Talent management is defined as the anticipation of required human capital for
an organisation and the planning required to meet such needs. An often heard sentiment among employers in Singapore is that it is becoming increasingly difficult for SMEs to recruit and retain top talent.
Rising labour costs, a limited pool of local highly-skilled labour and attracting and retaining younger workers were among the top HR challenges listed by firms, according to the National Business Survey 2017/2018 by the Singapore Business Federation.
Of those surveyed, about 84% of respondents were SMEs, while the rest were large firms. Yet, the challenge of hiring, training and retaining labour in a manpower-lean economy is no stranger to all.
THERE is an adage in business that people leave managers, not companies. Attracting and retaining good talent will remain a perennial issue for local businesses, big and small.
When companies don't have a 'brand' yet to sell the job, the duty falls on the founders / evangelists (you) to actively sell the role. You'll need to understand what each particular candidate is looking for.
Tapping on the right tech tools - like HR data analytics - can give companies a much-needed advantage when recruiting in an increasingly competitive marketplace.
However, most SMEs and startups don't possess the large financial resources required to procure these services - most of which come with a hefty price tag attached.
