SINGAPORE (Feb 18): Three in five Singaporeans are expecting their employers to perform better financially in 2020.
This comes as companies adopt new technologies that are more efficient and productive, according to the 4Q19 findings of the Workmonitor report released by recruitment firm Randstad on Tuesday.
The report captures the responses of around 400 employees aged 18 – 65 from Europe, Asia Pacific and the Americas to assess employee confidence, sentiment and their likelihood to change jobs within the next six months.
“Many companies are venturing into deep tech such as artificial intelligence, blockchain and data science. These investments and efforts by business will help create more jobs for Singaporeans,” says Jaya Dass, managing director of Randstad Singapore and Malaysia.
To this end, 63% of respondents are looking to receive a pay rise, while 69% expect a bonus at the end of the fiscal year.
These may have tipped the expectations of the younger generation who perform better with instant gratification and rewards, Dass observes. On the contrary, mature workers (aged 50 and above), should have more realistic expectations, having experienced the budget constraints in 2009, Dass adds.
Meanwhile, 60% of Singaporeans expect the economy to deteriorate this year. With the ongoing novel coronavirus affecting world trade and productivity, Singapore’s economy may well experience a contraction, in turn affecting job vacancies available and the bonuses paid out at the end of the year.