Thinking out of the box

Singapore – More flexibility and imagination is required by HR practitioners if they want to capture the right candidates.

In this employees’ market, job seekers are increasingly becoming ambitious. Other than a salary raise, they are also looking for opportunities to further their career and head into leadership positions. Hence, HR practitioners must be flexible and open-minded in order to offer the most attractive job packages to the best candidates.

According to the Robert Walters Global Salary Survey, more HR departments are getting creative in compensation and benefits packages. They are offering candidates flexible work arrangements, various bonuses and lifestyle incentives. HR practitioners are also setting in place career progression planning, training programmes, internal transfers and future staff planning to retain existing employees.

Although the first challenge is to successfully hire talent, Mark Ellwood, managing director of Robert Walters in Singapore says, "Ongoing development and internal incentive programmes are essential for retention and to ensure employees feel their career progression is being taken seriously.”

However, the benchmark for salaries is increasing due to the amount of counter offers employees receive when they resign. Companies are pressured to reassess their traditional salary bandings in order to entice the talent to stay.

Andrea Ross, director of Robert Walters Singapore said, “Candidates have been in the fortunate position to choose between different companies. Some individuals hold more than one job offer, and counter-offers or buy backs have become more common as companies fight to retain people.”

Ellwood adds, “Salaries have outstripped inflation and with the rising costs in Singapore, particularly around housing, salaries have had to move upwards to attract the best.”