Cultural Fit in C-Suite Recruiting: Key for Singapore’s Diversity

Over 1.1 million international professionals make up nearly a third of Singapore’s 3.4 million-strong workforce. This diversity is further amplified by the presence of more than 7,000 multinational corporations.

As one of the Four Asian Tigers alongside Hong Kong, South Korea, and Taiwan, Singapore holds undeniable regional significance. Its economic power is enriched by a multicultural tapestry of customs and traditions. For companies, particularly those focused on C-Suite recruiting, grasping this cultural complexity is crucial.

As a leading Asian economic powerhouse enriched by multicultural diversity, understanding Singapore’s cultural complexity is key for companies looking to succeed there. In particular, businesses focused on senior executive recruiting must align candidates’ cultural fit with professional expertise.

Achieving the balance is vital to effectively navigate Singapore’s dynamic landscape and diverse workforce. By integrating cultural awareness with strategic hiring, companies can assemble leadership teams positioned to thrive in Singapore for the long-term. 

Benefits of Prioritising Cultural Fit in C-Suite Recruiting

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C-suite executives play a pivotal role in shaping business strategy and organisational culture. Research shows leadership’s influence on culture can significantly impact performance, especially in diverse environments like Singapore. There are several key reasons why hiring culturally-aligned leaders is critical:  

1. Driving Performance & Change

Studies from MIT show companies that prioritise cultural fit when recruiting executives are five times more likely to achieve breakthroughs. 72% of leaders also attest (PWC) that strong culture is vital for leading change initiatives successfully. Aligned leaders rally their teams more effectively.

2. Retaining Top Talent

In Singapore’s high-attrition environment, positive culture is key for retention. 57% of local workers have considered resigning (SHRM), with only 55% viewing their corporate culture as favourable. Culturally attuned leadership fosters an inclusive culture that retains talent.

57% of workers have considered resigning due to dissatisfaction with their company’s culture. Only 55% view their own corporate culture positively. This underscores the need for culturally-aligned leadership that can build an inclusive and engaging culture.

4. Boosting Productivity & Engagement

Research from Arbinger indicates that aligned executives increase productivity by 46% and employee engagement by 38%. Leaders that embody company values inspire teams to higher performance levels. This underscores why cultural fit at the top is an imperative.

For any business looking to sustainably grow in Singapore’s multifaceted landscape, hiring culturally-aligned C-suite leaders provides measurable advantages across performance, retention, morale, and more. The data shows it’s not just recommended, but vital for success.

Consequences of Ignoring Cultural Fit in C-Suite Recruiting

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Bringing on a C-suite executive without cultural alignment can severely impact an organisation and its bottom line. Negative ramifications emerge through multiple vectors:

1. Costly Turnover from Culture Clashes

SHRM shows that turnover stemming from culture mismatch can cost a company 50-60% of the departed executive’s annual salary. Replacing an executive is a massive expense, especially factoring in recruiting costs, lost productivity, and onboarding.

2. Exacerbated Attrition Rates

This mismatch amplifies turnover rates and strains budgets. When leadership lacks cultural alignment, top talent is more apt to voluntarily resign, fuelling ongoing attrition. Our insights into why employees resign from high-paying roles further prove the vital importance of cultural fit at the top.

3. Toxic Environments Erode Performance

Beyond direct costs, cultural misalignment breeds toxicity that erodes team dynamics. When executives don’t reflect company values, it permeates divisions and depresses morale across the board.

The fallout includes plummeting morale and productivity. Unengaged, frustrated teams deliver subpar results, creating more problems than aligned leadership solves.

4. Breakdowns Cascade Through the Ranks

Moreover, one wrong executive hire lacking cultural suitability reverberates through the organisation. The aftermath often shows up as communication breakdowns, weakened cohesion, and sinking motivation – all hampering performance.

When divisions lose faith in leadership, isolation, politicking, and dysfunction inevitably follow. This cascading damage makes proper cultural vetting for the C-suite non-negotiable.

The data spotlights why cultural alignment must be top-of-mind when adding C-suite leaders. The financial, cultural, and productivity pitfalls of getting it wrong make getting it right an indispensable priority.

Strategies to Optimise C-Suite Recruiting

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C-Suite recruiting in Singapore is no walk in the park. It’s a game that requires strategy. You can dive deeper into our proven strategies to get it right. Cultural fit? It’s more than just a buzzword; it’s a cornerstone.

Aligning this with your C-suite recruitment tactics is the key to success. Here are our most important strategies in hiring C-suite candidates:

1. Define Your Company’s Culture 

Before evaluating a senior executive’s cultural fit, clearly define your organisation’s culture. Consider your company’s values, environment and objectives to understand desired leadership traits and behaviours that align.

Inquire internally to involve staff:

  • What are our core values?
  • What environment do we want?
  • What goals and methods will achieve this?
  • Invite employee feedback and suggestions.

Once the culture is well defined, assess candidates’ fit. Seek those sharing organisational values with similar working styles. For instance, if collaboration is key, pursue leaders with a proven collaborative track record, like successfully directing cross-functional teams.

An example is BNP Paribas Real Estate, where executives mandated adopting a new business development approach top-down. Despite initial work with sales champions, companywide training was still required as the issue spanned all functions.

This shows that whilst leadership can instigate change, ongoing input from all staff embeds it. Regular feedback highlights gaps between intended and actual culture, refining initiatives towards desired behaviours. Evaluate cultural alignment perpetually.

2. Use Behavioural Interviewing to Gauge Cultural Alignment

Whilst customary interview questions have some merit, rehearsed responses may not illuminate actual workplace conduct. Consider behavioural techniques for deeper insight on fitting company culture.

This involves the candidate depicting specific prior situations and their reactions. Comprehending handling of varied circumstances indicates cultural congruence regarding expected executive traits and behaviours. Probe leadership style, communication approach, conflict resolution and achieving collective goals.

A LinkedIn survey found 86% of hiring managers rate behavioural interviewing as effective for appraising soft skills, which 60% struggle to evaluate. Moreover, its structured format enables fair and legal candidate comparisons.

These numbers demonstrate this method’s prevalence at senior levels to assess leadership agility across diverse scenarios. Tailor questions to your cultural priorities and evaluate patterns signalling misalignment early on. Assess conduct fit continually after appointments through regular feedback.

3. Leveraging Diverse Stakeholders to Evaluate Fit

Cultural alignment assessments benefit from varied viewpoints. Seek input across the leadership team, staff and HR on executive candidates. Each provides unique perspectives based on relationship proximity regarding values and collaboration fit.

For instance, executives supply comparisons on leadership chemistry and strategic alignment. Employees detail day-to-day culture and work style clashes. HR examines employment histories flagging environment adaptation challenges.

Ensure hiring criteria clarity for objective feedback. Everyone must evaluate appointments based on cultural contribution; not just technical ability or chemistry with individuals.

For example, at Apple, candidates interact with around 12 staffers across functions. As Steve Jobs asserted, even marketing hires meet technical teams because anyone could veto for culture mismatch. Collective responsibility cements standards through workgroup exposure. Continual engagement post-hire also enhances acculturation.

Wrapping Up

Singapore’s diverse business landscape demands more than just expertise. It calls for a deep understanding of cultural fit, especially in C-Suite recruiting. The data speaks for itself: cultural alignment impacts productivity, retention, and overall company morale.

As the stakes in C-Suite recruiting rise, prioritising cultural fit isn’t just an option—it’s essential. For businesses aiming to thrive in Singapore, the right leadership, aligned with the company’s values and the nation’s unique cultural fabric, is the key to success.

In need of cultural alignment in your next C-Suite hire? Contact us for expert guidance.

AI In Finance, Learn How AI Transform Finance & Banking Industry

Over past decades, Singapore has been positioned as a global financial hub, housing a robust banking and finance industry that’s vital to the domestic and regional economy. In the era of rapid technological advancements, this sector dived headfirst into a tech transformation.

This article delves into the evolution of the region’s banking and finance sector in Singapore, shedding light on how the industry is both adapting to cutting-edge technology and redefining the landscape of employment opportunities.

Technology-Driven Evolution in the Banking Industry

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Generative artificial intelligence (AI) stands at the forefront of technology-driven transformation in Singapore’s financial sector, propelling a surge in tech spending.

According to research firm Forrester, tech spending in Singapore is projected to reach a staggering US$22.2 billion in 2023, marking a 4.6% increase from the US$21.2 billion spent in 2022 and surpassing the US$20.5 billion recorded in the pandemic year of 2021.

Furthermore, research house IDC anticipates Singapore’s investment in AI alone to exceed US$3.5 billion by 2026, nearly tripling the US$1.2 billion spent in 2022. Here are the top three trends shaping the 2023 job evolution:

1. Artificial Intelligence (AI) Takes Center Stage

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AI is revolutionising banking operations. From automating tasks to enhancing the customer experience, AI’s impact is significant. Job roles like AI specialists and data scientists are in high demand, while routine manual jobs are gradually being replaced.

  • Jobs Eliminated: Routine manual tasks, data entry positions, and basic customer service roles that can be automated.
  • Jobs Created: AI specialists, data scientists, machine learning engineers, AI ethicists, AI product managers, AI trainers, and educators.

2. Digital Disruption and the Rise of Fintech

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Digital disruptions, coupled with the rise of fintech companies, are redefining the competitive landscape. Banks are embracing digital banking, offering services online, and facing increased competition not only from traditional rivals but also from innovative fintech startups.

  • Jobs Eliminated: Traditional banking roles that become redundant due to digital transformation, such as some teller positions.
  • Jobs Created: Digital banking experts, fintech specialists, cybersecurity experts, customer experience specialists, and AI strategy consultants.

3. Cybersecurity and Data Security

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With the digital front under constant threat from cyberattacks, safeguarding customer information and financial data is paramount. Financial institutions invest heavily in advanced security measures, driving up operational costs to ensure trust and data security.

  • Jobs Eliminated: Some manual data security monitoring roles that can be automated by AI.
  • Jobs Created: Cybersecurity experts, compliance and regulatory analysts, AI ethicists (to ensure data security), and AI trainers and educators for cybersecurity teams.

HR and Recruitment Services in Singapore in the Era of AI

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Singapore’s finance sector isn’t just adopting tech; it’s transforming job prospects. As AI gains prominence, recruitment strategies shift. According to Harvard Business Review, 44% of businesses use AI in IT, and 19% use it to predict customer preferences.

The HR landscape is also undergoing a transformation. A remarkable 96% of senior HR professionals believe that AI has the potential to significantly enhance talent acquisition and retention. AI-driven tools streamline recruitment processes, making them more efficient, precise, and capable of identifying the best-suited candidates.

This not only helps the industry stay competitive in a tech-forward landscape but also positions Singapore’s financial sector as an attractive destination for tech-savvy job seekers.

The industry is reinventing its business models to harness the power of technology fully. Investments in technology infrastructure, coupled with the recruitment of tech/IT professionals, are reshaping the sector’s workforce. In 2021, the financial services sector employed more than 209,000 individuals.

Banking Talent Recruitment Changes in Singapore

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Singapore’s prominent banks are taking decisive steps in response to the tech revolution. Oversea-Chinese Banking Corporation (OCBC) has doubled its tech teams in areas like blockchain, AI, and augmented reality, hiring 1,500 tech professionals over 3 years. United Overseas Bank (UOB) plans to add over 2,700 employees in 2023, with 500 in tech and data roles.

DBS, the region’s largest bank, boasts about 1,000 data professionals and a commitment to digital transformation. These local institutions are strategically augmenting their tech workforce to stay competitive amid evolving technological trends.

Key Jobs That Shape the Future of Banking Recruitment

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Overall, banks will seek a mix of technical and non-technical roles to harness the potential of AI while ensuring responsible and ethical implementation within the industry. Here are some job roles and positions that are likely to emerge or become more prominent:

  1. AI and Machine Learning Specialists: Banks will need experts who can develop and implement AI and machine learning algorithms to improve customer service, risk assessment, fraud detection, and other critical functions.
  2. Data Scientists and Analysts: The demand for data scientists and analysts will continue to grow as banks rely on data-driven insights to make informed decisions. These professionals will collect, analyse, and interpret data to drive business strategies.
  3. AI Ethicists and Compliance Officers: As AI becomes more integrated into banking processes, there will be a need for professionals who can ensure that AI systems adhere to ethical standards and regulatory compliance.
  4. Cybersecurity Experts: With increased reliance on AI and digital technologies, the need for cybersecurity experts will remain high. These experts will be tasked with protecting banks’ AI systems and customer data from cyber threats.
  5. Customer Experience Specialists: Banks will seek professionals who can leverage AI to enhance the customer experience. This may include roles focused on chatbots, virtual assistants, and personalised marketing using AI.
  6. AI Product Managers: These professionals will bridge the gap between technical teams and business objectives, ensuring that AI initiatives align with the bank’s strategic goals.
  7. AI Trainers and Educators: As AI systems become more prevalent, banks may need experts to train and educate employees on how to effectively use and interact with AI tools.
  8. Quantitative Analysts (Quants): Quants will continue to be in demand for their expertise in developing and validating AI models for risk management, trading, and portfolio optimisation.
  9. Compliance and Regulatory Analysts: These professionals will help banks navigate the regulatory landscape surrounding AI applications in finance and ensure compliance with industry standards.
  10. AI Strategy Consultants: Consulting firms specialising in AI strategies may assist banks in developing and implementing AI roadmaps, helping them stay competitive and compliant.

Conclusion

AI is not just a trend but a transformative force. With billions invested and tech integration at its core, the industry is evolving rapidly. It’s not just reshaping financial processes; it’s moulding the job landscape.

From AI specialists to compliance analysts, new roles are emerging. This AI-powered revolution ensures Singapore’s financial sector remains dynamic, competitive, and ready for the challenges of tomorrow.

Learn more about our services and reach out now to embark on your journey to success in the evolving banking industry with one of the top recruitment services in Singapore.

What is Upskilling? The Key to Job Security in Singapore

In today’s ever-changing job landscape, the concept of job security has taken on a new meaning. With the rapid advancements in technology and automation, employees are finding themselves at the crossroads of adaptability and uncertainty.  Particularly in Singapore, the surge of tech, like AI and robotics, is reshaping roles, intensifying the need for upskilling.

Analysing 433 occupations across six ASEAN countries, Oxford Economics found that nearly 21% of Singapore’s full-time workers could face job displacement within the next decade due to increased technology adoption, including AI and robotics. This figure is higher than in other Southeast Asian nations and underlines the pressing need for individuals to adapt their skills to the evolving job landscape.

Recent statistics show that 2 in 5 employees (41%) are afraid of losing their jobs and are considering changing their employment in the first half of 2023. This represents a 5% increase from the statistics recorded in 2021. The fear of job loss, coupled with the desire for better career prospects, has given rise to a growing trend—the pursuit of upskilling.

What is Upskilling? What Does it Mean by Upskilling?

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Upskilling refers to the process of learning new skills or enhancing existing ones to improve one’s competence, employability, and career prospects. In today’s rapidly evolving job market, upskilling has become increasingly important for professionals across various industries. It enables individuals to stay relevant, adaptable, and competitive in the face of technological advancements, changing job requirements, and industry disruptions.

Upskilling can take many forms, such as taking courses, attending workshops or training programs, obtaining certifications, pursuing higher education, or engaging in self-study and online learning platforms. The skills acquired through upskilling can be technical, such as coding, data analysis, or digital marketing, or they can be soft skills like communication, leadership, or problem-solving.

In a rapidly changing job landscape, upskilling is not just a luxury but a necessity. By continuously investing in their professional development and acquiring new skills, individuals can future-proof their careers, remain competitive, and position themselves for success in an ever-evolving job market.

What is The Difference Between Upskilling and Reskilling?

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While upskilling and reskilling are related concepts, they differ in their scope and goals. Understanding the distinction between the two is crucial for individuals and organizations seeking to enhance their workforce’s capabilities.

Upskilling refers to the process of acquiring additional skills or knowledge within one’s current role or industry. It involves enhancing existing competencies or learning complementary skills to perform better in the present job or prepare for future advancements within the same field. Upskilling enables individuals to stay relevant, efficient, and competitive in their current roles by adapting to new technologies, processes, or industry trends.

On the other hand, reskilling involves learning entirely new skills to transition into a different role, job function, or industry. It is a more significant shift that involves acquiring a completely new set of competencies, often due to changes in the job market, technological disruptions, or personal career aspirations. Reskilling equips individuals with the necessary skills to pursue new career paths or adapt to evolving job requirements that may render their current skillset obsolete.

The Upskilling Imperative

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In a bid to stay relevant and equipped with the skills demanded by the job market, employees are increasingly recognising the need for continuous learning and development. A staggering 91% of new recruits in Singapore now prioritise upskilling opportunities when considering job offers.

This shifting mindset underscores the importance of upskilling as a means to enhance employee productivity and security in an ever-evolving professional landscape.

The Singaporean government’s SkillsFuture program, fueled by grants and subsidies, is propelling lifelong learning for employers and employees alike. With over 660,000 participants last year, this initiative cultivates crucial skills such as digital expertise, data analytics, AI, and automation, fostering adaptability in an ever-changing job landscape.

By creating a collaborative environment, Singapore positions itself as a global hub for skilled talent, ensuring both individual growth and economic advancement in the face of rapid technological evolution.

1. Empowering Mid-Level Executives

The Future of Jobs Report anticipates 75 million job displacements and 133 million new roles globally by 2022, highlighting a rapid shift in the employment landscape. For mid-level executives in Singapore, these statistics hold immense relevance.

With local employers seeking talents equipped with skills for emerging roles, failure to bridge the skills gap can jeopardize career prospects. Thus, the imperative for continuous upskilling and reskilling has become crucial to maintaining economic relevance and job viability, whether currently employed or seeking new opportunities.

2. Fortifying Job Security Through Upskilling

Upskilling serves as a powerful strategy for fortifying job security through various avenues. According to the World Economic Forum, it significantly enhances employability by equipping individuals with adaptable skills that align with evolving industry dynamics, consequently rendering them valuable assets to employers and diminishing the risk of job displacement.

Moreover, upskilling acts as a shield against the looming threat of automation, as evidenced by a McKinsey & Company study. This study highlights that individuals armed with advanced digital skills and the capacity to collaborate with machines are notably less susceptible to the impact of automation on their careers.

The widening of an individual’s skill set is yet another aspect that contributes to job security. By expanding their repertoire, upskilled individuals become versatile and capable of fulfilling diverse responsibilities, reducing dependence on a singular job role and enhancing resilience in the face of ever-changing job demands.

3. Paving the Path to Better Career Prospects

In a competitive job market, possessing the latest skills and knowledge can be a game-changer. Upskilling allows mid-level executives to position themselves as valuable assets to their current and potential employers.

In the dynamic landscape of business, where innovation is paramount, companies seek individuals who can readily adapt to new challenges and contribute fresh perspectives. Thus, promising career prospects and robust salaries await individuals in emerging roles.

Some up-and-coming jobs include:

  • Data scientists, with an average annual salary of S$96,000, are sought after for their expertise in data analysis.
  • Cybersecurity engineers, earning around S$102,000 per year, play a pivotal role in protecting digital systems.
  • Blockchain engineers, with an average salary of S$126,000 annually, are in demand for their proficiency in secure transaction technology.
  • UX/UI designers, commanding about S$75,000 annually, shape engaging digital experiences.
  • Digital marketers, earning around S$60,000 per year, steer online campaigns in an evolving digital market.

These roles not only promise growth but also showcase Singapore’s commitment to technology-driven fields.

Evidence in Numbers

Concrete statistics support the benefits of upskilling. According to a study conducted by the World Economic Forum, upskilling initiatives can lead to an impressive boost in productivity, with potential gains of up to 20%.

Moreover, research indicates that employees who actively engage in upskilling are more likely to remain with their current employers, fostering loyalty and stability within organisations.

Here are the benefits of upskilling or employee training:

  1. Enhanced employability: Acquiring new skills makes people more appealing to employers, reducing the risk of job loss.
  2. Future-proofed careers: Continuous learning keeps employees adaptable to industry changes and emerging technologies.
  3. Increased job security: Versatility in skills makes employees indispensable to organisations, boosting job security.
  4. Higher earning potential: Specialised skills can lead to roles with better pay.
  5. Alignment with national initiatives: Participation in training programs aligns with ongoing learning priorities.
  6. Access to emerging industries: Learning new skills opens doors to growing sectors.
  7. Strengthened industry relevance: Regular training keeps employees updated and credible in their fields.
  8. Boosted employee morale: Training shows investment in growth, improving job satisfaction.
  9. Increased innovation: Learning fosters creative thinking and problem-solving abilities.
  10. Support for lifelong learning: Continuous education aligns with personal growth and development.

Compelling data underscore evidence of upskilling’s success in Singapore. Randstad’s 2022 Workmonitor report revealed a clear desire for professional growth, with 91% of workers surveyed expressing interest in development opportunities. However, only 22% reported receiving training from their employers in the past year.

This focus on upskilling aligns with the Labour Market Report Q4 2022, which noted an “unprecedented” 227,800 increase in overall employment during the year, rising by 2.9%. Furthermore, Q4 2022 alone witnessed a rise of 43,500 jobs, reflecting a five-quarter consecutive growth trend in employment.

These statistics collectively underscore the positive impact of upskilling initiatives in fostering career growth and stability in Singapore’s evolving job landscape.

Conclusion

As the professional landscape continues to evolve, upskilling has emerged as a potent strategy for employee productivity and security. For mid-level executives navigating the uncertainties of the job market, embracing continuous learning not only enhances their skills but also reinforces their job security.

The commitment to upskilling not only empowers individuals but also strengthens organisations, fostering a culture of innovation, adaptability, and growth. In this dynamic era, the pursuit of upskilling isn’t just an option—it’s an imperative for success.

Improving Your Recruitment Process: Best Ways & Practices

With the increasing competition in the job market in Singapore, it has become even more important for companies to have a recruitment process that not only attracts qualified candidates but also retains them. It’s not just about filling positions; it’s about finding the right talent for the job.

In 2022, there were an estimated 1.5 million job vacancies in Singapore, while the number of unemployed people was only 400,000. This means that there were more than 3 job vacancies for every unemployed person.

Having an effective recruitment strategy can save a company both time and money by reducing turnover rates, increasing employee engagement, and improving overall business performance.

Moreover, having a good recruitment process can also enhance the company’s reputation as an employer of choice, making it easier to attract top talent. A study found that 75% of candidates say that the recruitment process has a significant impact on their decision to accept a job offer.

Here are 5 ways to assess how effective your recruitment tactics are and the tips on how to improve your recruitment process.

5 Ways to Assess Your Recruitment Tactics

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1. Analyze Your Application Process

The typical recruitment process in Singapore involves job posting, candidate sourcing, screening and shortlisting, interviews, assessments and tests, reference checks, offer and negotiation, and onboarding.

The first step in assessing the effectiveness of your recruitment tactics is being able to analyse your application process. This involves evaluating how user-friendly your application process is and identifying any bottlenecks or areas where candidates may be dropping out of the process.

Companies should pay attention to comments indicating difficulties in submission, lack of communication, lengthy steps, clarity of job requirements, and user-friendliness. These comments provide valuable insights into the candidate’s experience and help identify areas for improvement.

2. Tracking Key Metrics

Tracking key metrics is essential for assessing the effectiveness of your recruitment tactics. Here are 5 to keep track of:

  1. Time-to-Fill: Measures the duration from initiating recruitment to filling the position. A shorter time-to-fill indicates efficiency and prevents losing candidates to competitors.
  2. Cost-per-Hire: Calculates the total recruitment cost. Lowering cost-per-hire while maintaining quality ensures efficient resource allocation.
  3. Quality of Hire: Evaluates new hires’ performance, productivity, and retention. It assesses the effectiveness of attracting top talent.
  4. Candidate Experience: Measures candidate satisfaction with the recruitment process. Positive experiences enhance the employer brand and attract high-quality candidates.
  5. Source of Hire: Identifies the most effective candidate sourcing channels. Understanding the best sources helps allocate resources strategically.

Some current statistics to keep in mind:

To improve these metrics, you can use a range of strategies, such as streamlining the recruitment process, utilizing employee referrals, and investing in employer branding. Recruitment metrics can also benchmark performance against industry standards and track progress over time.

Also Read: 5 Reasons Why Employers Prefer Engaging Recruitment Agencies.

3. Talent Pipeline Analysis

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According to a LinkedIn report, organisations with a talent pipeline are 2.3 times more likely to achieve their financial goals than those without. This indicates that maintaining a pool of potential candidates through a talent pipeline can positively impact business outcomes.

Conducting a talent pipeline analysis involves several key steps.

  1. Identify future talent needs by aligning with stakeholders and identifying critical roles and skills.
  2. Define clear target candidate profiles based on qualifications and attributes.
  3. Employ diverse sourcing strategies to attract potential candidates from various channels.
  4. Engage and nurture candidates through ongoing communication and relationship-building activities.
  5. Continuously evaluate candidate suitability through screenings and assessments.
  6. Regularly update and maintain the pipeline by refreshing it with new prospects and removing irrelevant candidates.
  7. Measure pipeline effectiveness using key metrics and adjust recruitment strategies based on the insights gained to optimise the pipeline’s effectiveness.

Let us help you analyse your talent pipeline and check out other Trust Recruit services available.

4. Reviewing Turnover Rates

By analysing turnover rates, you can identify patterns and potential causes for high turnovers, such as poor cultural fit, inadequate onboarding, or limited opportunities for career advancement.

A high turnover rate is typically indicated by 28% of new employees leaving their jobs within the first 90 days of employment. The average turnover rate in Singapore is 15%, which is still relatively low. It’s best to have low turnover rates to avoid negative consequences, such as:

  1. Frequent resignations: An increase in voluntary resignations within a short period may indicate issues with the recruitment process or work environment.
  2. Negative employee feedback: Consistent feedback indicating dissatisfaction, low morale, or lack of career development opportunities should be addressed promptly to retain talent.
  3. Low employee engagement scores: Monitoring and analysing employee engagement survey results can highlight areas of concern that may contribute to turnover.

Consider the following measures:

  1. Enhance candidate screening: Implement rigorous screening processes to identify candidates who are not only technically qualified but also fit well with the organisation’s culture and values.
  2. Improve onboarding programs: Develop comprehensive onboarding programs to facilitate new employees’ assimilation into the company, ensuring they feel supported and engaged from the start.
  3. Enhance employee engagement initiatives: Create a positive work environment that fosters employee satisfaction, growth opportunities, and work-life balance, reducing the likelihood of turnover.

5. Measuring the Diversity of Your Candidate Pool

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Following the success of Unilever and DBS Bank in implementing diversity and inclusion initiatives, measuring your candidate pool is essential in assessing your recruitment tactics.

It relates to evaluating the success of your strategies in attracting and considering candidates from diverse backgrounds. By assessing the diversity of your candidate pool, you can determine whether your recruitment efforts are inclusive and aligned with your organisation’s diversity and inclusion goals.

Websites such as the Tripartite Alliance for Fair and Progressive Employment Practices (TAFEP) offer guidance on measuring diversity in recruitment, including how to conduct a diversity audit and ways to enhance diversity in the workplace.

Best Practices on How to Improve Recruitment Process

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1. Streamlining the Application Process

By streamlining the application process, businesses can make it easier for candidates to apply, increasing the likelihood of attracting a diverse pool of qualified applicants. Companies like Google and Meta are examples of businesses that have implemented successful streamlined application processes.

Google’s process takes around two months, with seven simple steps for applicants to get through. On the other hand, Meta’s process is clearly stated on its website, which allows potential applicants to know what to expect when they apply.

2. Improving Your Employer Branding

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In 2021, it was found that 62% of job seekers utilise social media platforms to assess a company’s employer brand. A strong employer brand can attract top talent, increase employee engagement, and improve overall business performance.

Through such, you can communicate your company’s culture, values, and benefits to potential candidates.

3. Offering Competitive Compensation and Benefits

Candidates often weigh salary and benefits as top factors when considering a job offer. Companies that offer competitive compensation packages and desirable benefits can differentiate themselves in a crowded job market and attract a diverse pool of top candidates.

Checking the Ministry of Manpower’s guidelines could allow you to gauge what candidates expect and what other companies may offer.

4. Encouraging Employee Referrals

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Encouraging employee referrals leverages the existing networks and connections of employees to source potential candidates. This can help to identify candidates who are a good fit for the company culture and have the necessary skills and experience.

Additionally, it can result in faster hiring times, reduced recruitment costs, and improved employee retention rates.

5. Building a Diverse and Inclusive Hiring Process

To build a diverse and inclusive hiring process, companies can take steps such as reviewing job descriptions to remove bias, implementing blind screening processes, and ensuring diversity in the interview panel.

Companies can also partner with community organisations and attend job fairs to reach a wider pool of candidates.

Conclusion

Regularly assessing and learning how to improve recruitment process is crucial in ensuring your organisation attracts the best talent and remains competitive. Effective recruitment tactics are essential for finding and retaining top talent, and this process requires ongoing attention and effort.

By implementing these strategies, you can significantly improve the recruitment process, leading to increased retention rates, higher employee engagement, and a stronger brand reputation.

Contact us to keep your job recruitment tactics efficient and up-to-date.

5 Reasons Employees Leave High-Paying Jobs in Singapore

In the fast-paced and competitive landscape of Singapore’s job market, the decision to tender resignation from a high-paying job can seem unfathomable. Yet, behind the allure of financial stability, many employees find themselves at a crossroads, grappling with hidden challenges that push them to tender resignation and seek other prospects.

Employees resign from high-paying jobs for various reasons, but it’s crucial to recognise the potential benefits of such decisions. In 2022, it was reported that almost 40% of people considered leaving their jobs in the next few months, according to McKinsey and Co.

During the Great Resignation in 2021, 18% with middle-income jobs decided to resign, while 11% of employees with upper-income jobs decided to quit—despite the top reason cited for wanting to leave a job not being paid enough.

Just as with any other position, job satisfaction is a factor for any employee to stay or leave their company. It encompasses various factors such as the sense of accomplishment, positive relationships with colleagues and superiors, opportunities for growth and development, work-life balance, and alignment of personal values with organisational culture.

Why Do People Leave Their Well-Paying Jobs in Singapore?

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1. Lack of Career Advancement Opportunities

For some with strong aspirations for career growth, the availability of prospects is crucial for them. People seek better opportunities such as skill enhancement, entrepreneurship, work-life balance, and exploring diverse industries for professional growth and fulfilment.

In 2022, it was found that 64% of employees consider career advancement opportunities as the most critical factor when considering a job offer or staying in their current role. However, only 37% of employers have a formal career development program in place, leaving many employees feeling frustrated and stuck in their current roles.

Companies like Microsoft and Deloitte are known for their comprehensive career development programs. These programs typically include mentoring, training workshops, skill-building initiatives, and opportunities for internal mobility to enable employees’ professional growth and advancement.

Trust Recruit offers meaningful job opportunities that address the risk of turnover caused by a lack of structured career development, providing employees with better alternatives.

2. Poor Work-life Balance

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Employees experience burnout or feel frustrated by the lack of time for personal activities because of long work hours. Poor work-life balance can lead to high levels of stress as well as physical and mental health issues. This leads to job dissatisfaction and leaving their jobs—it all comes down to prioritising themselves or their pay.

According to the Ministry of Manpower, the average workweek for Singaporeans is around 44 hours, with 1 in 4 employees working more than 48 hours a week. While the National Sleep Foundation recommends at least 7 hours of sleep each night, only 27% of Singaporeans reach that ideal.

In comparison, the US has an average workweek of around 34.4 hours for full-time employees, while Australia enjoys one of the shortest average workweeks globally at around 32 hours. This year’s United Nations’ World Happiness Report ranked the US at 15th place, and Australia at 12th place.

Thus, it’s important for employers to take steps to improve the work-life balance of their employees. This can include implementing flexible work arrangements, such as telecommuting and flextime, and providing paid time off.

3. Inadequate Compensation and Benefits

High-paying jobs don’t necessarily come with the best compensation and benefits. Employers who fail to provide what their employees need may struggle to retain their top talent, leading to high turnover rates and increased recruitment costs.

To satisfy employees, it’s best to provide competitive salaries and benefits packages. Offering benefits such as bonuses, stock options, health insurance, or flexible work arrangements can help employers retain their top talent. It’s best to find a job that meets one’s financial and lifestyle needs.

Some companies go beyond the conventional offerings to provide unique and appealing packages:

  • Google –  Employee perks include free meals, on-site gyms, laundry services, and even on-site medical staff. They also offer generous parental leave of 24 weeks, financial assistance for adoption, and bereavement benefits that provide financial support to an employee’s family.
  • Netflix – Netflix is known for its unlimited vacation policy, allowing employees to take time off whenever needed. They also provide a generous parental leave policy, offering up to one year of paid leave for both mothers and fathers following the birth or adoption of a child.
  • Airbnb – Airbnb provides its employees with an annual stipend of $2,000 to travel and stay in any Airbnb listing worldwide. This encourages employees to experience the company’s services firsthand and fosters a culture of exploration and adventure.

4. Toxic Workplace Culture

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A healthy work environment is essential not only to productivity but to employee satisfaction as well. Toxic workplace culture can manifest in various ways, such as verbal abuse, harassment, discrimination, or even micromanagement.

Studies have shown that more than half of the workforce has experienced workplace bullying, and 1 in 4 employees has experienced discrimination in the workplace. This led to decreased productivity and performance, increased absenteeism, and higher turnover rates.

Uber CEO, Travis Kalanick, was forced to resign after a series of scandals, including allegations of sexual harassment and discrimination. On the other hand, Amazon was accused of creating a “dehumanising” work environment for its warehouse employees. Reports included high-pressure quotas, long hours, and dangerous working conditions. 

Therefore, it is essential for organisations to create a healthy and positive workplace culture through these three key methods:

  • Foster a culture of open communication and collaboration.
  • Encourage mutual respect and appreciation among team members.
  • Provide opportunities for professional development and growth.

Also Read: 5 Useful Tips to Handle Workplace Conflicts

5. Unsupported or Ineffective Leadership

Slack’s research linked poor leadership and decreased employee morale and productivity. Only half of the professionals said they felt inspired by their leaders, and the same number found their leaders “stuck in their ways of working.”

Ineffective or unsupportive leadership can take many forms:

  • Lack of communication.
  • Micromanagement.
  • Bad business practices.
  • Failure to provide necessary resources and support.

Employees may be disengaged from their work and look for opportunities elsewhere.

In 2021, Better.com, a mortgage lender, laid off 900 employees in a video call that was widely criticised for its tone and lack of empathy. The company’s CEO, Vishal Garg, was forced to apologise and eventually stepped down. In the days following the video call, the company’s stock price fell by more than 20%.

Additionally, employers who want to avoid confrontation may resolve to “quiet quitting,” which is strongly linked to poor leadership. It refers to employees disengaging and seeking new opportunities without overtly expressing dissatisfaction, highlighting the importance of addressing leadership issues to maintain a motivated workforce. 

Conclusion

Whether it’s the lack of career advancement opportunities, poor work-life balance, inadequate compensation and benefits, toxic workplace culture, or unsupportive leadership, these factors can prompt employees to seek new horizons.

Understanding the reasons behind employee resignations allows employers to address these concerns and create a positive and supportive work environment, fostering employee satisfaction, engagement, and long-term retention.

Let us help you find a job that aligns with your career goals and aspirations. Contact us today.

5 Effective Tips for Managing Employee Conflicts in the Workplace

Effectively managing employee conflict in the workplace is a talent. Learn how to avoid unplanned conflicts at work by following these tips.

Do you recall a time when a colleague gets on your nerves? It disturbs you that you can never see things from their perspective. Or maybe you feel unheard because of your boss’s poor workplace conflict management skills.

Conflict in the workplace occurs more often than you may expect. As stated in the study “Workplace Conflict and How Businesses Can Harness It to Thrive.”, 85% of workers experience workplace conflict at some point in their employment, and 29% of those workers experience workplace conflict virtually continuously.

However, not all conflicts in the workplace are harmful. Solving disagreements and having tough talks at work may make everyone’s lives easier.

We’ve all been taught that avoiding confrontation is preferable, yet there are situations when it leads to positive outcomes. Here, you’ll learn effective strategies for resolving workplace conflicts.

What Causes Employee Conflict in The Workplace?

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Teammates often fight and workplace conflict may result from various reasons such as personality, work style, or even approach to the topic.

Workplace conflict is possible everywhere, even in a Zoom conference. It might come through in the way we speak and carry ourselves. Individuals use words not only to show they don’t agree with another person’s opinion or the quality of their work; they may also show it via direct action. Disrespect and hostility may grow out of a lack of active listening abilities.

There is no simple example of workplace conflict. Ultimately, there’s always a person on both sides of any dispute. Since we all bring our complete selves to the office, disagreements will undoubtedly arise. However, similar problems exist in most organizations.

Ultimately, there are the six main factors that can be identified as the root of workplace tensions:

  1. Disagreement over the best approach to a problem.
  2. Difficulties stemming from management’s leadership and conduct.
  3. Ineffective exchange of information about roles and duties.
  4. Politics at work can lead to workplace conflict or unhealthy rivalry.
  5. Discrimination or a hostile work environment.
  6. Personal experiences that affect team members’ attitudes and job performance.

 

5 Tips for Dealing with Employee Conflict in The Workplace

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No matter how much we’d all want it to be otherwise, philosophical and mental divides are inevitable, given that the very nature of humans themselves is to err. The challenge then becomes how to resolve disagreements productively.

Accepting and addressing workplace conflict via effective resolution procedures is crucial for an organization’s health and effectiveness. While it’s necessary to have conflict management strategies, any procedure’s success will rely on the willingness and understanding of all parties involved.

The following are some suggestions for improving one’s dispute-resolution skills in the workplace:

1. Specify What Kinds of Conduct Are Allowed

Assumptions may be dangerous. A clear understanding of what is and is not appropriate behavior might help reduce tensions.

Workplace conflicts may be avoided by adopting conflict management activities related to cooperation, team building, leadership development, and talent management, developing a framework for making decisions, and publicizing a delegation of authority statements.

Conflicts can also be avoided by clearly outlining roles and responsibilities and establishing a transparent chain of command that facilitates open lines of communication. Communicate openly and explicitly what is and is not acceptable.

2. Try to Avoid Workplace Conflict in The First Place

While avoiding every disagreement is impossible, we’ve found that avoiding workplace conflict in the first place is the key to successfully resolving them. You can prevent some confrontations if you actively look for possible conflict zones and intervene quickly and decisively.

If a disagreement does arise, you may lessen its impact by addressing workplace conflict swiftly. Spending time recognizing and comprehending underlying tensions might help mitigate friction.

3. Be Aware of the WIIFM (What’s In It For Me) Perspective

It is crucial to have an awareness of the WIIFM perspective of the other professional. Putting yourself in other people’s shoes before passing judgment is vital. Workplace conflict may be avoided by aiding others around you in accomplishing their goals.

If you approach dispute resolution from the standpoint of doing what is best for others, you will discover fewer roadblocks to a positive outcome.

4. Choose your Fights Wisely

Choose your fights wisely, and don’t get into an argument only to start one. However, if the problem is significant enough to spark an argument, it is certainly substantial enough to remedy. People will do what it takes to bridge philosophical or positional divides if the topic, scenario, or situation is significant enough and the stakes are high enough.

5. View Workplace Conflict As An Opportunity

Almost every quarrel contains the seeds of a significant educational opportunity. As long as people are willing to disagree with one another, there will always be room for improvement.

If you’re a CEO, you’re losing out on a fantastic opportunity if you don’t use conflict management strategies to strengthen your team and leadership skills. When handled appropriately, contrasting viewpoints may spark creativity and new insights in ways that would otherwise be impossible. Good leaders can always find something positive in a variety of perspectives.

5 Examples of Effective Workplace Conflicts Management

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The following are scenarios where disputes may arise in the workplace and some solutions that a manager might use.

1. Conflicts Over Specific Tasks

This is the problem that crops up in teams if one person delivers information that another team member needs to do their share of the work late. If this happens often, the team member being held up may begin to feel disrespected.

Having an understanding of who is responsible for what may help to settle this conflict. To better understand how workflows might achieve excellent synchronization, it is helpful to clarify the processes they employ to complete their duties.

2. Conflict With the Manager’s Management Style

Conflicts between managers and workers may arise even when everyone involved is doing their best.

For instance, a boss with a strong type A personality can set lofty objectives for a subordinate, causing the latter to feel overburdened. Or a boss may like to be hands-off, while an employee may need more excellent supervision.

The goal of the conversation should be to work together toward actual answers, so be careful to set clear boundaries and ensure everyone involved knows this.

An example of this workplace conflict is asking workers who seem overburdened by their responsibilities to create a spreadsheet outlining their obligations and providing rough timeframes. It’s common for managers to have weekly one-on-one sessions with each employee.

So, the subordinate and the manager may assess the current workload and figure out how to delegate or improve efficiency. Maintaining open communication lines between staff and management is crucial to improve teamwork.

3. Conflicts Arising from Performance Reviews

Collaborate one-on-one with the worker to map out a strategy for enhanced performance, complete with measurable goals and timeframes. Get your staff involved in goal-setting by asking for their input.

4. Personality Conflicts

It might be challenging to collaborate with individuals who have different styles and personalities than your own. People need to be shown compassion and understanding since one bad experience does not define them.

One of the finest things to do when working with a personality clash is to sort out and resolve the matter informally as soon as possible before it escalates.

5. Discrimination

One of the most severe types of workplace conflicts is discrimination. Practically every crisis calls for the intervention of human resources.

The number of discrimination claims filed in the United States in 2020 was 67,448. Managers and the organization need to emphasize the importance of diversity and tolerance as soon as a claim is made.

Next, managers should give the complaining worker their entire attention without interjecting or conflating, initiate a conversation about the problem and establish concrete, attainable objectives for resolving it.

Conclusion

Wars create rifts among people. Poorly managed conflict may have far-reaching and devastating consequences. Loss of motivation, efficiency, calm, and cooperation are just a few of the many benefits businesses and people suffer.

Issue resolution is an ongoing process, and as we develop our abilities and experience success, we may look forward to the next conflict and the next lesson, hopefully with a greater understanding of how to handle it and more confidence in our abilities as a result.

Looking for a way to upgrade your employee management system? Book a call with our experts today!

5 Hacks to Boost Employee Performance with Constructive Feedback

Constructive feedback acts like oil to a business’s running motor. Here’s how to boost your staff’s performance with helpful criticism.

According to PwC’s employee feedback survey, 62% of workers surveyed wanted feedback at least once a week, with that percentage rising to 72% among workers under 30.

Frankly, there are a wide variety of barriers that prevent managers from providing employees with the feedback they need. However, putting aside the justifications, feedback is valuable, actively and publicly wanted, and has a tremendous effect in the workplace.

Constructive Feedback Increases Motivation

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Imagine working in an atmosphere where you had no clue about your progress. A place where you did your best without knowing how well you did or where you could improve.

Staff members are simpler to encourage when they gain pride in their accomplishments and are more invested in improving their weaknesses due to receiving and processing relevant and constructive feedback at work.

Having an understanding of one’s own strengths and weaknesses is a powerful tool for inspiring staff members to strive for continuous improvement.

For example, supervisors have the option of creating a Skill Matrix to use in assessing their staff members.

You can generate a Skill Matrix by rating each employee on a set of predetermined talents. A straightforward scale, such a 0–3 scale, would be appropriate for ranking this. The following scale is one example:

0 = No capability

1 = Basic capability

2 = Intermediate capability

3 = Advanced capability

To help you get started, here is a basic matrix template; feel free to modify the form based on your own requirements.

Although not being the easiest approach, it’s preferable to utilize 360-degree feedback, in which information is gathered not just from workers but also from their peers, superiors, and customers. It’s possible to get a more complete picture of each worker’s abilities after you include in their background and experience.

5 Hacks For Giving Feedback That Motivates Employees

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Whether a novice manager or an old pro, you must master providing constructive feedback that encourages growth rather than stifles initiative. If you want to remember these skills, here they are:

1. Have A Growth Mindset

Remember that each feedback you give an employee is a foundational component in their professional growth. Honest employee feedback won’t hurt your relationship with subordinates.

Harvard Business Review research conducted by Zenger/Folkman indicated that most respondents (57%) want to hear critical comments rather than favorable ones. Another 92% agreed that providing constructive feedback at work may help people improve their jobs.

Companies like Hotjar used a five-part employee feedback system to maintain high productivity among its software engineers, marketing, and other team members.

Having several channels via which employees may have their voices heard is made possible by the variety of input they provide. Employees who have practiced self-criticism via introspection are more equipped to receive and act upon input from others.

Hotjar’s feedback features, taken as a whole, amount to an employee feedback system with a wealth of information and possibilities.

2. Pay Attention to Improvement

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To be effective with people of any personality type, you must provide helpful rather than scathing employee feedback. Focus on the future rather than the past. Instead of saying something like, “This and this didn’t go well,” try something like, “Next time, if we adjust or add this, I think we can increase performance on this project/task.”

Your staff will use this as a signal to keep trying new things; mistakes are the pathway to success. As a first step in fostering a culture of innovation in your business, getting rid of the stigma associated with making mistakes is crucial.

3. Boost Their Inspiration

The most accessible approach to accomplish this is to assist them in identifying their own personal qualities and achievements.

Google is a clear example. Rather than focusing on annual evaluations, the company has always placed a premium on continuous feedback and goal-setting for its workers. The idea is that everyone involved would benefit more from using that time to further professional growth.

Managers at Google work side-by-side with their direct reports to help them establish and accomplish their professional objectives. Even Larry Page, one of the business’s co-founders, follows this strategy, setting quarterly goals for himself and the company.

Therefore, what happens?  Google has been recognized as one of the finest places to work by Fortune and the Great Place to Work Institute year after year.

4. Avoid Project Cancellations

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Employees’ enthusiasm for a new project may be a powerful source of inspiration and productivity. In contrast, workers might swiftly sink to a low degree of disengagement if their work is never published despite putting in long hours and missing out on social events.

Consider some alternative applications for this. It may be assigned as a bonus task or a unique initiative for the next quarter.

Remember that companies like Atlassian and Google gained notoriety by allowing workers 20% of their time to pursue innovative, autonomous ideas. Most of these initiatives produced new money-making capabilities.

5. Allow For Innovation

To solve an issue, only some people use the same method. The most excellent strategy to encourage creative thinking is to remove barriers to attempting new things (including the stigma associated with making mistakes).

A famous example is Netflix. The undisputed king of TV streaming services is recognized for its vibrant, feedback-focused workplace culture. In fact, on its “Netflix Culture” recruitment website, the word “feedback” is featured 11 times. This website also defines the company’s five cultural principles, which shape employee thinking and behavior.

These guiding principles inspire Netflix workers to exercise agency, creative problem-solving, and teamwork and to communicate distinctive views or dissent.

By supporting a variety of opinions, the organization encourages transparent idea exchange and high-level success. Another research by HBR indicated that companies with high levels of inherent (demographic) and acquired diversity outperformed their rivals.

In these companies, workers were 45% more likely to say their firm’s market share expanded last year and 70% more likely to say it grabbed a new market.

Conclusion

Learning how to provide constructive feedback takes time. A reliable feedback system will take more than a day to set up. But if you stick to the methods mentioned above and reward employees for their efforts, you should see improved productivity and morale in your company over time.

Having a hard time improving employees’ performance? Talk to our consultants now.

Recruitment and Talent Acquisition: Understanding the Difference

Recruitment and Talent Acquisition. These terms are often used interchangeably. Understanding their differences will allow you to make better hiring decisions.

Reports show recruitment difficulty is 67% – up from 52% in June 2021. As the workforce becomes more competitive, organizations are looking for ways to stay ahead of their competition.

It’s crucial to know the difference before filling a role. Recruitment and talent acquisition are two different strategies that work together to help you fill roles at your company. Recruitment is focused on finding candidates and attracting them to your open positions, while talent acquisition focuses on assessing their qualifications and deciding whether they’re a good fit.

Let’s take a closer look at recruitment and talent acquisition to understand how these strategies work in the hiring process.

What is Recruitment?

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Recruitment is the process of identifying, attracting, interviewing, selecting, hiring, and onboarding new employees. This involves assessing staffing needs to fill open positions within an organization.

Recruiters typically work with a variety of different tools and techniques to identify and attract potential candidates for a given position. This may include job postings on online job boards, networking events, using social media to target talent, finding passive candidates, and employee referral.

Once potential candidates are identified, they are typically interviewed and evaluated by a team of recruiters or hiring managers. Finally, once an appropriate candidate has been selected, they are successfully hired and onboarded into the organization and their corresponding department.

When Is The Best Time To Do Recruitment?

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1. You Require Certain Skill Sets

According to Monster’s latest research, 41% of recruiters reported that the biggest challenge they face in screening candidates is assessing their skills during the interview. Recruiters use interviews to determine if the candidate possesses certain skill sets like:

  • Technical skills such as programming or data analytics, software proficiency, technical writing, and project management, or
  • Soft skills, such as leadership and communication abilities, problem-solving skills, critical thinking, time management, and interpersonal skills.

Whether it is a strategic need for an organization or an immediate opening due to turnover, recruitment serves as a way to attract the right candidates for these roles.

2. Filling Immediate Vacancies

According to LinkedIn, 10% of employees leave their jobs within the first year. When employees leave their jobs for any reason, whether it be to retire or resign on short notice, recruiting will help an organization find and hire replacements quickly.

When you hire, you already have a specific idea of what kinds of skills and abilities you need. You also have an idea of what kind of tasks the employee will perform and what kind of background experience the position requires.

3. Focus on Current Company Needs

A third reason why organizations do recruitment is to meet their current company needs. It can be divided into three types:

  1. Planned recruitment can be used to fill open positions as a result of organizational changes, such as when employees retire.
  2. Unexpected recruitment is used to fill positions because an employee left to pursue other opportunities, retired early, died, or was injured.
  3. Anticipated recruitment is used to fill positions by looking at trends in your external environment (for example, there are a lot of young people graduating from college who would be good candidates for your company or you have several employees who have been in the same position for a long time)

Effective recruiting requires executing repeatable processes that will lead to reliable results that contribute to achieving sustainable business goals. Hence, to find a valuable candidate, you require sophistication to think outside the box to find your ideal candidate.

What is Talent Acquisition?

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Talent acquisition refers to the broader process of identifying, attracting, and hiring top talent for an organization.

Unlike recruitment, which focuses on filling specific open positions, talent acquisition is a more strategic approach that involves identifying talented individuals who may be a good fit for the organization at a later date.

This can include creating long-term strategies to attract and retain talent, as well as implementing targeted recruiting campaigns focused on specific talent pools. Many organizations also use sophisticated analytics tools such as:

  • iCIMS Talent Cloud
  • Greenhouse Talent Acquisition
  • Breezy HR
  • Jobvite
  • Roho Recruit
  • SAP

These tools help them identify and source potential candidates, as well as optimize the hiring process to improve their success rate.

When Is The Best Time To Do Talent Acquisition?

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1. You Require Niche Talent

One reason why organizations may engage in talent acquisition is to find individuals who possess niche skills or competencies. These industries and their corresponding job posts deal more and more with technology, such as cybersecurity, cloud infrastructure, software development, AI, and Virtual Reality.

By focusing on acquiring top talent across a range of areas, organizations can ensure that they have the necessary skills and expertise to achieve their business goals and succeed in today’s competitive market.

2. Addressing Changing Business Needs

Organizations may focus on talent acquisition to address changing business needs over time. This may involve identifying talented employees who can help the organization navigate any challenges that may arise, such as market shifts or new trends in the industry. Tina Unnikrishnan research believed that some of the new trends include remote interviewing, working on a contract basis, and the application of artificial intelligence to enhance methods of sourcing.

By building a strong talent pipeline and having access to top talent, organizations can be better prepared to respond to and take advantage of these changes when they happen. They will be able to:

  • Save time in actively recruiting
  • Get to know candidates if they will fit in the company’s culture
  • Potential candidates will have a higher probability of wanting to be part of your team
  • Higher retention rate

3. Attracting Top Talent

Finally, many organizations engage in talent acquisition to attract and retain top talent. This involves building strong relationships with potential candidates to establish a pipeline of high-potential employees. You can also use advanced recruiting tools and strategies such as social media campaigns like lead generation ads, and employee referrals.

By offering competitive rewards and benefits, organizations can differentiate themselves from competitors and attract the best and brightest employees to join their teams. 80% to 90% of talent change their minds about a role or a company based on candidate experience. Thus, the company has the power to win or lose out on great talent.

Recruitment VS Talent Acquisition – Which Should You Focus On?

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In conclusion, talent acquisition helps attract and retain top employees over time. Your organization’s goals and the current competitive landscape determine which approach you take to attracting and retaining top talent.

Recruitment is an unbent process that involves searching for specific contenders to fill specific positions. The main function of recruiting is to look for talent based on the requirements of a particular job opening.

With the help of Trust Recruit, you can feel confident that your recruitment process will be simple and straightforward. Trust Recruit from understanding the needs of every organization to the employee’s first day of work.

Work with the Trust Recruit team, contact us today.

7 Steps to Craft the Perfect Candidate Profile for a Great Hiring

The Undercover Recruiter recently reported that improper hires can result in expenditures of $240,000. These are divided into hiring, salary, and retention expenses. Furthermore, according to CareerBuilder, almost three-quarters of businesses that made poor hiring reported losing an average of $14,900. 74% of employers claim they made the wrong hiring decision.

That said, businesses and the human resource departments can be under a lot of stress in 2022. Everything needs to be completed more quickly and effectively than before. Hirers are investing in learning how to refine their candidate profiles to become corporate matchmakers in such a competitive market quickly.

Making a candidate profile is one tool that could assist you in human resource management. Learn what a candidate profile is, how to develop one, and advice for producing strong candidate profiles in this article with TrustRecruit.

What is a Candidate Profile?

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A candidate profile meaning a written description of the ideal applicant for a position that is open in your business. A candidate profile resembles a job description. The candidate profile describes the ideal qualities the perfect employee would exhibit, just like the job description describes the specifics of the position and its criteria.

The Candidate Profile template is intended to highlight discrepancies between a candidate’s development and the criteria for a post. This will enable your business to determine development demands and, as necessary, offer unique growth chances.

Why is the Candidate Profile in Recruitment Important?

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Think about these tremendous benefits of employing candidate profiles in recruitment procedure:

1. Makes job descriptions stronger

To identify the best applicants for your consideration, sources and human resources department use candidate profiles and job descriptions in tandem.

Writing a job description that details the education and experience required to do the job correctly is considerably more straightforward when you are clear on the kind of person you want in the role.

2. Enhances sourcing strategy

You can better plan your candidate sourcing if you are aware of characteristics about your prospective applicant, such as their degree of education and previous job experience.

Instead of searching through every possible recruitment channel to find someone with the right qualifications, the human resource department can concentrate on hiring channels that will yield applicants as described in your candidate profile.

3. Provides better results

In the end, developing a candidate profile in recruitment should result in a smoother hiring process and better workers. Your recruitment staff should be able to locate better caliber prospects by using a candidate profile, guaranteeing that you choose the best candidate for the job.

Please keep in mind that establishing an ideal candidate profile can be difficult, time-consuming, and fraught with danger if done incorrectly. With years of recruitment expertise, Trust Recruit provides a tailored approach that guarantees that only qualified applicants are shortlisted for the interview stage. Learn more about our services and process.

7 Steps To Build An Ideal Candidate Profile

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It takes time and thought to create a candidate profile. Use the 7 following steps to create the perfect candidate profile for any available roles in your company:

1. Determine the main responsibilities

Finding out the primary responsibilities of the available position is the first step. Ask any present workers doing the same jobs about their regular obligations and occasional or as-needed tasks.

Consult the position’s manager or any other direct reports if there are no other employees in the function. To understand what additional responsibilities you might want to put in the role, you can also look at the job descriptions of your competitors.

2. Evaluate the business culture

The available position’s work responsibilities are only one aspect of the complete candidate profile. According to TeamStage, company culture is an important factor for 46% of job seekers. In addition to that, a culture that attracts high-caliber employees leads to a 33% revenue increase. With that being said, your business’s culture, mission, and vision should also be considered.

You want a candidate who gets along well with the present staff and uphold the company’s core principles. To determine what type of talents and characteristics might fit well, observe the interaction between current employees. Review your mission statement and values to assist you in deciding what qualities to seek in a candidate.

3. Analyze key staff performance

You might look to your existing top achievers to assist you in determining what an excellent applicant looks like for your company. Of course, the position you’re trying to replace could be in a different department with unrelated duties and responsibilities.

However, when developing your candidate profile and recruiting new candidates, you can still identify and seek out the attributes you like in your best employees.

4. Assess the essential competencies

Review the list of responsibilities and obligations you made in step one. You may use the following checklist to establish precisely which hard and soft skills the candidate needs to have to do a good job:

  • Soft Skills – are generally correlated with social or emotional competencies and are regarded as non-technical talents, for example: Teamwork, Leadership, Time management, Decision making, etc.
  • Hard Skills – are more technical and frequently closely associated with a particular profession or occupation. Those are skills that can be learned such as Coding, Designing, Content Creation, etc.

5.  Set up your candidate profile

Write a persuasive paper that clearly defines your ideal applicant for the available position using the information you’ve gathered. This data can be arranged in whichever your hiring team thinks is perfect.

A visual chart that makes it simple to see the characteristics associated with each category, such as hard talents, soft skills, and job obligations, is preferred by some businesses. Others choose a job description complemented by a bulleted list of qualifications only. Work with your hiring team to design a document that benefits you and them.

6. Select the most effective sourcing channels

Determine which sourcing channels will provide the most qualified individuals. Popular networking and job search sites like LinkedIn, Glints, Indeed, and others have since dominated the job search and hiring landscape, but they still have limitations.

Recruitment companies could be more expensive than the platform or advertising charge for your job adverts. However, you can relax knowing that the various advantages outweigh the disadvantages of using them.

At Trust Recruit, we strive to provide the most time- and cost-saving HR and recruiting solutions specific to your industry. Get in touch with us today for deeper insights into your recruitment strategies.

7. Consult the candidate profile

Throughout the hiring process, refer to the candidate profile. One individual or a small team will utilize the profile throughout each stage of the prospect search process if your organization employs the full-cycle recruitment methodology.

Ensure each employee has access to the candidate profile and utilizes it to guide their hiring decisions if you have different staff members controlling each stage of the recruiting process.

Conclusion

A candidate profile can be a helpful resource for your hiring and recruitment efforts. Understand how to create an effective profile, and make sure that everyone involved in the recruiting process takes the time to consult the applicant profile for successful results.

Want more advice in maximizing your hiring process? Connect with one of our consultants today.

Riding The Great Resignation Wave in Singapore: What to Know

After consecutive lockdowns, something unprecedented happened – The Great Resignation. Large hordes of employees are resigning from their jobs. Industries are facing sudden spikes in manpower shortage.

When routine lockdowns were the norm, people had adapted to the flexibility afforded by remote work. Now that the world is less distracted by the pandemic and wants to reopen, employees are expected to jump back on the 9-5 bandwagon and continue from where they left off.

What is The Great Resignation?

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The Great Resignation is an idea proposed by Professor Anthony Klotz of Texas A&M University in 2021. It predicts many will quit their jobs after the COVID pandemic is over and life resumes normality.

As countries cautiously reopen their economies, businesses now find themselves operating in a whole new environment. The post-COVID workplace era is different, notably with the “new normal” being a hybrid work trend.

Why is The Great Resignation Happening?

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Microsoft found that over 49% of Singaporeans are planning to leave their company in 2021 according to its first annual Work Trend Index. Qualtrics found 58% of Singaporean workers are planning to shift careers in 2022, citing these reasons:

1. Re-evaluation of priorities

People are reconsidering their personal and professional boundaries. There is a re-evaluation of their emotional, mental, and physical well-being. This includes how they relate to their co-workers and bosses; alongside the brands they work with.

2. Lack of a clear career advancement path

Most entry to mid-level professionals seek careers that allow them a higher degree of autonomy and freedom.

Most employees want the ability to influence change within their companies and a clear future. Once employees no longer see a clear career path with their current employer, they may begin looking for a company that can offer them one.

3. Salary and employee benefits

Not surprisingly, top candidates leave their employers due to wage stagnation or minimal pay increment during their tenure. Although their employer may offer an annual merit increase or inflation adjustment, these talents see the potential to land a heftier salary by jumping companies.

How does The Great Resignation affect you?

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Employees between the ages of 30 and 45 saw the largest increase in resignation by 20% in 2020 and 2021. Increased workloads and stagnated hirings have given employees more flexibility in finding new opportunities. For them, the opportunity cost is low and the employment market is vibrant. Then the pandemic accelerates this process.

For Employees: Before saying “I resign”, consider this:

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1. Make sure you know what you want to do and what you don’t.

List your negotiables and non-negotiables so you can pursue positions that align with your goals. Scratch off any that do not meet your needs.

2. Advertise your hard and soft skills

When you are transitioning into a new industry, it is crucial to identify your skill sets. Hard skills are teachable skill sets that are easily quantifiable. Soft skills relate to the way you relate to and interact with other people.

3. Optimize your LinkedIn profile and resume

It attracts recruiters and hiring managers. This means creating a resume that is applicant tracking system-friendly and using various industry-specific keywords.

4. Network extensively

There is no timeline to networking. Connect with people where you are, as you can, to let them know you are searching for a new position. Approach human resources consulting firms and agencies.

5. Learn how to negotiate

Speak up for what you want. Negotiate the terms of your employment. Compensation is a prime consideration when you are deciding whether to negotiate the terms of a job offer. In the short term, you could end up feeling resentful if you settle for a job that you don’t think fairly rewards your skills and experience.

For employers: What can you do to incentivize employees to return to work?

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1. Be flexible.

A recent study by Slack found that flexibility is a key reason employees are attracted to the hybrid work model. Finding balance is easier in a flexible work arrangement. When employees have more control of their work schedules, they can free up time to take care of the things that crop up in their personal lives—whether it’s running an errand, picking up kids from day-care, or being home for a delivery.

2. Review your compensation and benefits.

Employees aren’t always looking for a higher salary (though that never hurts!).

If you are losing top talent to competitors, reflect on the competitiveness of your company’s total compensation package. Examine the benefits and perks you are offering beyond the base salary.

Examples include signing and other bonuses, increased base pay, decoupling of pay and location, and tuition reimbursement.

These strategies directly respond to market rates for labour and offer a quick return on investment for a role that must be filled immediately. They also provide a clear and tangible employer branding message.

3. Analyse your corporate culture

Employees want to feel like they are a part of an organisation that genuinely cares about them, the community they are in and the world at large. Think about the culture you have created to foster a diverse, equitable and inclusive environment with a greater purpose.

Where do we go from here (after The Great Resignation)?

People pursuing their passions and demanding better working conditions is a positive for employees and employers alike. Perhaps such demands are long overdue, as the norm of office work has been stagnant for quite some time.

As an employee, do not hesitate to voice out the struggles you are facing. There is nothing like a good conversation with your employer to iron out better alternatives.

If you are an employer, please know that people want to work, but they want to do so under different conditions. To quote Andy Warhol, “They always say time changes things, but you actually have to change them yourself.”