Employee retention is a critical issue as companies compete for talent in a competitive market. The costs of high employee turnover are immeasurable: from tangible costs such as monetary and training costs, high turnover rates are also related to overall lowered productivity, decreased engagement and employee burnout. In a competitive job market, employees are always looking for better places to work. This is most evident in the first few months of employment when employees d
With organizations of every size gradually adopting the hybrid model of work, employee engagement efforts must be increased to ensure employee retention, performance, and productivity. The Hybrid Model Pre-COVID-19 Even before the COVID-19 pandemic drove companies to adopt remote working, the concept of decentralizing employees was gaining traction. More and more companies could no longer deny the decreased costs in office rental after forgoing a traditional office space. Off
All hiring managers can agree that identifying key candidates from your competitors is the key to understanding what talent is needed to achieve future business growth in your organization. This is where talent mapping comes in. Talent mapping is an internal assessment to evaluate the readiness and performance of your current workforce against future developments. The goal is to identify high-potential employees whose future development aligns with your strategic priorities.
Hiring the wrong employee can incur heavy costs (between 5x up to 15x the annual salary of the incumbent). Make a poor hiring decision, and it may cost you more than that—your customers may start leaving you for good. A good hire starts with recruitment: which is often a time-consuming and process that requires strategic decision making and systematic selection. Here are 5 steps to keep that process efficient: 1. Effective Candidate Sourcing Effective hiring starts with a goo
As Covid-19 rips through the economy, all of us are left thinking: what will this hold for jobs in the future? Will we ever be the same again? However, the reality prevails: change is the only constant amongst a world of uncertainty. Singapore’s jobless rate had shot up to a 16-year high, at 3.6 percent, in 2020, while retrenchments - at 20,450 so far - were nearly double those for the whole of 2019. (Labour Force Survey, Ministry of Manpower Research & Statistics Department)