Jobs for life a thing of the past?

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Straight career paths are under scrutiny by employees in Singapore, Hong Kong and Malaysia.

According to Randstad’s latest Workmonitor Research for Q2 2017, 73% of employees globally felt that the ‘job-for-life’ was becoming extinct. This sentiment was much higher across the region with over eight in ten employees in Singapore, Hong Kong and Malaysia agreeing that life-long jobs no longer existed. Employees in Singapore and Hong Kong shared a higher sentiment, 83%, compared to those in Malaysia, 76%.

Surprisingly, younger employees in Singapore and Hong Kong were more optimistic about a job-for-life than their older counterparts, going against popular thinking that Millennials are the job-hopping generation.

Michael Smith, Managing Director, Randstad Singapore, Hong Kong and Malaysia noted, “Our Employer Brand Research showed that over a third of all employees are looking to leave their jobs in the next six months, making it even more important for organisations to do their very best at ensuring they are catering to their talent.”

The demise of lifelong jobs and careers could be attributed to the growing willingness of employees to move organisations and specialisations to define their own career paths based on their own requirements. With organisations having understood that the traditional career ladder has evolved into a career web, employees are often provided the opportunity to move laterally within their current companies with strong retraining programmes to boost retention of their best talent.

Smith added, “Many organisations are starting to take appropriate steps in ensuring that their employees are being provided opportunities for retraining and lateral movement. These lateral movements are highly beneficial for both the organisation and the employee, as it allows for fresh innovative perspectives, faster on-boarding and stronger retention rates.”

Employees who think that a “job-for-life” has become extinct (%)