Increased Interest in Joining Start-ups Among Jobseekers: CareerBuilder Singapore�s Employer of Choice Survey 2018

• More than
  2 in 3 surveyed indicated interest and willingness to work in Start-ups
• Efforts
  of companies who offer holistic employee packages and work culture pay off as
  Top 10 Employers of Choice see minor shifts

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SINGAPORE - Media
OutReach - 30 January 2019 - As the
competition heats up between organisations to attract and retain talent in the
tight labour market, companies who have consistently invested providing
attractive employee packages as well as a strong work culture remain Employers
of Choice. The interest and willingness to work for Start-Up companies is also
seeing a steady increase. These are among the key insights from CareerBuilder
Singapore’s Employer of Choice Survey 2018, which saw over 3,000 respondents.

 

“As companies
recognise the importance to position themselves as Employers of Choice, the
process will take time. Organisations who make the conscious effort to understand
the attitudes of their employees, so that in turn they are able to cultivate a
workplace culture and develop an appealing employer brand, will have an
advantage in attracting and retaining talent in the long run,” said Premlesh Machama, APAC Region President
of CareerBuilder Singapore.

 

Building a
Reputation and Work Culture Pays Off

Minimal changes were
seen among the employers that respondents want to work for, or remain at. The
Top Private Employers of Choice remained the same for 2017 and 2018, with
tech-giant Google in top place for the fourth consecutive year. As for
Government/Government-linked Employers of Choice, Monetary Authority of
Singapore and Singapore Tourism Board retained their titles as first and second
in the category. The Top 10 Start-up Employers of Choice saw Carousell and
Redmart at the first and second places for the third year running, while
Honestbee rose one position to third place.

 

Similar to previous
years, remuneration remains
important — 88% of respondents said that the top trait of an Employer of Choice
was “offers attractive pay, bonuses, and other monetary compensation”. This was
followed closely by “offers good career
growth and opportunities“, which was selected by 87.7% of respondents.

 

However career growth and culture-related reasons appeared to be more important to warrant a
change of jobs.  The lack of career
growth was cited by 66.1% of the respondents as the top motivation to switch
jobs, followed by unhappiness with superiors (44.9%) and “an unfriendly work
culture” (43.7%).

Increased interest
in Start-ups

Working for a
start-up company continues to be popular, as 69% of respondents cited their
willingness and interest to do so, steadily increasing from 59% in 2016, and
68% in 2017. Compelling reasons include a perceived availability of learning opportunities (82%), the
ability to work closely with a group of passionate
and enthusiastic colleagues, and an exposure to a wide spectrum of job roles.

 

Those who would not
work in a start-up company cited the lack
of job security as the business may fail as the top reason (78%), more so
than getting a relatively lower pay (61%). 

 

Other key findings in the survey include:

• Healthcare and
  Medical Jobs preferred over Finance: The most preferred industry
  was Healthcare/Medical (21.1%), followed by Government and Education/Training
  industries. Banking/Finance/Investment fell five places from 1^st to
  the fifth.
• More realistic expectations among fresh graduates: Possibly a result
  of the slower economy and tighter employment market, there is a fall in salary
  expectations compared to 2017’s results. More respondents (27.4%) chose
  “S$2,500 — S$2,999” as their expected salary range, compared to 2017 where respondents
  chose an expected salary range of $3,000 to S$3,500. A slightly higher
  percentage of fresh graduates indicated “five years” as their expected time to
  become a Manager, as compared to “three years” in 2017’s results.  
• Staying with employers
  for the long run: Contrary to the common belief that graduates are job
  hoppers, this year’s results suggest that they desire to remain with the
  employers for the long run. More than half (55.1%) of graduates expect to change
  jobs no more than twice in the next 10 years.             

The Employer
of Choice Survey 2018 was conducted between May to October
2018, among over 3,000 working adults as well as tertiary undergraduates, aged
16 years and above. For more details on the Employer of Choice Survey 2018
or to find out more about CareerBuilder Singapore, please contact sg.enquiry@careerbuilder.com

 

About CareerBuilder
Singapore

CareerBuilder Singapore is part of
the CareerBuilder family – a US recruitment giant and a global leader in the
human capital solutions. Today, CareerBuilder has a global presence in more
than 60 markets and over 2,800 employees worldwide. 

 

CareerBuilder Singapore has a team
of more than 80 well-trained professionals. Our expertise is in working with
top employers across industries to help them with their recruitment process –
from acquiring to hiring. Coupled with our global resources and expertise in
the Southeast Asian talent recruitment arena, it helps us stay ahead of the
industry curve. 

 

CareerBuilder Singapore seeks to
provide our clients with an end-to-end delivery. Our expertise and experiences
include (but are not limited to):

• Innovative
  ready-solutions that can be fully customised to your unique business needs
• Integrative
  marketing
• Creative
  services
• Client
  management and fulfilment
• Product
  specialisation