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  • Singapore Workforce Trends 2026: Job Hugging, Emotional Salaries and the Death of 9-to-5

    Singapore Workforce Trends 2026: Job Hugging, Emotional Salaries and the Death of 9-to-5

    Recent data from the international payroll and HR platform, Deel, has highlighted five emerging trends that are set to significantly influence Singapore’s work culture and employee decision-making processes by 2026. These findings present a significant shift in the current landscape, challenging employers to rethink strategies surrounding talent retention, workspace design, and compensation.

    Decrease in Job Switching

    Singapore’s workforce has recently observed a notable decline in the frequency of job switching. This rising preference for maintaining a steady career, termed “job hugging,” is not fueled by employee loyalty but rather by a careful approach to career stability. Given the current state of economic unpredictability, workers are beginning to prioritize job security over swift career progression.

    Increasing Importance of Emotional Salary

    With the growing strain on standard pay packages due to inflation and budget constraints, employers are starting to focus on “emotional salary” to attract and retain talent. This concept encompasses various aspects such as recognition, flexibility, autonomy, purpose, and opportunities for personal development. Statistics highlight this trend, showing that only 13% of employees believe their salary has maintained pace with inflation, while 79% desire more flexible payment schedules, and 54% seek greater control over their compensation structure. This data indicates a workforce that values emotional and financial well-being as much as monetary compensation.

    Adoption of Microshifting

    Traditional 9-to-5 workdays are evolving into a more adaptable model through the concept of “microshifting.” This model allows employees to segment their workday into shorter, concentrated periods of work that align with their energy levels and personal needs, ranging from rest to exercise to caregiving. The outcome is a more flexible, productivity-centered work rhythm.

    Shift Towards Conscious Unbossing

    “Conscious unbossing” is a new trend where employees, particularly Gen Z, are consciously moving away from managerial roles to prioritize balance, autonomy, and wellness. This gradual shift is leading employers to reconsider their leadership succession plans as fewer employees express interest in climbing the corporate ladder.

    Rising Career Pressures

    The surge of polished success narratives on professional networks is amplifying what is known as “LinkedIn envy,” a phenomenon where employees grapple with feelings of inadequacy by constantly comparing themselves to others. As career achievements become more public, the emotional pressure escalates, reminding employers of the increasing correlation between psychological well-being and career contentment.

    Forecast for Singapore’s Talent Landscape in 2026

    These emerging trends suggest that employees are reshaping their definition of success and adjusting their expectations of employers. Organizations can seize this opportunity by accommodating these changing priorities through enhancing emotional and financial support, modernizing payroll systems, and overhauling the employee experience from its very foundation.

    Karen Ng, the Regional Head of Expansion, Enterprise, North and South Asia at Deel, explains, “In Singapore, the traditional career path is undergoing a transformation process as employees navigate not only economic turbulence but also evolving personal priorities. The trend of employees ‘hugging’ their current roles due to a yearning for stability is on the rise. When employees feel financially stable and emotionally supported, they are not only more likely to stay but also more likely to positively contribute to organizational growth.”

    Questions & Answers

    What is “job hugging”?
    Job hugging refers to the trend of employees opting to remain in their current roles rather than seeking new opportunities. This trend is driven by a desire for stability and predictability in uncertain economic times.

    What is “emotional salary”?
    Emotional salary refers to non-monetary benefits used to attract and retain talent. This can include recognition, autonomy, purpose, flexibility, and personal development opportunities.

    What is “conscious unbossing”?
    Conscious unbossing is a trend where employees, particularly from Gen Z, are intentionally stepping away from management tracks in pursuit of balance, autonomy, and well-being.

  • Fresh Private University Graduates in Singapore Now Enjoy Monthly Salaries Exceeding $2,700

    Fresh Private University Graduates in Singapore Now Enjoy Monthly Salaries Exceeding $2,700

    Recent findings from the Private Education Institution Graduate Employment Survey 2023/2024 reveal that graduates from Parkway College of Nursing and Allied Health and ERC Institute boast the highest median monthly pay, hitting S$4,000. They are closely followed by graduates from the Singapore Institute of Management who earn an average of S$3,600, according to The Business Times.

    Insights By Field of Study

    When dissecting salaries by field of study, information and digital technologies emerge as the frontrunners with a median salary of S$4,080. In contrast, humanities and social sciences graduates are not far behind, averaging S$3,500. Sadly, data for engineering and arts graduates are unavailable due to small sample sizes.

    Survey Scope and Participants

    The survey, conducted from November 2024 to March 2025, gathered insights from approximately 3,500 recent graduates of 27 private institutions, including reputable names like James Cook University, PSB Academy, and the Management Development Institute of Singapore.

    Notably, of those surveyed, about 2,300 were actively engaged in the labor force. SkillsFuture Singapore, the body behind the survey, aims to foster lifelong learning and skills development across the nation.

    Comparison with Autonomous Universities

    For a broader context, fresh graduates from autonomous universities such as Nanyang Technological University and the National University of Singapore launched their careers with a median monthly salary of S$4,500 in 2024. Meanwhile, post-national service polytechnic graduates began at S$3,000, as reported by an earlier joint survey highlighted by The Straits Times.

    Challenging Job Market

    Despite a slight increase in median salaries, job prospects for fresh graduates from private institutions stiffened in 2024, reflecting the challenges of a decelerating economy and muted hiring demand, according to insights from Mothership. Only 46.4% managed to secure full-time roles, a drop from 58.7% in 2023. Part-time or temporary jobs rose to 24.2%, up from 18.9%, while the freelance segment shrank from 5.7% to 4.2%.

    Course Clusters and Employment Rates

    Among the various course clusters, engineering led the way in full-time employment, boasting a rate of 55.3%, followed by sciences at 51.8%. Conversely, graduates from autonomous universities enjoyed significantly higher full-time employment rates at 79.5% compared to 65.2% for their polytechnic peers.

    Valuable Insights for Future Graduates

    Angela Tan, director general for private education at SkillsFuture Singapore, stated that this survey offers essential insights to help prospective students navigate their educational and career choices. She acknowledged the backdrop of global economic uncertainty but highlighted an array of resources and learning opportunities that SkillsFuture provides to empower Singaporeans in achieving their career goals.

    “In today’s complex job environment, informed choices based on industry-relevant skills can make all the difference,” she said, adding a splash of hope amidst the uncertainty.

    Questions & Answers

    What was the median salary for graduates from Parkway College of Nursing and Allied Health and ERC Institute?
    Those graduates earned a median monthly salary of S$4,000, the highest among private institutions.

    What percentage of graduates from private institutions secured full-time employment in 2024?
    Only 46.4% of these graduates landed full-time roles, a notable decrease from the previous year’s 58.7%.

    Why is the Private Education Institution Graduate Employment Survey important?
    The survey provides valuable insights that can guide prospective students in making informed decisions about their educational and career trajectories, particularly in light of current economic challenges.

  • Vietcombank Remittance named best remittance company in Vietnam

    Vietcombank Remittance named best remittance company in Vietnam

    Vietcombank Remittance was honored as “Remittance Company of the Year – Vietnam” for the third consecutive time by Asian Banking & Finance on Dec. 24.

    This achievement affirms the quality of services and the growth of Vietcombank Remittance, recognizing the company’s efforts and demonstrating its position in both the domestic and international remittance markets.

    Vietcombank Remittance is the only remittance company in Vietnam to organize the Client Conference for three consecutive years successfully. This year’s event featured participation from strategic partners in Taiwan, South Korea, the United States, and several other countries, highlighting the company’s role in fostering international cooperation and collaboration.

    The company consistently supports government agencies in developing policies to enhance remittance resources. Vietcombank Remittance actively participates in programs organized by the Overseas Vietnamese Committee of Ho Chi Minh City to promote collaboration among stakeholders and increase the efficiency of remittance flows. The company has also significantly contributed to Ho Chi Minh City People’s Committee’s project on “Optimizing the Effectiveness of Remittance Resources.”

    Vietcombank Remittance is committed to collaborating with the Ho Chi Minh City People’s Committee to implement specific initiatives such as supporting the improvement of policy mechanisms and facilitating convenient conditions for overseas Vietnamese to send money home. It collaborates closely with regulatory agencies to create clear legal frameworks and facilitate the use of technology in remittance operations.

    The company is leading initial efforts to establish the Vietnam Remittance Association to elevate the industry’s position on the international stage. This association is expected to serve as a bridge between the government, businesses, and the overseas Vietnamese community, ensuring policies are geared toward sustainable development.

  • Officeworks staff vote for Increased Salaries

    Officeworks staff vote for Increased Salaries

    Officeworks staff have approved a new Store Operations Agreement that will introduce higher base pay and penalty rates and new leave entitlements for eligible team members.

    More than 80 percent of staff participated in the vote, which closed on Sunday night, with 97 percent voting in favor of the new Agreement, according to a release from Officeworks.

    “The new Agreement sees over-award terms and conditions retained, with improved conditions for both part-time and casual team members when it comes to securing work,” the Wesfarmers-owned retailer said in the release.

    As part of the four-year agreement, eligible team members will receive a 2 percent wage increase for the first two years and a 3 percent wage increase for the last two years, with the base pay rate continuing to clock in above the award. They will also be paid higher penalty rates on weekends and evenings.

    Team members will also be able to choose their superannuation fund, and they will be provided with two days of paid domestic and family violence leave.

    Officeworks’ new leave entitlements follow the introduction of its ‘Growing Families’ policy in March, which saw primary carers receive 12 weeks of paid leave, double the amount they received previously, and secondary carers receive two weeks of paid leave, where none was available before.

    It also entitles primary carers to 52 weeks of superannuation contributions and long-service-leave accrual, and secondary carers to two weeks of superannuation contributions.

    “Providing certainty about pay and conditions for our team members so that they can plan their work and life more effectively is important to us and has been an absolute priority for me and my team,” Sarah Hunter, Officeworks managing director, said in the release.

    “I’m really excited that our team has overwhelmingly voted in favor of this Agreement. It’s such an exciting time at Officeworks and creating more stability for our team members will help us make bigger things happen together moving forward.”

    The Agreement will now be lodged with the Fair Work Commission for approval; however, the retailer said yesterday that it would immediately increase the base pay rate by 2 percent for all team members covered by the agreement.

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  • Vietnam’s high demand for IT professionals shoots up salaries

    Vietnam’s high demand for IT professionals shoots up salaries

    The country could become one of the next outsourcing hubs for software development, industry players said.

    Vietnam’s growing information technology (IT) is seen driving recruitment demand and boost salaries for tech jobs, a recent survey found.

    As many as 81 percent of IT companies said they planned an annual payroll rise of between 6 percent and 20 percent this year, professional recruitment firm VietnamWorks said in the survey conducted late last year with thousands of IT professionals, specialists and companies.

    The industry’s job demand is higher than ever, and the trend will continue over the next years, the survey said.

    The number of tech jobs has doubled over the last three years, VietnamWorks data showed, adding that Vietnam currently has around 250,000 engineers, but will need more than 400,000 by the end of 2018.

    Experienced software developers and managers continue to be in high demand, said the survey.

    Salaries have increased significantly in recent years and many companies have even offered generous bonuses to attract and retain employees.

    Up to 80 percent of the jobs that requires IT professionals with at least two years experience would pay a maximum $1,160 per month, said the survey.

    Vietnam first began offering software development services 15 years ago as global companies started to look outside India for a low-cost technology outsourcing opportunities.

    NeoIT estimated Vietnam’s IT labor costs are 40 percent less expensive than in China and India. A.T. Kearney’s Global Services Location Index and KPMG Advisory forecast Vietnam will be one of the next outsourcing hubs for software development.

    Local technology companies, however, are increasingly diversifying into other services, said the survey, adding this will drive recruitment for specialists in other fields such as business intelligence and information security.

    Currently, software engineers with at least two years of experience are still in highest demand, according to VietnamWorks.

    In terms of high tech development, Ho Chi Minh City is to Hanoi what Silicon Valley is to Seattle. But Hanoi tech scene is growing amid more intense competition in the southern hub.

    Ho Chi Minh City still remains the country’s IT hub with 53 percent of the country’s recruitment demand. Hanoi accounted for 43 percent and the central city of Da Nang took up 4 percent, according to the survey.

    Experts forecast a growing demand for specialist in cloud computing, big data, business intelligence and information security.

    The IT industry’s significant trends in 2017 will drive recruitments for professionals in big data, VietnamPlus cited Vinh Nguyen, an executive from PYCO Group, as saying.

    The survey revealed that 44 percent of the respondents said they would consider changing jobs with a better salary and benefits on offer.

  • Vietnam’s bank CEOs receive sky-high salaries

    Vietnam’s bank CEOs receive sky-high salaries

    Meanwhile, the managers at VP Bank receive twice as much as Vietcombank’s managers, about VND3.6 billion if the bank can fulfill the business plan. At ACB, the average level for key personnel is VND530 million a year.

    Vietnamese banks are more generous, accepting to pay billions of dong a year to their key personnel.

    VP Bank is believed to lead the banks in pay to members of the board of directors and supervisory board. Shareholders agreed to pay one percent of pretax profit, or VND32 billion to the members if the bank can make the pretax profit of VND3.2 trillion in 2016.

    There are nine members on the boards, which means that if the business plan can be fulfilled, each of the members can receive VND3.6 billion a year.

    Techcombank also promises attractive awards to the managers. Its shareholders approved the pay of VND29.54 billion in 2016 to the board of directors and supervisory board. With 11 members, each of them expects to receive VND2.6 billion this year.

    With satisfactory business result, Vietcombank’s shareholders approved the pay of VND1.9 billion for every member of the boards in 2015.

    The bank has consulted with shareholders about the pay equivalent to 0.35 percent of post-tax profit to the members of the boards in 2016, while the bank plans the pretax profit of VND7.5 trillion. This means that if the business plan is fulfilled, the pay would be VND2.3 billion.

    Meanwhile, Maritime Bank plans a little bit lower pay for the members of the boards, at VND16 billion. Every of nine members expects to get VND1.7 billion in 2016.

    Orient Bank plans a relatively modest pay to its key personnel with the budget of VND8.2 billion only for the members of the board. However, the figure is still higher by VND1.2 billion than the last year.

    Nam A Bank plans to pay VND18 billion to 18 members of the boards in 2016, the level which some shareholders think is too high icompared with the dividend of 5 percent paid to shareholders in 2015.

    Banking is the business field which offers high pay to staff.

    A report of Navigos Search showed that the two positions which received the highest pay in the first three months of the year were the senior executive of a joint stock bank and a service company. Each of them got over VND200 million a month.

    The following positions were ones in the fields of healthcare, service, trade and bank.

    Meanwhile, the managers of state-owned conglomerates, keep complaining that the pay is unreasonably low which cannot reflect the effective business performance of the enterprises.