The Monthly Hiring News Round-Up For Recruiters: May 2019

Newspaper of World Business Page B3

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When it comes to HR, especially high-volume recruitment, it is important to stay updated with the latest developments in hiring and research. Each month, our GrabJobs team collates the most relevant hiring and recruitment news for recruiters in Singapore; read May’s version, consisting of articles from the month of April, below:

1) Q1 2019 Statistics Shows Increased Employment For The Service Sector

The ‘Labour Market Advance Release First Quarter 2019’ was released last month by the Ministry of Manpower (MOM), and the data shows that employment growth was limited to a few  sectors, mostly in the service industry: Community, social & personal services, administrative & support services, professional services, financial services, and transportation & storage roles. This indicates that the labour market held up, with unemployment continuing to be low.

This is encouraging for job candidates looking for roles in administrative roles and transportation roles, and showcases the effectiveness of recruiters and companies who are looking to hire and fill roles in the service industry. This is bolstered by the numbers that show that retrenchments in the service industry also declined.

2) Singapore Retains Region Best In Talent Competitiveness

The results of the Global Talent Competitiveness Index (GTCI) 2019 were announced last month, and Singapore has been awarded second worldwide, right behind Switzerland.

As per HR in Asia, this year’s theme for the annual benchmarking report was ‘Entrepreneurial Talent and Global Competitiveness’, and it ‘attempts to identify the ways in which companies, countries, and cities can foster entrepreneurial talent which makes up a critical component of competitiveness and innovation, and will become even more so in a fast-paced world of digitisation and globalisation.’

In the Asia Pacific region, Singapore has retained its first place for the 6th year in a row, earning the highest ranking in three pillars – Enable, Attract, and Global Knowledge Skills.

3) Ministry of Manpower Explains 3W Framework For Workforce

Minister of Manpower, Josephine Teo, gave her May Day message a few days ago, and provided updates on workforce schemes such as the WorkPro and Special Employment Credit schemes, the Adapt and Grow Initiative, and the benefits of programmes such as SkillsFuture.

At the same time, as per Human Resources Online, she spoke about the 3W Framework (Workfare, Workright and Workcare), which aims to provide more support to low-wage workers. Specifically, the ‘Workfare Income Supplement will boost the incomes of some 440,000 Singaporean workers by up to 30%’ by supplementing their incomes.

4) Employer Rankings Report Tracks Global Hospitality Motivations

The 10th edition of the Young Hoteliers Summit Employer Rankings Report was made public today, and it displays some interesting data on the motivations and career paths of hospitality graduates.

As per Hospitality Insights (from Ecole hôtelière de Lausanne), globally, traditional hospitality is still the most popular choice for graduates, even as it declines in popularity over the years. ‘Job hoppers’ appeared frequently in the report, but their motivations went past beyond the basic ‘low salary’ excuse. Instead, ‘Intrinsic motivators such as Career path and Advancement, Training and Development and Empowerment and Responsibility were cited as most critical motivators for job retention (salary only appeared as the fifth motivator)’.

Hospitality graduates also formed their opinion of employers through traditional methods such as campus fairs and university visits, showing the importance of in-person recruiting fairs at schools.

For more news and recruitment industry information, follow us on LinkedIn, or post your jobs for free on our GrabJobs Employer Platform.

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