The current economic climate in Singapore has brought in an increased number in employment competition. With more and more Millennials and Gen Z employees choosing only the right fit for their growing demands. The competition for the best talent gets tougher. Especially in competitive industries such as Finance, Tech, and Cyber Security.
As an IT recruitment agency in Singapore, we understand just how tough the competition for talents can be to some employees. We believe that managing the expectations employers have when it comes to hiring is the key to finding the right talent fit. In this article, we’ll discuss multiple different solutions to some common problems hiring managers and employers have when it comes to hiring.
A. Lack of Talent in the Hiring Pool with Specific Skill Sets
It is no secret that employers often complain about the lack of talent in the hiring pool. Additionally, research shows that there is a large skills gap and brain drain when it comes to talent in industries such as Finance, Tech, and Cyber Security.
Fortunately, the solution to this problem can be simple for most employers. Instead of looking outwards, employers should look internally for the ideal candidate. Lookout for candidates with transferable skills that the company can benefit from, and train them. This can also be an inexpensive solution, as companies will be able to make use of various government subsidies to fund the educational needs of your employees.
Some articles you might find useful include:
B. Employers Want the Perfect Candidate Without Training
Of course, it is no surprise that most employers would prefer to hire candidates only with the ideal educational qualifications and experience. In a perfect world, employers would only choose to employ the best candidates with formal training and the ideal years of experience in an instant.
However, there are many reasons to hire candidates with little to no experience. These reasons include:
The ability to be adaptable: If you’re considering hiring a candidate who is confident of their ability to adapt well to the organization. Especially a candidate with limited experience. This shows that the candidate has a strong passion for adapting to the situations around them. In these turbulent times, the ability to adapt is important. Candidates who can adapt quickly are also more likely to stay in the organization, even when the company’s goals and focus changes.
Benefit from the candidate’s fiery passion: Younger candidates (think: fresh graduates) are more likely to be eager and passionate about the company. Fresh employees are eager to please. They’re also willing to prove that they’re hardworking. Most importantly, these employees are willing to put in the hard work required to pick up the relevant skills needed. Experienced recruiters will know that nothing can stand in the way of passion.
Younger employees are innovative: It should come as no surprise that Gen Z employees are a lot more innovative than their older counterparts. Innovation is the key to driving any positive business progression. This could be one of the many reasons why more and more organizations are opening up to a multigenerational workforce.
In fact, research shows that more than 80% of organizations who choose to hire younger and fresher Gen Z candidates. The companies claimed that doing so generates better and more informative ideas between the employees.
Learn more about the benefits of hiring fresh graduates here.
Alternatively, if this sounds a little too troublesome. Or if your organization is on the lookout for an urgent job fill. Hiring managers should reward the perfect candidate with competitive pay and benefits. Fortunately, most Millennial and Gen Z job seekers are willing to accept more than just monetary benefits. Find out more in the readings listed below!
C. Not Knowing Where Ideal Candidates Look for Jobs
As recruiters in Singapore, we notice that a number of employers are not aware of where their target candidates hide. Job boards are a great place to start your search. However, most of the time this search proves to be futile. The search for the perfect employee lies in networking.
More often than not, talents in the Tech, Cyber Security, Finance are continually being headhunted on social networking websites. Going out into the field, and networking with the right people can give you access to better ideal candidate finds than simply searching for them online.
Best Solution: Outsource Your Organization’s Recruitment Needs
The best solution to resolving your recruitment and hiring needs is to outsource them to a trusted hiring agency in Singapore. Most recruitment agencies have developed a process that allows employers to find the right candidates. Utilizing the right job portal is only the tip of the iceberg. Other tools such as ‘Applicant Tracking Systems’ (ATS), access to recruitment software, as well as access to “ready-to-go” talent are often kept in a recruitment agency’s arsenal.
Leave the tough work to companies with the right tools. That way, your organization and HR team can focus on the other more important stuff. Sound good?
What are some other common misconceptions employers have about job seekers in Singapore? Share your thoughts with us in the comments section below!