Local finance professionals believe gaining overseas experience has become equally as important as career progression opportunities.
According to a survey by Robert Half, 26% of 150 local chief financial officers (CFOs), chief operations officers (COOs) and finance directors (FDs) chose global opportunities as a strong motivator, followed by title or career progression (25%) and reduced working hours (23%).
“Banking and financial services companies in Singapore are globally interconnected with major markets in the world, so it makes sense for Singapore employees to want to get experience in as many markets as they can,” Stella Tang, director of Robert Half Singapore, said.
The number of Singaporean finance professionals eager to work internationally is above the global average of 17%, and are also ahead of figure reported in Australia (23%), Hong Kong (22%) and the UK (6%).
Additionally, according to Ambition’s latest Market Trends & Salaries Report, 77% of Singaporean professionals in accounting, marketing, banking and contract roles are willing to relocate overseas, including 70% of senior management.
Paul Endacott, managing director at Ambition South East Asia, said junior and mid-management employees remain eager to shift overseas, with career progression being the “overwhelming” reason behind this.
Tang said Singapore’s standing as a financial hub and the headquarters of several MNCs allows companies here to provide international work experience to staff.
“Affording employees global opportunities and offering challenging assignments where they are enabled to develop, grow and succeed will not only help companies to retain talented staff but also attract new employees when it’s time to hire,” she said.