SEEK, having merged its Asia Pacific employment marketplaces – SEEK, Jobstreet and Jobsdb – will function beneath a single platform powered by SEEK’s world-class AI expertise, whereas retaining the person manufacturers. This integration brings collectively thousands and thousands of jobseekers and employers throughout APAC to attach extra of the precise folks with the precise work.
Because the main Profession associate in Singapore, SEEK goals to supply a complete suite of profession enablement choices starting from job listings, a resume database, bespoke profession assets, and firm profiles. The Jobstreet CareerHub, powered by seekMAX, is a brand new function designed to assist professionals join and develop. It’s an in-app platform that provides edutainment content material and a neighborhood discussion board. Right here, professionals can interact with one another and trade leaders, fostering ongoing studying and profession discussions. The purpose is to create a neighborhood the place people can frequently enhance their abilities and put together for the long run job market. This initiative not solely builds a extra future-ready workforce but in addition enhances the relevance of job matches for employers all through the area.
As a market chief, it facilitates regional job mobility, contributing considerably to financial development by connecting each job seekers and employers with alternatives – offering helpful information insights on job developments and labour market dynamics. By way of its companies, Jobstreet by SEEK performs a elementary function in fostering profession alternatives and enhancing the effectivity of the Asia Pacific employment ecosystem.
Introducing Jobstreet by SEEK’s Hiring, Compensation & Advantages Report 2024
The not too long ago launched Hiring, Compensation, & Advantages Report 2024, authored by Jobstreet, is an annual hallmark publication. The report captures information collected from 673 hiring professionals in Singapore in September 2023. It extensively covers hiring actions and holistic HR-related facets reminiscent of remuneration, annual leaves, normal advantages, and dealing situations amongst others.
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To make sure objectivity, the report features a various vary of industries and firm sizes. The info is meticulously analysed and weighed in response to Jobstreet by SEEK Singapore’s employer community, making certain a good illustration. Key findings from the report embrace insights into hiring developments throughout Malaysia, Singapore, the Philippines, Indonesia, and Vietnam, in addition to compensation benchmarks and developments throughout numerous industries and job roles. Moreover, the report affords an evaluation of advantages packages supplied by high employers and their methods to draw and retain expertise, making it a helpful useful resource for companies and job seekers alike.
Expertise administration methods and developments
Expertise administration is essential for attracting, retaining, and growing high expertise in aggressive markets. Consequently, corporations with efficient expertise administration methods are 2.9 occasions extra possible to succeed at management improvement, and 3.8 occasions extra possible to reinforce worker efficiency and productiveness and organisational innovation.
Whereas key expertise administration methods embrace providing aggressive compensation, fostering a constructive tradition, and offering development alternatives, it’s worthwhile to notice that worker motivation might be achieved by recognition and profession development – a movement that is still essential for retention. Particularly, 83.6% of workers, particularly among the many group of extremely motivated workers, consider that receiving recognition influences their drive to succeed at work. In the event that they obtain recognition typically, 77.9% of workers stated they’d be extra productive and engaged.
Furthermore, following the COVID-19 pandemic, versatile work preparations have develop into extra well-liked, permitting workers to work effectively whereas sustaining their work-life stability and well-being and enhancing job satisfaction. Consequently, conventional working fashions have develop into out of date, and a shift in the direction of hybridisation is perhaps inevitable. Moreover, prioritising range and inclusion initiatives additionally entice various abilities and foster an inclusive tradition, enhancing engagement and retention.
Due to this fact, efficient expertise administration entails a holistic method to satisfy the evolving wants of workers and organisations for sustained success in at the moment’s dynamic market.
Leveraging the insights of the Hiring, Compensation, & Advantages Report 2024 for higher expertise administration
The implications of the Hiring, Compensation, & Advantages Report 2024 for employers are important, providing actionable insights to optimise recruitment and retention methods. Understanding the intricate developments of the completely different markets is essential for gaining a aggressive edge in strategic recruitment. With a noticeable decline in confidence for the second half of 2024, attributed to larger uncertainty influenced by financial situations and international occasions, employers should adapt to altering landscapes.
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Massive corporations, that are extra inclined to conduct compensation and advantages opinions, ought to leverage this benefit to successfully entice and retain expertise. Furthermore, with the rising desire for hybrid office preparations, particularly in high-demand sectors reminiscent of expertise, corporations can improve their enchantment by contemplating the adoption of versatile work choices.
The report additionally sheds gentle on office stress elements, with the bulk (76%) score their corporations as reasonably demanding, citing heavy workload (34%), inadequate assets (27%), and lack of development alternatives as high stressors. To handle these challenges, employers can conduct complete worker satisfaction surveys and have interaction in advantages benchmarking to refine compensation and advantages methods, enhancing job satisfaction and fostering a aggressive work setting. Furthermore, fostering transparency in bonus pay-outs and prioritising leaves reminiscent of birthdays, household care, and parental go away can strengthen employer-employee relationships and assist worker well-being.
Trying forward, there’s a rising emphasis on versatile advantages, indicating a shift in the direction of extra customisable monetary perks to swimsuit particular person worker wants and preferences. Employers should adapt their methods accordingly to remain forward in expertise administration and create a horny office setting conducive to expertise retention and organisational success.
A glimpse into Jobstreet by SEEK’s Hiring, Compensation & Advantages Report 2024
Jobstreet by SEEK’s Hiring, Compensation, & Advantages Report 2024 affords essential insights into Singapore’s job market, highlighting deal breakers for job seekers, together with monetary compensation, work-life stability, and relationships with bosses. It additionally identifies Singaporeans’ preferences for hybrid work fashions over full-time workplace or distant work, emphasising the necessity for flexibility. Regardless of a reluctance to return to full-time workplace work, 38% are open to the concept, indicating a shifting hiring paradigm.
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Moreover, the report underscores Singaporeans’ desire for a standard 5-day workweek, aligning with international developments. These findings underscore the significance for employers to adapt their recruitment and retention methods to satisfy the evolving preferences of Singaporean employees, providing versatile work preparations whereas additionally making certain a constructive office setting and aggressive compensation packages.
To achieve extra detailed insights and actionable methods, obtain Jobstreet by SEEK’s Hiring, Compensation, & Advantages Report 2024 for additional data.
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This text is produced by the e27 staff, sponsored by Jobstreet
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