How to recruit highly valued returning Singaporeans

Singaporeans returning from working overseas are more attractive than ever to employers in Singapore as they have a compelling mix of knowledge and experience of the local market along with global business acumen.

Returners' international study or work experience provides them with a Westernised perspective and knowledge of how to do business overseas. When combined with their understanding of the local culture, these candidates are particularly valued by both local companies and those multinational corporations that are establishing an Asian hub in Singapore.

Add to this the Singapore Government's policy of restricting foreign talent, otherwise known as the Fair Consideration Framework, and you can see why these highly-skilled locals appeal to both multinational and home-grown companies.

So how can your company successfully recruit a returning Singaporean? The greatest challenge you'll face is to avoid overpaying while still making sure you offer an appropriate salary to secure this valued global talent.

You should firstly make sure you remunerate appropriately for the candidate's skill and not for other reasons. While salary is a key factor, it's important to think about your overall offering and benefits package too.

Financial rewards aren't always the most important considerations for candidates. Our Singaporean Returners Report shows that talent can be brought home by family ties and career advancement opportunities.

It is therefore important to consult with your recruiter to gain a deeper insight into what motivates them, and with this knowledge you can tailor your offer to the candidate.

Employers should also work to retain the professionals they already have.

As 30 percent of returners are considering coming back to Singapore because they believe they will have a faster career path here, it is crucial to put a solid and individualised retention plan in place. This should include an open and honest discussion with candidates about their career development expectations.

Our survey also found that if they were to return, 26 percent of Singaporeans want to work in the financial services industry, 16 percent in IT/telecommunications, 12 percent in engineering, and 9 percent said in professional services.

Interestingly, 66 percent said they want to work for a foreign-owned enterprise if they return.

So what's the outlook for salaries in Singapore this year? According to the Hays Asia Salary Guide, 72 percent of employers expect business activity to increase in the year ahead with 48 percent looking to hire more permanent staff.

Interestingly, almost half said the skills shortage could potentially hamper operations. In terms of salaries, 54 percent of employers in Singapore will increase salaries by 3 to 6 percent, while 13 percent will offer increases above that level.

Finally, a total of 83 percent of employers will continue to give their staff benefits including health (61 percent), car or car allowance (40 percent), and life assurance (37 percent).