The tech talent war is said to be at its worst in five years here – what else can HR do to attract and retain quality hires?
The war for tech talent in Singapore is said to be at its worst in five years. How can HR attract and retain qualified professionals to their organisations?
A recent survey by Evolution Recruitment Solutions found top factors influencing their decision to switch jobs. These can help employers and HR formulate hiring and retention strategies to yield better results.
Key finding 1: 72% IT professionals plan to stay in current jobs
According to the findings, 72% of respondents are not actively looking for a new job – 50% are open to new opportunities but are not actively looking, and 22% plan to stay in their current job. This suggests that companies going after qualified talent in the market will have to employ more aggressive hiring methods.
“With more opportunities available to tech talent now, it’s vital for employers to take an active approach to passive talent in the market,” said Jake Bridge, Client Solutions Director at Evolution Singapore.
Key finding 2: Top reasons for accepting job offers are salary and career progression
“Knowing what IT professionals want is the first step to creating an irresistible employee value proposition,” said Chris Hopkins, Regional Director at Evolution Singapore.
Salary (88%) and career progression (64%) are top on IT professionals’ minds when they consider a job offer. This suggests that even though most of them are passive job candidates, they could be lured by attractive salary packages and career progression opportunities.
Key finding 3: More than 80% curious about a start-up role
Singapore has a thriving start-up scene and there has been a spike in hiring activities at technology start-ups in recent years. The study showed that while 83% are currently not working at a start-up company, a large proportion (88%) is open to taking up a new role in one.