Despite a cooling job market in Singapore, many working professionals are actively looking for new employment opportunities. But is it the right move for you? The following are just some of the reasons why you might want to consider a job search in Singapore. After all, while the market might be tough, there’s always a chance to snag a new job or pivot to a more lucrative field by making a mid-career switch.
#1 Higher wages
With the increase in GST and a general rise in the cost of living in Singapore, higher wages are some of the most attractive reasons for those on a job search in Singapore. While many companies here offer a 3% annual increment to account for inflation, this often isn’t enough to keep up with rising prices. The salary comparison tool provided by the Ministry of Manpower is a useful website that can help you gauge just how well you’re being remunerated.
#2 Remote working opportunities
Remote work and working from home are game-changing policies that offer flexibility and freedom from stressful and crowded daily commutes on public transport. In addition to saving time and money, you can apply for jobs anywhere in the world without moving. In a post-pandemic world, remote working has also become increasingly acceptable. It can also be particularly attractive for working parents or anyone who needs to handle family duties or personal errands without stress.
#3 Better work-life balance
Another popular reason for a job switch is the pursuit of a healthier work-life balance. Depending on the company you work with, you might be expected to answer emails outside of office hours or find yourself regularly taking work home. Chasing a better work-life balance is key to staying happy and healthy. Finding a new job with flexible hours and good time-off policies can help you avoid burnout and feel less stressed.
#4 Mid-career switches
The job market in Singapore is continuously evolving, and careers that were once lucrative might no longer be in as much as demand. This can be due to a variety of factors including AI and automation. According to a Ministry of Manpower report published in December 2023, the jobs most in demand in Singapore are software, web and multimedia developers as well as data scientists in the communications technology sector. If you’re looking to make a mid-career switch to a completely different industry, there are also plenty of available courses meant to upskill employees of all ages.
#5 Employee benefits
With medical costs in Singapore rising, workplace health insurance has become even more valuable. If you’re on a job search in Singapore, in addition to the above factors, it’s worth considering the level of coverage provided by workplace insurance. While emergency hospitalisation benefits are usually covered, some companies offer additional benefits including coverage for private healthcare, doctor’s visits and even complementary healthcare like physiotherapy and occupational therapy.
For more information on the latest employee benefit trends across the world, read Pacific Prime’s free Global Employee Benefits Trends Report 2024.
Written in collaboration with:
Pacific Prime CXA
