Healthcare and tech sectors are the most desirable industries, according to respondents.
Singapore beat big economies such as Mainland China, North America, and Europe to become the top pick for relocation if given the option amongst global jobseekers, a study by firm RGF International Recruitment found.
With an average monthly income of $4,437, the study found that Singapore’s healthy environment for multinational corporations and its nurturing approach towards startups make it an alluring employment location for both locals and foreigners. The Lion City is the most popular relocation destination for working professionals hailing from Indonesia (38%), Thailand (34%), Malaysia (32.5%), Japan (30%), and India (29%).
In particular, the healthcare and life sciences and technology, and the tech, internet and telco sectors have been found to be the most desirable industries to work in. This, according to the report, comes as no surprise amidst the nation’s mandate towards digitalisation and the Ministry of Health looking to fill 300,000 positions.
Amongst the job-seeking talents in Singapore, six in 10 said that they were lured into the market due to financial compensation. Meanwhile, top calibre colleagues (13.8%) and career advancement opportunities (10.8%) were also cited as factors for trying to land a job in the Lion City. Additionally, the study found that whilst expats are willing to work in Singapore, Singaporeans are not keen to become expats except for those who want to try working in Mainland China (21%).
On the employer side, sentiments are highly positive when it comes to business growth and hiring plans as more than half (53%) were optimistic whilst 47% classified themselves as neutral about business growth. It is also the only country covered by the study with no respondents stating a pessimistic outlook.
“This optimism translates into aggressive hiring plans for 57.9% of local respondents, who aim to expand headcounts in the coming year,” the study said.
Despite their optimism on hiring and business growth, 84% of employers revealed that the struggle to attract key talent is still their biggest hiring challenge. Coming in a distant second and third place are company culture mismatch (12.4%) and low hiring budget (10%).
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