A skills gap will remain, meaning foreign labour will still very much be needed, and more crossover roles for talent with broader knowledge will be in high demand.
Check out some of the other top talent trends for 2014:
Locals will begin to shift into more leadership roles
It’s not going to happen overnight, but it will happen. Whether the latest moves by the government to push Singaporean talent into the limelight will be effective in the long-term is yet to be seen, but there’s no doubt 2013’s focus on local, local, local is sticking with HR and business leaders.
We’ll continue to see more high potential employees progress their careers by moving into global roles – and the term “glocal”, if not already part of your recruitment vernacular, will become an increasingly-used term to describe desirable local candidates with global knowledge and experience.
Companies must get creative to retain staff
Speaking of career progression, 2013 saw more companies offering high performers the opportunity for new ventures and to learn new skill sets, which will continue well into 2014 and beyond.
With talent – particularly young talent – job hopping faster than you can say “you’re hired!” companies have no choice but to boost their career development programmes and strategies to keep the best on board. A huge part of this will be things like job rotation and lateral moves.
Data and analytics is a ‘must have’ skill for HR
If HR professionals are not able to translate raw data into useful people insights by the end of 2014, then your job may well be in jeopardy moving forward.
That’s not to say you need to become an analytics expert overnight, but you will need to prove proficiency for numbers and an ability to combine that with fantastic people intuition.
Foreign workforce is here to stay
A trends report by Hays states that the ongoing skills shortage in Singapore will mean a certain dependency on foreign skilled professionals will remain in 2014.
“The Fair Consideration Framework, set to come into effect from 1st August 2014, will place the hiring focus on ‘fair’ hiring practices and considering local candidates first where possible, but when domestic skills shortages exist foreigners will still be needed to fill the gaps,” said Chris Mead, regional director of Hays in Singapore and Malaysia.
It’s time to recognise
Employees have always expected a certain level of recognition, but I believe most employees now expect recognition as early as one year into a job. Engagement is boosted by recognition, so it makes sense that this is high on your 2014 agenda.
Ask your HR team these questions: Are you providing meaningful work? Do your staff have emotional support? Is your focus on wellbeing strong enough? Can you do more in the area of monetary compensation?
In 2014, technology will no longer sit in the domain of the CTO or CIO, but will instead integrate with both marketing and finance, says the Hays report.
“This integration of both technology with marketing, and technology with finance, will see staff in these departments become jointly responsible for outcomes,” says Mead. “It will create a need for people with multilevel hybrid knowledge.”
As a result of this, marketing and finance professionals will need to boost their technology skills to remain competitive in Singapore’s job market.
This article was first published on 16 Dec 2013 on Human Resources www.humanresourcesonline.net