AVP Digital Product Manager | Driving Omnichannel Innovation with NAV Planner | Entrepreneur | NTU & NUS Alumna
Job hopping in Singapore has reached its lowest point in six years, reflecting a broader trend of economic uncertainty and reduced job opportunities. According to recent data, only 14.7% of workers changed jobs in the past two years, a notable decline from previous years. This trend is consistent across all age groups and industries, including both white-collar and blue-collar positions. The younger workforce, particularly those aged 25 to 29, remains the most active in seeking new opportunities, with 13.9% changing employers in the past year. However, older workers, especially those in their 50s and 60s, show much lower rates of job switching. This shift suggests a growing preference for job stability amid a tight labor market and economic uncertainties. Interestingly, the data reveals that many employees are now staying longer with their current employers. The percentage of workers with a tenure of less than one year decreased from 17.9% in 2022 to 16.4% in 2023. Additionally, about half of the workforce has been with their current employer for at least five years, with older employees often having tenures exceeding a decade. Factors contributing to this trend include increased emphasis on training, reskilling, and policies supporting older workers. However, training participation has declined, with only 43.5% of workers engaging in training in 2023, down from 49.1% in 2022. Despite the dip in job changes, the competitive nature of Singapore's job market persists. Looking ahead, both employers and employees are likely to remain vigilant for new opportunities, balancing the need for stability with the pursuit of career growth. Read more here: https://zurl.co/M5o8 #KugatharshineSelvarathnam #Jobshine #ShiningWithJobshine #BlueCollar #Jobs #SGWorkforce #FindASkilledJob #BlueCollarPride #Singapore #NonPMET
