By LEE U-WEN

WORK-LIFE balance and on-the-job training no longer top the agenda for younger job-seekers. Security is now the big concern for Generation Y workers as they grapple with the reality of the economic downturn.

In its February monthly update, Hong Kong-based recruitment and contracting group Ambition says that younger workers in Singapore have moderated their job expectations and are working harder to stay employed.

'One of the more interesting socio-economic trends affecting the workforce is that Generation Y candidates will have to quickly adapt their 'must have now' approach,' said Guy Day, Ambition's managing director (Asia).

'Still evident, but sliding down the wish list, are work-life balance, flexibility, training and development. It's too early to tell if there will be a backlash, but for the time being the younger generation are getting their heads down and being more productive - because they have to.'

The report echoes the findings of a telephone survey that Ambition conducted in November and December last year.

Among 200 people polled in Singapore, 53 per cent said they did not plan to look for a new job because the risk was too great in uncertain market conditions.

Twelve per cent said they were seeking a fresh start because they were fearful for their job security and 35 per cent said they were still on the lookout for good employment opportunities.

Ambition's latest report also says chief financial officers are under 'extreme pressure' as they become more stretched at work.

'Each aspect of their position is coming under the spotlight - steward, strategist, leader, manager of financial information, risk profiler and more. We may see an increase in CFO-level recruitment as individuals opt out,' said Mr Day.

Once the market uncertainty has eased, it is likely that companies will use the opportunity to upgrade their staff, he believes.

'Managers will look to replace people of average skills and attitude that they had to hire in the good times when better candidates were much harder to attract,' he said. 'Although good people are still hard to find, there are more candidates to choose from and far less time pressure.'

This article was first published in The Business Times.