Singapore’s brain drain rate is higher than the global average.
Six in ten Singaporeans are willing to leave the country in pursuit of a better job, the latest Randstad Workmonitor research showed.
The study revealed that the brain drain rate in the Lion City is higher than the global average of 50%. It is also higher than Hong Kong's rate of 56%, but slightly lower than Malaysia's 66%.
Moreover, 66% of male respondents were willing to emigrate, plentier than 55% of their female counterparts.
Meanwhile, 68% of employees in the age range of 18 to 34 years old are willing to leave the country. They have fewer counterparts in the 35 to 54 age range with 57%.
According to the study, this implies the growing significance of brain drain and the struggle of companies to look for talents as technology evolves. Employees “have clearly understood this” and are now looking to consider work outside their countries.
Randstad Singapore managing director Michael Smith said the war for talent is being fought on multiple fronts, between organisations and between countries.
“Organisations need to be ever vigilant with their top talent, even if they have the best offerings compared to their competitors, overseas opportunities may still be stronger, potentially drawing their workforce away,” he noted.
Do you know more about this story? Contact us anonymously through this link.