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Does the digital economy offer better career prospects? 82% say yes

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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.

ALSO READ: 37% of Malaysians feel they do not possess the right skills for digital economy

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%)

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