Candidate expectations in Singapore have changed since the COVID-19 pandemic
Over three in five jobseekers in Singapore are willing to settle for a lower salary just to secure a new job.
This showcases the shift in candidate expectations due to the pandemic. In pre-COVID times, a fat pay package was top of mind for professionals when looking for a new job.
According to this new study, it suggested the resulting weaker labour market conditions, especially as the number of unemployed individuals increases and the number of available jobs in the market drops.
READ MORE: 1 in 2 employees actively looking for new job
However, jobseeker expectations differ greatly by industry, found Randstad.
“Jobseekers with prerequisite skills and experience in high demand areas, such as technology and research & development, will be able to negotiate for a higher salary when switching employers,” said Jaya Dass, managing director, Malaysia and Singapore at Randstad.
“However, individuals whose employment has been impacted by the pandemic are encouraged to keep an open mind, as having a lower salary can still provide a level of income stability during such trying times.”
The shift in expectations will also likely be seen in fresh graduates and mid-career switchers looking to enter a new industry or start a career that is unrelated to their past accumulated work experience, said Dass.
They are likely to adjust their salary expectations to make up for the lack of required skills and experience to meet job expectations, in line with the increasing unemployment rate and ongoing recession.
READ MORE: Revealed: Top companies hiring during COVID-19
Reskill to remain relevant
Regardless, the “lack of experience” or expertise isn’t holding jobseekers back — Randstad also found that 86% of professionals are motivated to re-skill and upskill in the next 12 months to remain relevant.
About half (55%) said they’re doing so to be prepared for automation and digitalisation, while 19% are looking to switch careers or the industry they work in. About 16% are keen on training opportunities for fear of losing their jobs due to redundancies.
This is unsurprising, said Dass, as people tend to plan for the worst-case scenario, especially during a ‘prolonged’ crisis such as the ongoing pandemic.
“Employees are also harbouring greater expectations for their employers to help guide their career development, specifically what type of skills to acquire and how to build their digital capabilities in the ‘new normal’,” she said.
“Employers should strive to meet the employees’ expectations and elevate the quality and readiness of their workforce to prevent a further widening of the skills gap.”
