Here's a round-up of the top HR new stories, updates and insights from the past month in Singapore.
🔵 The Importance of People Analytics, and Why it's Time to Invest in it
People analytics has come a long way — from something that was once used as a tool to respond to case-by-case scenarios, to one that now helps HR teams plan for the future of the business.
Read leaders views on why it's time to hop onto the people analytics train and the trends they see shaping the analytics game in Asia in the next one to two years.
🔵 Attracting and Retaining Skilled Tech Candidates Amidst a Talent Shortage
As hiring activity picks up across sectors and professionals look to switch jobs, one thing is clear - there is fierce competition for skilled talent, and tech talent still comes up top in demand.
Beyond the digital push from the pandemic, more companies are evolving their strategies and processes to focus on users’ internet behaviours - or the idea of how, when and why people use technology. In order to leave their digital footprint in an impactful way to gain more brand awareness, businesses are collecting and capitalising on data more than ever.
🔵 Singapore Enhances Mental Health Support at Workplaces
The national task force on mental health will focus on stepping up resources for employees in the workplace. The task force is currently conducting a public consultation to seek views on its preliminary recommendations.
“The findings from the public consultation will enable the task force to refine the recommendations and develop a national strategy on mental health and well-being. Following this, indicators will be developed to measure the implementation progress and effectiveness of the strategy.”
Dr Janil Puthucheary
🔵 Most Employees Happy at Work – But That Won't Stop Them Quitting
Majority of employees are still satisfied with their current jobs, according to a new report, but this doesn't mean all of them want to stay.
A new report from SkyNova revealed that 89% of employees are satisfied with their current jobs, with majority of them still reporting satisfaction with the following benefits:
- Income (75%)
- Health & Dental insurance (71% & 64%)
- PTO (63%)
Still, this doesn't mean employees aren't considering switching employers anytime soon, as the report also found that 33% of workers plan to look for a new job in the next six months, with another 22% planning to search for a new position within the next year.
What could make employees stay?
🔵 Data-driven HR: People Analytics for the New World of Work
As big data continues to dominate today's global business landscape, the push to convert data analytics to people analytics is escalating.
Conventionally used by large enterprises and MNCs in predicting global trends and consumer preferences, increasingly, data analytics is being used by SMEs and HR teams in compensation and benefits, managing attrition and retention, and employee engagement. The global trend points towards data analytics being used beyond pulse surveys to include employee touch points throughout the employee journey.
🔵 21% of Singapore Employees Surveyed Likely to Switch to a New Employer in the Next Year
When asked about the most important factors for considering a job change, being fairly rewarded financially ranked first.
Of those surveyed, 21% of employees in Singapore admitted they are likely to switch to a new employer over the next 12 months — higher than the global percentage of 19%. Particularly, Generation Zs (18-25-year-old segment) are even more likely to do so, at 36%.
🔵 Preventing The Great Resignation & Employee Turnover in Your Company
Around the world, millions of people are rethinking how they work and live—and how to better balance the two.
A 2021 report by Michael Page on talent trends found that more than half (56%) of professionals in Singapore had plans to jump on new opportunities, and another one-third (36%) of employees said they were passively open to new jobs.
🔵 Why Compensation is Vital in The Great Employee Reset
As the way we work continue to change and evolve, employees are rethinking their priorities and the type of job and career they want in the future.
Organisations who are not paying enough attention to employee wellbeing and who are not offering the flexibility for employees to choose where and how they work, are likely to face an unwelcome talent drain.
🔵 The Employee Connection Crisis: 3 Ways Organisations can Address it
If technology has proven to make interactions easier, why are employees experiencing less connection to one another than ever before?
🔵 Gender Equality in APAC: The Best and the Worst
Overall, gender balance is still far from reach in APAC at any level, with women representing 17% of boards, 13% of executives, 19% of senior management, and 35% of the workforce.
According to a recent report by Equileap, women at the top of the corporate ladder in APAC continue to be scarce — only 4% of CEO roles and 5% of board chairs are filled by women, in this study which covers Australia, Hong Kong, Japan, New Zealand, and Singapore.
🔵 Singapore Aims to Retrain at Least Half a Million Mid-Career Workers a Year
Singapore is fine-tuning its training framework for mid-career learners to achieve better workforce outcomes, with a goal of retraining at least half a million working adults a year.
Part of what hold workers back are the various responsibilities they shoulder, such as work, financial, family and social commitments. To that end, efforts like personalised skills advisory services have been set up, with plans to improve outreach to help workers navigate the training programmes.