Being an employer of choice involves going beyond superficial branding.

Even as some companies are slowing down or freezing hiring due to fears of a global recession, others are ramping up talent acquisition as the countries within which they operate emerge from the pandemic. As such, talent attraction and retention issues continue to dominate discourse in the business world.

The Great Resignation, the Great Reshuffle, and skills and manpower shortages in several sectors have converged to drive home the importance of being an employer of choice, whether in an employers’ market or employees’ market.

However, efforts must go beyond superficial branding. Companies must know what the best professionals in the business are looking for and tailor their policies and company culture accordingly.

At PeopleSearch’s recent event in Singapore, Re-engaging Talent in a Post-Covid Reality, three experts offered their opinions and strategies.

In countries such as Singapore, population growth issues play a key role in the manpower landscape.

“With an ageing population, It’s going to be a continuing challenge to find people, constantly engage them and make sure they stay,” said Member of Parliament and National Trades Union Congress (NTUC) Assistant Secretary-General, Patrick Tay.

As such, in the middle of last year, the NTUC-Singapore National Employers Federation (SNEF) PME Taskforce surveyed 10,000 PMEs (Professionals, Managers and Executives) in Singapore from various sectors in order to get a sense of their biggest fears, anxieties and concerns. The report revealed job security and greater support in terms of career progression and development opportunities ranked the highest among PMEs’ concerns.

THE MEANING OF JOB SECURITY HAS CHANGED

“When it comes to job security, even younger people who are digital natives, are very aware that rapid changes in technology could further shorten the half-life of skills,” said Patrick.

Vice President of People and Culture at NCS, a multinational information technology company headquartered in Singapore, Gerard Koh pointed out that this means the definition of job security has changed over the years.

It certainly does not mean a job for life in a single company.

“The basis of job security these days is skills. Those with skills will have better mobility across companies and industries and that’s what they want,” he said.

As such, employees are likely to gravitate towards companies that provide them with opportunities to deepen and develop new skills through new and challenging assignments and lateral moves within the company. And even if they decide to leave at some point, they are likely to remember their former employer fondly and consider returning one day.

COMPANIES ARE NOT DOING ENOUGH

However, according to various surveys while companies are aware of employees’ concerns about the threat of disruption, they don’t seem to be taking enough action. While individuals can take it upon themselves to upskill and reskill, companies that support their employees on this journey will stand out.

“The adoption of learning and development has increased quite a bit. The one major impediment for companies to support skills acquisition is that many of them are busy with day-to-day operations, especially SMEs and start-ups. But moving forward, companies have to put this in the forefront. People want multiple deep skills not just one deep skill,” said Patrick.

Ultimately, investing in employees’ development benefits companies. Because of the shrinking workforce in many parts of the world, companies can no longer expect to hire “plug-and- play” talent. As experts have said for several years now, companies should hire for attitude and aptitude and train for skills.

ENABLING UNCONVENTIONAL TALENT

Gerard Koh of NCS encourages putting in place enablement programmes so that such individuals can thrive.

“A proper induction programme is vital, so that when they come into the company, they’re not lost just because it’s a new industry to them. Assign coaches to them so that they can gain the right skills quickly and excel,” he said.

When these individuals excel, leaders will become even more willing to welcome diverse job candidates whose experience can bring value to the business.

Employers should also be open to hiring unconventional talent. CEO and Founder of biotech firm, Veredus Laboratories, Rosemary Tan believes in assessing candidates beyond their CVs.

“I met a medical doctor with a background in managing regulatory issues, but she wanted to go into sales. After our meeting, I realised that this is something she could be really good at so we gave her a chance and she turned out to be extremely successful.”

Rosemary’s talent hunt often extends beyond open positions.

“If you spot a talent, even if you don’t have a position open, create one because that could lead to a new revenue stream,” she said.

It’s vital that leaders encourage such a culture within organisations.

To achieve remarkable results, companies’ approaches to talent acquisition have to be equally remarkable.

In our next instalment, we’ll look at how you can create opportunities for career discovery and choice.