A recent Asia-Pacific survey has revealed that Singapore-based employees are among the region’s “most anxious” about job security.
Employment Hero’s Talent Insights Report surveyed workers from Singapore, Malaysia, the UK, Australia, and New Zealand, with 49% of Singaporean respondents expressing insecurity in their current roles.
Younger workers felt more confident (only 40% felt insecure) compared to those over 55 (66%).
Men (55%) were overall more secure than women (48%).
The Ministry of Manpower has reported 850 retrenchment notices in Singapore since 2023 began, with a quarter coming from the Information and Communications sector and the wave of downsizing that has taken place among some of the biggest, global technology brands.
Anxiety around business growth may also contribute to job insecurity, with only 39% of employees confident in the current growth trajectory of their company.
Employers are advised to regularly meet with employees and be transparent about company challenges to provide a sense of security.