85% of Singaporeans will be looking for a new job in 2014, according to 2014 Market Outlook survey by jobsDB, an online job portal in Singapore.
Competition for talent and wages are expected to increase in 2014 and employers will be challenged with a reduction in the talent pool.
The Singapore economy will continue expanding in 2014 and the unemployment rate will continue to be low at 2.1%.
41% of respondents expect more jobs to be available this year as compared to 2013. 19% of employers expect to recruit staff; 67% will maintain staffing levels, and 3% said they would trim staff.
"To attract the right people to your brand, it is critical to reflect your company's values and stand out," said Sheldon Fernandez, general manager of jobsDB of Singapore and Malaysia. "The way you write your job description and present your company has to be consistent with this."
Understanding job seekers
jobsDB advises employers to understand job seekers to retain talent. 40% of the respondents rated generous salary as the most important considerations when researching potential employers.
'Overall reputation of the company' (24%) and 'reputation of the company for having a good work-life balance' (23%) were the other two important factors for respondents.
'Job descriptions and company descriptions' (28%), 'company profile on website' (27%), and 'friends and acquaintances who have worked for or are currently working in the company' (26%) are the three most important sources of information when researching a potential employer.
'Online search' (66%), 'word of mouth' (66%) and 'career fairs' (57%) were the three most effective mediums for communicating to job seekers.
59% of job seekers said they're not getting enough career advice. 'Friends and colleagues' (66%), 'articles found on job portals' (46%), and 'company websites' (46%) are the most credible sources for career advice.
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