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It may be a brand new year, but will HR face the same challenges as in 2012?
In the first quarter of 2013, HR professionals can expect job hopping as employees move jobs after their Chinese New Year bonus, Ronald Lee, managing director of PrimeStaff Management Services, said.
“The start of the year is also when companies allocate their budgets, establish their hiring plans for the year, and begin their recruitment drives, which also contributes to the spike in hiring activity,” he said.
Other trends HR leaders can expect include a rise in contract hiring and the demand for more flexible working options as employees strive for better work-life balance.
Additionally, Lee said companies will focus on employee retention as a way to cope with the labour crunch driven by Singapore low unemployment rate.
“One talent retention strategy that organisations will be looking into is improving its compensation and benefits schemes,” Lee said.
Both employers and staff will have to remain realistic in 2013 and keep an open mind as it is neither an employers’ nor employees’ market.
“Similarly, recruiters should work with job seekers on their long-term career plans and not focus solely on salary packages,” Lee said.
“Taking a more holistic approach to the hiring process would help improve the retention rates of new hires.”