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Young professional Singaporeans are not prepared to stay at the same level in their careers after spending up to two years in the same role.
And considering local employees are already feeling dissatisfied with their career progression, it could be worth re-looking at how you might be able to help young staff move up the career ladder sooner rather than later.
That is what 84% of fresh graduates and 73% of mid-career professionals (with 1-2 years of experience) in Singapore stated in a recent survey by LinkedIn.
Titled ‘Life of a Professional’, the study found the percentage of fresh graduates in Singapore who want a fast promotion was the highest in the region, followed by respondents from India (82%), Australia (76%) and Hong Kong (69%).
Providing employees with opportunities to grow was found to be crucial, as most professionals in Singapore also start looking for new jobs within two years of joining a company.
“Exactly half of the mid-career professionals (50%) in Singapore would consider moving to another job within two years, aligned with the Asia Pacific3 figure of 51%,” the report stated.
“This two-year job mark also resonated with the fresh graduate set, with 54% open to a job switch within two years of working.”
Higher pay, better career opportunities and more recognition were, however, found to be the most effective ways to increase talent retention rates for mid-career professionals in the country.
Fresh graduates said that in addition to higher salary (84%) and better career opportunities (72%), colleagues played an important role (63%) and would convince them to stay in their current job.
“In Singapore, mid-career professionals (34%) said that their social networking contacts would be the most useful when moving jobs,” the report concluded.