Over 4 in 10 workers search for better-paying jobs amidst escalating prices
Singaporean workers expect their financial situation to deteriorate this year.
In response to rising living costs, almost half of employees (47.25%) are planning to search for better-paying jobs in 2023.
Meanwhile, a higher percentage of employees (48.95%) plan to ask their employees for a pay rise.
"Inflation is a worry for most workers, and our research suggests they will push for higher compensation, with a significant number thinking about changing jobs in pursuit of a bigger paycheck," said Nishita Lalvani, marketing director for Indeed in India and Southeast Asia.
Based on Indeed’s survey, escalating prices are the greatest concern of more than seven in ten (72%) employees and given the situation, they expect their financial situation to deteriorate in 2023.
Employees particularly anticipate saving less (40.66%), not being able to save at all (16.78%), and even finding it hard to pay their bills (6.09%).