Discussion about brain drain in Singapore, Hong Kong SAR and Malaysia has gone unabated for years. With Randstad’s latest findings showing that employees in the three markets being more willing than the global average to emigrate for a job, brain drain should be a cause for major concern.
Randstad’s latest Workmonitor research for Q2 revealed that over six in ten employees (61%) in Singapore, Hong Kong SAR and Malaysia would be willing to emigrate for a job that is not available in their market. This was significantly higher than the global average of 50%.
malaysians most likely to resign to pursue a new opportunity
When looking at specific markets, employees in Malaysia were the most likely (66%) to leave their market for a career opportunity, compared to Hong Kong SAR employees which were the least willing with 56% looking to do the same.
men and youths more open to new career opportunities
Demographic variations were also discovered with men being more likely than women to emigrate for a job, and employees aged between 18 and 34 also being much more willing than other age groups to move for a career opportunity not available in their market. The demographic the most willing to move were male employees based in Malaysia aged between 25 and 34.
Managing Director for Randstad Singapore, Hong Kong SAR and Malaysia, Michael Smith noted, “Brain drain is as relevant as ever and the rapid evolution of technology is leaving companies around the world scrambling for skilled talent. Our Workmonitor results have shown that employees in the region have clearly understood this and are more willing than ever to consider options outside of their markets.”
“The war for talent is being fought on multiple fronts, between organisations and between markets. Organisations need to be ever vigilant with their top talent, even if they have the best offerings compared to their competitors, overseas opportunities may still be stronger, potentially drawing their workforce away,” added Smith.
I would be willing to emigrate for a job that’s not available in my market (%)
about the Randstad Workmonitor
The Randstad Workmonitor was launched in the Netherlands in 2003 and now covers 34 markets around the world, encompassing Asia Pacific, Europe and the Americas. The Randstad Workmonitor is published four times a year, making both local and global trends in mobility regularly visible over time. The Workmonitor Mobility Index, which tracks employee confidence and captures expectations surrounding the likelihood of changing employers within a six month time frame, provides a comprehensive understanding of job market sentiments and employee trends. In addition to measuring mobility, it provides insights into employee satisfaction and personal motivation, as well as explores sentiments around key trends shaping the world of work for employees each quarter. The quantitative study is conducted via an online questionnaire among a population aged 18-65, working a minimum of 24 hours a week in a paid job (not self-employed). The minimal sample size is 400 interviews per market, using Survey Sampling International.
about Randstad
The Randstad Group is a global leader in the HR services industry and specialises in solutions in the field of flexible work and human resources services. Our services range from regular temporary Staffing and permanent placements to Inhouse Services, Professionals, and HR Solutions (including Recruitment Process Outsourcing, Managed Services Programs, and outplacement). By combining our human touch with technology-driven solutions and tools, we aim to offer both clients and candidates the best tools and solutions for increased efficiency and engagement, connecting more people to more jobs. Randstad has top-three positions in Argentina, Belgium and Luxembourg, Canada, Chile, France, Germany, Greece, India, Italy, Mexico, the Netherlands, Poland, Portugal, Spain, Sweden, Switzerland, the UK, and the United States, and major positions in Australia and Japan. At year-end 2016, Randstad had 36,524 corporate employees and 4,752 branches and Inhouse locations in 39 markets around the world. In 2016, Randstad generated revenue of €20.7 billion. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the NYSE Euronext Amsterdam, where options for stocks in Randstad are also traded.