The hiring landscape in Singapore today is changing rapidly and the challenges faced by companies are endless. Not too long ago, I had read that hiring and retaining employees were two of the biggest challenges facing Singaporean entities. Now, in the never-ending stream of news related to the war for talent, according to a recent Randstad study, two out five employees in Singapore are looking for a new job. Additionally, the survey pointed out that 31% of Singaporean employees consider resigning when they are not recognized or rewarded or where they feel they are not able to find the right work-life balance.
A recent article, "Top five hiring challenges Singapore is struggling with right now" explains that “the modern HR professional in Singapore faces a constant battle to maintain the quality of their hires against the need to remain within the MOM guidelines for quotas of foreign talent versus local Singaporean talent.” The article goes on to reveal that in 2019 hiring in Singapore has seen stable growth with continued high demand for data-driven and analytical roles including data scientists, user experience designers, digital roles and cyber security positions. Similarly, sales and marketing professionals with digital, e-commerce or big data experience are in high demand. The interim market also continues to expand as businesses seek more flexible models for their hiring needs.
As for what we are seeing for Singaporean-bound talent mobility within companies, there is no question that Singapore remains a hot location. Many companies are continuing to relocate employees for business needs and placing a large investment in the process. This article suggests that companies consider the overall experience and the future plan for these employees because employees will depart if the career path is not clear and alternatives are definitely available to them.
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For a big portion of these employees, a “limited career path” is the main reason why they want a new job. While 33 percent millennials mentioned that they would apply for jobs with firms that give strong training program for career and skills development, 38 percent of GenX population voted flexibility and strong management as attractive aspects of good employment. According to Jaya Dass, the managing director of Randstad Singapore and Malaysia, “Younger people do not mind working in the office as it places them in an environment where they can be most productive since they will have easy access to resources as well as people to exchange ideas with.”