Salary is still the top consideration for job seekers in Singapore, revealed Hudson's latest research titled The Hiring Report: The State of Hiring in Singapore.
According to the recruitment specialist, 75 percent of the 519 professionals across the republic surveyed said that higher salary was their number one priority when looking for a job. Combined with better benefits at 67 percent, it shows that compensation is a key influencer for job seekers today.
"With Singapore named the world's most expensive city in 2014 by the Economist Intelligence Unit, money and benefits dominate job seekers' agendas," said Emmanuel White, Hudson Singapore's regional director. "To attract top tier candidates, businesses need to ensure they offer competitive rewards and packages," he added.
Other key considerations that professionals look for in a new role include career progression (67 percent), work life balance (64 percent), and cultural fit within organisation and/or team (59 percent).
The challenge of attracting the right talent
The study also found that professionals in Singapore are highly open to changing jobs. Ninety-two percent of them are open to being approached about new job opportunities, 81 percent have an up-to-date resume, while 63 percent regularly update their LinkedIn profiles.
Despite these positive numbers, most hiring managers (93 percent) said that they need to look beyond active jobseekers to find the right candidate. About a third (32 percent) of them are thus relying on recruitment specialists and personal networks to do so. Headhunting and internal referral schemes (both at 31 percent) followed closely in effectiveness of finding the right talent, and online job boards (17 percent) and LinkedIn (14 percent) come thereafter.
"While digital and social media are expanding the tools available to both hiring managers and job seekers, the report clearly shows that when it comes to recruiting, people are still at the heart of successful hiring," White commented.
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