According to a study conducted by Workday, 68% of Singaporeans are confident they have the right skill-set to thrive in digital economy. This is followed by Australia and Malaysia which both tied at 63%.
The study was based on a survey with over 1,400 employees in eight countries across the region: Singapore, Australia, Hong Kong, Japan, New Zealand, Malaysia and Thailand.
A majority of Singapore employees (82%) see better career prospects because of the digital economy. Additionally, around three quarters (74%) of respondents say they expect a high impact of technology in the workplace.
In light of that, one in two employees in Singapore see digitalisation as a threat to their jobs, one of the highest in the region, after Korea (62%) and Hong Kong (57%). This could be attributed to how almost half of Singapore employees (49%) feel their managers are not proactively engaging them about digitalisation to future-proof their careers.
Singapore employees have the highest expected turnover rate in Asia Pacific where 46% are likely to leave their jobs within a year, followed by Malaysia (38%) and Australia (35%).
The main ‘pull factors’ for switching jobs in Singapore include:
- Better pay/rewards (26%),
- Better career prospects (15%)
- Better work-life balance (13%)
Meanwhile, the main ‘push factors’ are:
- Lack of career prospects (16%),
- Being underpaid (15%)
- Not enjoying the work that they do (13%)