PwC’s Global Workforce Hopes and Fears Survey 2024 - Singapore highlights

Change is everywhere and employees are feeling it. This year, we surveyed 1,000 employees in Singapore to understand their attitudes and sentiments towards work. Part of the Global Workforce Hopes and Fears Survey which captured responses from nearly 56,000 workers in 50 countries and territories, many say they are prioritising long-term skills growth to accelerate their careers amid rising workloads and heightened workplace uncertainty.

In the last 12 months, nearly half of workers surveyed (47% in Singapore vs 45% globally) say they have experienced rising workloads and an accelerating pace of workplace change. Over two-thirds in Singapore (68% vs 62% globally) say they have experienced more change at work in the past year than the 12 months prior, with over two-fifths (44% in Singapore vs 40% globally) noting their daily responsibilities have changed to a large or very large extent. More than half in Singapore (54% vs 44% globally) don’t understand the purpose of changes taking place, suggesting a workforce caught between today and tomorrow.

In the midst of this growing mix of employee pressures, the findings suggest workers are alert to opportunities elsewhere, and are highly focused on skills growth and embracing AI.

A third in Singapore (34% vs 28% globally) say they are likely to switch employers in the next 12 months, a percentage far higher than during the ‘Great Resignation’ (21% in Singapore vs 19% globally) of 2022. Majority of Singapore respondents (72% vs 67% globally) who are considering moving say skills is an important factor in their decision to stay with their current employer or switch to a new one.

As employees face heightened workplace pressures, they are also turning to new and emerging technologies such as GenAI to help. Among those employees who use GenAI daily, over six in 10 Singapore respondents (65% vs 82% globally) expect it to make their time at work more efficient in the next 12 months.

Employees are also optimistic about opportunities for GenAI to support their growth. Close to six in 10 of all users surveyed in Singapore (59%, vs 49% globally) expect GenAI to lead to higher salaries – an expectation that’s even higher (81% in Singapore vs 76% globally) among employees who use the technology daily. Meanwhile, over eight in 10 users agree that GenAI tools will create opportunities to be more creative at work (84% in Singapore vs 73% globally) and improve the quality of their work (83% in Singapore vs 72% globally).

More than half (56%) of all employees surveyed in Singapore moderately or strongly agree that their employer provides adequate opportunities to learn new skills that will be helpful to their careers; this is slightly ahead of their global counterparts at 46%.

Employees who are likely to leave in the next year may be more attuned to skills changes that are needed than the general workforce, over half (55% in Singapore vs 51% globally) moderately or strongly agreeing that the skills their job requires will change in the next five years compared to those unlikely to change employer (36% in Singapore vs 29% globally).

There is particular interest in the impact of AI on skills development, with 84% of Singapore respondents (vs 76% globally) expecting it to create opportunities to learn new skills at work. However, employers will need to invest heavily in new and emerging technology training and access. Among employees who have not used GenAI at work in the last 12 months, less than one-third in Singapore (28% vs 33% globally) don’t think there are opportunities to use the technology in their line of work, while 34% (24% globally) don’t have access to the tools at work, and 24% (23% globally) don’t know how to use the tools.

Amid the pace of change, around six in 10 (63%) Singapore workers expressed at least moderate job satisfaction which is similar to the 2023 survey findings (at 66%, vs 60% globally which went up from 56% in 2023). Cost-of-living pressures have shown to eased since 2023. The proportion of workers in Singapore with money left over each month has risen to 65%, up from 44% in 2023 (globally 45%, up from 38% in 2023). Meanwhile, a third of workers surveyed in Singapore (34%) say they are still financially stressed to some degree, a lower percentage compared to their global counterparts (52%).