How SMEs can draw and retain young tech talent

SMALL and medium enterprises (SMEs) are at the heart of Singapore's economy. SMEs make up 99 per cent of our enterprises, employ two-thirds of our workforce, and account for nearly half of Singapore's gross domestic product.

One of the biggest challenges that SMEs face is undoubtedly the shortage of talent - especially top tech talent. Singapore, a hub for many large tech companies, has intensified the challenge for SMEs to attract quality talent in a market where demand for skills far outweighs supply. What can SMEs do to stay on top of the talent acquisition game and attract and retain high quality tech talent?

The key lies in understanding the talent - millennials and Generation Z (Gen Z) - that SMEs are looking to hire. By 2020, millennials, born approximately between 1982-2000, are poised to make up more than a third of the global workforce, while Gen Z will make up a fifth of the workforce. Armed with progressive career expectations, millennials and Gen Z are reshaping the 21st century workforce. SMEs need to embrace this shift and strategise to attract and retain bright minds. Here are some ways that SMEs can position themselves to be most attractive to the best tech talent that Singapore has to offer.