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Singapore – Higher salary main draw for jobseekers, but work/life balance also important

04 March 2015

A higher salary is, perhaps unsurprisingly, the top priority for Singapore jobseekers in 2015, according to new research from recruitment firm Hudson. Work/life balance and cultural fit are not far behind, among the top nine attributes that professionals look for in a new role.

Hudson’s “The Hiring Report: The State of Hiring in Singapore 2015” surveyed 519 professionals and hiring managers across Singapore, found a higher salary is the top priority for professionals with 75% of respondents naming it their number one priority. Combined with better benefits at 67%, it shows that compensation is a key influencer for jobseekers.

“With Singapore named the world’s most expensive city in 2014 by the Economist Intelligence Unit, money and benefits dominate jobseekers’ agendas. To attract top tier candidates, businesses need to ensure they offer competitive rewards and packages,” said Hudson Singapore Regional Director, Emmanuel White.

What Singapore jobseekers are looking for in a new role in 2015:

1 Higher Salary 75%
2 Better Benefits 67%
3 Career progression/Training opportunities 67%
4 Work/Life Balance (incl. flexible arrangements) 64%
5 Cultural fit within an organisation and/or team 59%
6 A company with values aligned with the jobseeker 37%
7 Strong manager 36%
8 Better brand 26%
9 Better job title 20%

Work/life balance is emerging as a significant area of focus for Singapore professionals, with 64% choosing it as a top priority when seeking a new role.

“Singaporeans are working longer hours than ever, and in such a time-poor environment it’s not surprising to see work/life balance assume more importance,” Mr White added. “Squeezing in time for family and leisure is now a major goal for many professionals.”

Cultural fit has also entered the top five priorities in 2015, with 59% of jobseekers in Singapore today identifying it as a key consideration.

According to Hudson, professionals in Singapore are highly open to being approached about new job opportunities.

Mr White explained: “In Singapore today, it’s a candidates’ market: candidates are online, they’re networking, and they’re open to change. With 92% of professionals open to being approached about a new job, 81% with an up-to-date resume, and 63% with an up-to-date LinkedIn profile, hiring managers need to understand where to find the best talent and how to attract them.”  

Yet while employees may be open to being approached about new opportunities, finding and attracting the right talent is becoming increasingly complex, requiring both a competitive employee offering and a multifaceted sourcing strategy. The scarcity of talent is recognised by hiring managers, with 93% acknowledging they need to look beyond active jobseekers to find the right candidate.

According to the report, recruitment specialists and personal networks are seen as the most effective sourcing strategy for Singapore hiring managers with 32% each.  

Headhunting and internal referral schemes followed closely in effectiveness, both at 31%, with a considerable gap to the next most effective channels: online job boards at 17%, LinkedIn at 14%, and a company’s own talent database at 13%.

What these results point to is that while digital channels are opening up new ways of sourcing candidates, recruitment in Singapore remains clearly and firmly based on people and their networks.

“While digital and social media are expanding the tools available to both hiring managers and jobseekers, the report clearly shows that when it comes to recruiting, people are still at the heart of successful hiring,” Mr White concluded.