A recent market survey to maritime businesses in Singapore has revealed that employees at all levels remain positive about their career prospects in the sector, despite the on-going doom and gloom reported for the sector.
Faststream surveyed over 500 individuals specifically working within the maritime industry in Singapore. 56% of respondents felt positive about their career prospects in the maritime industry in Singapore, 28% felt neutral and just 16% were looking at the career prospects negatively.
“The results are pretty conclusive which is good to see” commented Matt Conway, Managing Director of Faststream’s APAC operations. “We really didn’t know what to expect when asking people this question but it’s great to see that maritime employees in Singapore are, on the whole, looking at the career prospects with optimism. It reflects how we’re feeling as a business as we continue to see a month-on-month upturn in vacancy levels since the turn of the year. Maritime employees have every reason to feel confident.”
The survey also revealed that 17% of the businesses we surveyed are considering a move from Singapore to another location in the next 12 months, with Malaysia and India topping the list of potential locations to move to. The increasing costs of operating in Singapore was cited as the primary reason for moving, with 74% of business telling us that cost is the main factor for considering relocation, compared to 14% due to the availability of experienced employees and 11% related to other reasons including market conditions and Singapore’s strict auditing processes.
“It was surprising that only 14% of businesses looking to move away from Singapore were doing so because of the lack of experienced employees available” comments Matt Conway. “The market demands in Singapore for experienced staff far outweigh the availability of these people. Businesses are still underestimating the issue of available talent and I believe that if we were to ask the same question in 6 months’ time, the results could be very different.”