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Keep up(grading) to keep talent in

Published Wed, Jul 26, 2017 · 09:50 PM
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THE Ministry of Manpower (MOM) reported that the average Singaporean clocks an average of 45.6 hours a week in 2016. That's a lot of time slugging it out at the office, pushing local employees to become pickier when choosing what would soon become their second home.

More than 65 per cent of employers, according to a 2016 Global Talent Management and Rewards Survey by Willis Towers Watson, are struggling to attract the best talent for their firm. In the knowledge economy, talent might well be the most important distinction between success and failure; talent is the foundation of producing quality products, providing great service, business development, and fuelling sales and marketing excellence.

The hiring dynamic has been altered after the Singapore government's push for companies to hire local. Companies end up having to be the ones to sell themselves to the candidate, rather than the other way around. So, they invest in well-paid HR staff and buy HCM (human capital management) software systems so their people can get clear insights into goals and career progress. They commission themed designer offices with slides, swings, gyms, breakout rooms, art, haute cuisine canteens, and childcare facilities, or provide the top tech toys around - all to lure and keep top talent happy in their company.

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