Why switching jobs could be the best option for you
Estimated Read Time: 4 minutes
If you’ve found yourself asking, “should I switch jobs?”, know that it’s a normal part of today’s professional landscape. Contrary to popular belief, it’s not always a sign of unhappiness. In fact, it is often pondered by the happiest candidates – those who are confident, ambitious and forward thinking.
If you’re considering a change, you’re not alone.
Research by Linkedin reported that 34% of Singaporean professionals have no intention of staying with their current employers for more than a year. This is well above the global average of 26%, making Singapore one of the world’s most career mobile workforces.
Conversely, data also shows that Singapore workers are the least confident in gaining access to, and pursing their desired opportunities.
As Singapore navigates a volatile 2023 economy, uneasiness within the job market is understandable. Coupled with further economic downturn and media speculations of a recession, candidates are often dubious about whether now is the right time to ditch job security and chase career dreams.
But, it’s not all doom and gloom.
With Singapore facing an unprecedented skills shortage, the leverage lies with top talent. Despite today’s competitive market, the right candidates face an abundance of opportunity, making now a better time than you might expect to take the plunge.
In this blog, we explore the five reasons why Singapore workers should consider switching jobs as a strategic career move.
Expand your skill set
Once upon a time, job hopping was viewed as a sign of failure. Today, employers are a little more open minded, respecting the array of skills, experience and adaptability within complex career matrixes.
When asking yourself “should I switch jobs?”, consider how the move could sharpen your competitive edge. By taking on new roles and responsibilities, you’re poised to grow your competencies and navigate a variety of challenges – both of which, are viewed favourably by employers.
Career mobility is a strategic concept, especially as it allows one to explore Singapore’s burgeoning industries and long-term opportunities.
An example to consider would be Singapore’s technology industry. According to LinkedIn’s Jobs on the Rise study, technical and engineering roles dominate Singapore’s job market.
With a shift towards AI and a continued focus on digital and cyber-security across all sectors, tech-based roles including Cloud Engineers, Back End Developers and Cyber Security Engineers make up almost half of Singapore’s list.
So, whether you’re changing roles or even changing industries, remember that new skills can help to build a unique and well-rounded skill set that can be a valuable asset in our competitive market.
Build a diverse network
Globally, Singapore workers have the least confidence when it comes to gaining access to and, pursing desired professional opportunities. A 2018 Linkedin study suggested that a lack of strong networks is a major contributing factor
When asking “should I switch jobs?”, note that the associated networking can establish new connections while opening the doors to new opportunities and fresh insights.
Networking is fundamental to career advancement and job changes provide an opportunity to build a diverse network of professional contacts while gaining exposure to various cultures, workplaces, and perspectives.
A diverse network adds to one’s appeal within the Singapore job market and offers personal opportunities for collaboration, mentorship and new career pathways.
Enhance your marketability
Adaptability and agility are paramount in today's fast paced job market.
Employers gravitate towards candidates who display a proven track record for successful transition between different roles and industries. This versatility is what drives a candidate’s competitive edge and ongoing relevance in the job market.
So, when asking “should I switch jobs?”, consider how the switch can not only bolster your toolbox of skills, but even boost your market appeal.
Andrea Wong, Managing Director at Robert Half Singapore shares that self-awareness is imperative. “If you feel that advancement opportunities are limited in your current position, consider new career growth avenues. After all, it’s diverse CVs that employers value when seeking new perspectives and innovation in their business.”
Being career mobile displays a willingness to accept new challenges, learn new skills and adapt to new environments. It ultimately helps employees to future-proof their careers while adapting to the ever-evolving professional landscape.
Grow your earning potential
Financial considerations can be a roadblock for someone asking “should I switch jobs?” Leaving the security of a longstanding position can be tough, but have you considered how much of a salary hike to expect when changing jobs?
A greater earning potential follows the acquisition of new skills, expertise and exposure to different roles and industries.
Your professional diversity essentially becomes a negotiating tool that can command a higher salary and attractive benefits.
Upskilling and reskilling is crucial to maximising your earning potential. Identifying key growth sectors will help to build an action plan for the most lucrative career changes.
According to Mercer’s recently released Total Remuneration Survey (TRS), two Singapore industries are poised to have the highest 2023 salary growth:
- Banking and Finance (4.27%)
- Tech (4.06%)
Develop your personal growth
As the saying goes, “nothing good ever came from comfort zones.”
While switching jobs offers a plethora of professional benefits, the intrinsic benefits that come with exiting your comfort zone can be very empowering.
Andrea expressed that “new challenges, experiences, and ways of working, all offer valuable life lessons that build resilience, independence, and adaptability to change. This goes a long way both inside and outside the office.”
Personal growth is essential in helping individuals to thrive professionally and feel simultaneously fulfilled.
If you find yourself asking “should I switch jobs?”, it’s important to carefully consider your options. Remember that embracing new career opportunities can be a strategic move in the dynamic Singapore job market.
Being open to new roles and industries offers great potential for career advancement. From expanding your skill set and professional network to enhancing your marketability and earning potential, switching jobs is a key opportunity for personal growth and meaningful success.