Singapore’s job market is set for significant movement over 2025, as new research from global talent services company Morgan McKinley reveals that 55 per cent of Singaporeans plan to actively search for a new job in the next six months. This trend signals an increasingly competitive hiring landscape, as 50 per cent of hiring managers also anticipate recruiting during the same period.
The research, part of Morgan McKinley’s 2025 Salary Guide, highlights a critical challenge for employers: the escalating difficulty in securing top talent. A staggering 80 per cent of employers reported losing out on candidates in the past six months due to their inability to compete on salary and benefits packages. Additionally, 85 per cent of organisations in Singapore found hiring ‘Very’ or ‘Quite’ competitive in 2024. Employee satisfaction with benefits remains low, with 63 per cent of professionals stating they are ‘neutral,’ ‘dissatisfied,’ or ‘highly dissatisfied’ with their current offerings.
Whilst flexibility remains a key priority for professionals, many Singaporean companies are shifting toward more in-office work. Currently, only 15 per cent of organisations allow 1-2 remote workdays per week, 39 per cent require employees to be in the office 3-4 days a week, 35 per cent mandate full-time office attendance and 11 per cent offer fully remote options. Notably, 61 per cent of organisations have increased in-office requirements compared to the previous year, which may create friction with employee expectations.
Compensation remains a major factor in attracting and retaining talent. In the latter half of 2024, 60 per cent of organisations kept salary bands static, making it harder to attract new hires. Over the year, 56 per cent of employers plan to increase salary offers for hard-to-fill roles, indicating a necessary shift in compensation strategies. However, professionals remain cautiously optimistic, with 50 per cent expecting a pay increase in 2025.
“The Singapore job market is currently experiencing a period of intense competition for talent,” said Andrew Evans, Chief Operating Officer, Morgan McKinley, Asia Pacific. “Our research clearly shows that a significant portion of the workforce is actively seeking new opportunities, and employers are facing considerable challenges in attracting and securing the right candidates.”
Evans continued: “Organisations in Singapore must adapt to evolving expectations of professionals. A failure to offer competitive salary and benefits packages, coupled with a lack of desired flexibility, will inevitably lead to missed hiring opportunities. We anticipate that companies that strategically adapt their compensation and workplace policies to align with employee demands for transparency, flexibility and career growth will be best positioned to thrive in this dynamic market.”
The Morgan McKinley 2025 Salary Guide will provide up-to-date and accurate salary data for a wide range of roles across Singapore, equipping hiring managers with essential industry benchmarks for compensation decisions and offering professionals greater clarity on their earning potential.
Research from 530 businesses and 2751 professionals was conducted to ascertain companies’ hiring intentions for 2025, the primary drivers for job changes, and salary increase expectations.
For the Morgan McKinley Singapore 2025 Salary Guide, visit: https://www.morganmckinley.com/sg/salary-guide?utm_source=morganmckinley&utm_medium=media-pr&utm_campaign=salaryguide2025&utm_content=insightssurvey2025
