise of lifelong jobs and careers to the growing willingness of employees to move organizations and specializations to define their own career paths based on their own requirements. With organizations having understood that the traditional career ladder has evolved into a career web, employees are often provided the opportunity to move laterally within their current companies with strong retraining programmes to boost retention of their best talent.
“Despite the less-than-encouraging findings from this latest Workmonitor research, many organizations are starting to take appropriate steps in ensuring that their employees are being provided opportunities for retraining and lateral movement. My discussions with senior leaders across industries say they find these lateral movements highly beneficial for both the organization and the employee, as it allows for fresh innovative perspectives, faster on-boarding and stronger retention rates,” added Mr. Smith.
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about the Randstad Workmonitor
The Randstad Workmonitor was launched in the Netherlands in 2003 and now covers 34 countries around the world, encompassing Asia Pacific, Europe and the Americas. The Randstad Workmonitor is published four times a year, making both local and global trends in mobility regularly visible over time. The Workmonitor Mobility Index, which tracks employee confidence and captures expectations surrounding the likelihood of changing employers within a six month time frame, provides a comprehensive understanding of job market sentiments and employee trends. In addition to measuring mobility, it provides insights into employee satisfaction and personal motivation, as well as explores sentiments around key trends shaping the world of work for employees each quarter. The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per country, using Survey Sampling International.
The Randstad Group is a global leader in the HR services industry and specialises in solutions in the field of flexible work and human resources services. Our services range from regular temporary Staffing and permanent placements to Inhouse Services, Professionals, and HR Solutions (including Recruitment Process Outsourcing, Managed Services Programs, and outplacement). By combining our human touch with technology-driven solutions and tools, we aim to offer both clients and candidates the best tools and solutions for increased efficiency and engagement, connecting more people to more jobs. Randstad has top-three positions in Argentina, Belgium and Luxembourg, Canada, Chile, France, Germany, Greece, India, Italy, Mexico, the Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, the UK, and the United States, and major positions in Australia and Japan. At year-end 2016, Randstad had 36,524 corporate employees and 4,752 branches and Inhouse locations in 39 countries around the world. In 2016, Randstad generated revenue of €20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information, see www.randstad.com.sg.