According to a survey, work-life balance tops the list, with professional development coming in among the top five.
A four-part survey by Reeracoen in July and August 2023 sought to reveal the expectations and career plans, considering the evolving changes in Singapore's economy.
As found in the first part of the survey, titled What Singapore workers want, 47% of the 293 respondents involved expressed a strong desire for work-life balance; while remote work (26%) came in second, followed by four-day workweeks (19%), and professional development (8%).
Backing these findings were the second edition of the survey involving 424 respondents, in which work-life balance remained the top choice for respondents, cited by 57% of respondents. Interestingly, however, money overtook remote work here, with 25% of the respondents citing it as a top motivation, followed by remote work (10%) and a four-day workweek (8%).
Coming to the third and fourth parts of the survey, a group of respondents were asked about their salary expectations, while the next group was asked if they were considering a job switch before the year ends.
Of these, the following findings were highlighted:
- Out of 425 respondents, 54% desired a 6% to 10% increase in salaries this year. Meanwhile, 28% expected a 1% to 5% raise, 13% expected their salary to remain the same, and a small percentage anticipated a pay cut (5%).
- Looking at job switches, out of 445 respondents, a majority (73%) expressed their intent to change jobs, and the remaining respondents answered 'no' (12%), 'maybe' (12%), and 'I don't know' (3%).
Commenting on the findings, Reeracoen's Group CEO Kenji Naito stated that the surveys seem to indicate that when Singapore workers consider employment, time, and monetary rewards are the main factors.
"The Singaporean workforce's aspirations for better work-life balance and enhanced financial remuneration reflect the pressing need for companies to foster employee well-being and offer competitive compensation packages," he added.