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Jobs for life an 'extinct' concept in Singapore: Randstad report
THE concept of a job that will last a lifetime has gone "extinct" in Singapore, according to a latest report by Randstad.
Its Workmonitor Research for Q2 2017 reported that 83 per cent of employees in Singapore felt that the "job-for-life" concept no longer existed, higher than the global average of 73 per cent. Asian rival Hong Kong was on a par with Singapore at 83 per cent, while Malaysia stood at 76 per cent.
More senior employees in Singapore and Hong Kong were also more pessimistic about jobs for life than their younger counterparts.
Some 85 per cent of respondents between the ages of 35 and 54 felt that a lifelong career has gone to the wayside compared with 78 per cent from those in the 18-34 age group.
Managing director for Randstad Singapore, Hong Kong and Malaysia, Michael Smith said: "Despite the less-than-encouraging findings from this latest Workmonitor research, many organisations are starting to take appropriate steps in ensuring that their employees are being provided opportunities for retraining and lateral movement."