Key survey findings: (Source: Michael Page Singapore H2 2013 Employment Pulse)
• Just over half (55%) of surveyed employers anticipate headcount to remain stable, and 35% expect to increase staff numbers.
• Offering a competitive salary is the attraction strategy most likely to be implemented by employers (30%).
• Employers (53%) will also identify and groom top internal female employees for top level positions.
25 September, 2013: Employers across Singapore’s professional sector will need to develop a diverse attraction strategy, which includes supporting women into top level positions, to secure staff in the active recruitment market over the second half of 2013.
According to employers surveyed for the Michael Page Singapore H2 2013 Employment Pulse, 55% will maintain headcount over this period, while 35% will increase staff numbers. Of those anticipating increasing staff numbers, most (45%) will boost headcount by 5%.
“Positive hiring activity in the country is being seen as recovering economies in the United States and Europe lessen hiring freezes elsewhere, Singaporean listed companies grow in the region and multinational companies continue to set up regional offices in Singapore,” says Mr. Jerome Bouin, Managing Director of Michael Page in Singapore.
“As a result, employers will need to implement a variety of strategies and incentives to attract and retain the best range of professionals on the job market,” Mr. Bouin adds.
For 30% of respondents, competitive salaries will most likely be implemented as an attraction strategy, followed by scope for career development (26%) and promoting the company’s reputation (20%).
“Additionally, we’ve observed that businesses are adopting new and innovative trends to attract talent, and social media is particularly popular. Companies are creating corporate Facebook and LinkedIn pages that include the employer’s corporate mini-site and job postings,” says Mr. Bouin.
In regard to women in the top level positions, 30% of surveyed employers believe the focus on work-life balance is one barrier that is preventing women from attaining upper management roles, followed by a shift in family and work priorities (26%). To retain and encourage women into senior positions in the business, some 53% of respondents will identify and groom top internal female employees for these roles.
“This is a growing focus among major multinational companies, and the companies that show they are successful in this space will be best placed to attract a diverse range of talent into their business,” adds Mr. Bouin.