APAC candidates are hitting the market with a list of requests and organisations are switching their approaches to fulfill them.
By Zee Johnson
The APAC job market is busy and it’s filled with candidates who know exactly what they want. To get their fair share of talent, organisations are ramping up hiring efforts. The RGF Talent in Asia 2022 report details current candidate needs and behaviours in several sectors across three major Asian markets, including Mainland China, Singapore, and India. Here are some top findings.
Jobseekers are Optimistic
When looking at sector outcomes in the next six to 12 months, 54% of respondents expressed optimism whilst more than one third (38%) remained neutral. Across all regions, the most optimistic sector was the healthcare and life sciences industry, followed by the tech, media, and telecommunications sector. Their level of optimism exceeded that of last year’s (47%), while those with a not so positive outlook fell by 27%.
What’s Being Valued
For workers in India and Singapore, a bigger focus is being placed on a company’s culture and workers are ready to leave their jobs because of it. Forty-two per cent of Singapore-based respondents and 37% of Indian respondents said they are looking for new opportunities because of management style/company culture. In China, candidates are placing more of a focus on training and development opportunities, as 45% are willing to submit their resignation if voided the opportunity for career progression.
Above all, one shared sentiment across regions is the want for more compensation. In China, 59% of candidates strongly consider salary and benefits packages when looking for a new job. In Singapore, the market of currently employed professionals who happen to be most satisfied with their compensation at 50%that number sits at 49% and 61% in India.
It’s no secret or surprise that hybrid work models, which became essential during the pandemic, are here to stay. And for many candidates, it’s a requirement.
Of the respondents, 70% of Chinese workers said hybrid work was most beneficial to their productivity. Likewise, 71% of India-based workers and 78% of Singaporeans said the same. For them, hybrid work allows for a greater work-life balance and more flexibility.
What Employers Can Do
For employers to attract the talent they desire, the report lists three key recommendations.
- Strengthen the culture. Studies have shown that remote work may run the risk of diminishing company culture. To avoid this, leaders can reskill management to properly manage a remote workforce, and update employee engagement efforts.
- What money can’t do it, flexibility can. Sometimes, a candidate’s salary expectations do not align with what a company is able to offer. However, work-from-home opportunities and flexible working hours that allow for a better work-life balance, can often sweeten the deal.
- Combat shortages with a wider search. The current demand for talent is higher than the talent that is available. Employers should invest in recruitment tools and processes that may quicken the hiring process and widen the talent search.