Let’s face the brutal truth: The Fair Consideration Framework that the government created to support local talent has affected how the hiring process is for employers such as yourself. We are expected to experience a more competitive market given unemployment rate at 1.9% as of Q4 2014, with 7 in 10 employers planning to hire in the next semester of 2015.
The number of available jobs was at its highest in six years last year, at 67,400 job vacancies. But don’t let the figure scare you off – here are three strategic ways for hiring in Singapore in 2015:
Revise the remuneration package you are offering
In a survey done by Michael Page early this year, 67% of the respondents said they are likely to change jobs in 2015. Why? The top reason for leaving their jobs is a lack of career progression – 61% did not receive any form of a promotion in the last two years. Salary is the next top concern for these respondents, as the cost of living in Singapore is only going to increase. A survey conducted by jobsDB Singapore last year confirmed these findings, with salary being the top factor for job consideration.
While you can’t predict if there is any room for promotion in your company for the next few years, you can definitely ask around to see if the remuneration package you are offering is competitive enough to attract top local talent.
Consider offering flexible work arrangements to older PMEs
Although 21.8% of the 67,400 jobs available in 2014 were specifically for professionals, managers and executives (PMEs), more of them are seeking help for employment issues. PMEs are generally resistant to trying out jobs that require slightly different background or experience than what they are used to.
Increasing the salary offered would be a great way to attract them over to your company, but what if you don’t have the budget to give them a remuneration package they are used to? Offer them something else instead – we’re talking flexibility. Talk to your bosses to see if you can create a flexible or part-time working arrangement package for older PMEs. It’s a win-win solution for both parties.
Advertise with a job portal that has a mobile platform
Remember, job seekers are becoming more tech-savvy (which is also how you would like them), using their mobile phones to do just about anything. A poll done by Hays showed that 40% of them used mainly mobile devices for their job search, a number that shouldn’t be overlooked, considering its constant growth.
When posting a job ad, search for a job portal that offers mobile recruitment as well so that job seekers can find your ad through their phones. Mobile recruitment is more than having an ad seen through a mobile platform – many job portals now allow job seekers to apply for the job using their mobile devices.
Source: William Cho (photo)
This article is either written or edited by jobsDB Singapore. If you like what you’ve read or want to publish it on your website, write to us at [email protected]. We’re always glad to hear from you!