50% of Singapore workers want to quit

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SG workersUnsatisfactory compensation is the reason that more than half of employees in Singapore are planning to leave their jobs within the next two years, a survey conducted by recruitment agency Randstad among 4,500 white-collar workers has revealed.

The surveyed employees said that they feel that they have helped their companies through tough years, and with the outlook for the Singaporean economy now being more positive, they want their efforts to be recognised or they will leave.

Singapore has delivered dire economic data over in the past as industrial output slumped and weaknesses were seen across a range of industries including electronics, precision engineering and biomedical.

The wealthy city state closely avoided recession in the fourth quarter of 2012. The Ministry of Trade and Industry has said it expected the Singapore economy to grow by 1 per cent to 3 per cent in 2013, figures which are slightly better but are not really indicating a rebound. The World Bank expects Singapore to grow 2 per cent in 2013 and recover in 2014 with a growth outlook of 4 per cent.

The Randstad survey however found that about a third of the employees in the sample will stay with a company if it offers long-term job security, competitive salary and benefits.

Singapore, which has long attracted talented foreign workers, now said it will cut the quota for foreign job-seekers and impose higher levies on companies that hire low-skilled foreigners

Immigration has become an increasingly prominent issue in Singapore, with local residents vocally complaining of the high number of migrants entering the city state in recent years and allegedly pushing up the cost of living and the price of real estate.

The country’s finance minister stated that foreign workers and immigrants now account for more than one third of the total workforce and the government needs to improve job prospects for the native population.

Quotas on foreign workers will most impact the services and marine sectors, including restaurants, retail shops and marine engineering firms, economists said.

 

 

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Reading Time: 2 minutes

Unsatisfactory compensation is the reason that more than half of employees in Singapore are planning to leave their jobs within the next two years, a survey conducted by recruitment agency Randstad among 4,500 white-collar workers has revealed.

Reading Time: 2 minutes

SG workersUnsatisfactory compensation is the reason that more than half of employees in Singapore are planning to leave their jobs within the next two years, a survey conducted by recruitment agency Randstad among 4,500 white-collar workers has revealed.

The surveyed employees said that they feel that they have helped their companies through tough years, and with the outlook for the Singaporean economy now being more positive, they want their efforts to be recognised or they will leave.

Singapore has delivered dire economic data over in the past as industrial output slumped and weaknesses were seen across a range of industries including electronics, precision engineering and biomedical.

The wealthy city state closely avoided recession in the fourth quarter of 2012. The Ministry of Trade and Industry has said it expected the Singapore economy to grow by 1 per cent to 3 per cent in 2013, figures which are slightly better but are not really indicating a rebound. The World Bank expects Singapore to grow 2 per cent in 2013 and recover in 2014 with a growth outlook of 4 per cent.

The Randstad survey however found that about a third of the employees in the sample will stay with a company if it offers long-term job security, competitive salary and benefits.

Singapore, which has long attracted talented foreign workers, now said it will cut the quota for foreign job-seekers and impose higher levies on companies that hire low-skilled foreigners

Immigration has become an increasingly prominent issue in Singapore, with local residents vocally complaining of the high number of migrants entering the city state in recent years and allegedly pushing up the cost of living and the price of real estate.

The country’s finance minister stated that foreign workers and immigrants now account for more than one third of the total workforce and the government needs to improve job prospects for the native population.

Quotas on foreign workers will most impact the services and marine sectors, including restaurants, retail shops and marine engineering firms, economists said.

 

 

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