Why should Singapore business care about personal branding?

Singapore has one of the fastest aging populations in Asia. More than a quarter of our current population, that is over 900,000 Baby Boomers, have begun to or are entering their silver years.

We are not only experiencing an unprecedented age shift but one that includes the evolvement of a new workforce. For a country where our people are our ‘natural resources’, learning to manage the fresh breed of emerging talents better will help to ensure that they continue to contribute to the economy successfully.

When it comes to talent management, one of the often overlooked factors is personal branding. If you think personal branding is primarily the concern of individuals and has no business at the organisation level, think again.
The successes of our organisations count on our people. Each of them is distinct. Each of them has different strengths.

To fully harness their potential, human resources and development plans need to be tailored for the unique individuals as much as possible. Treating them as a collective would be counterproductive. This is especially true for our near future workforce – the Millennials or Generation Y.

As we know, Baby Boomers are hardworking and loyal. Generation X are adaptable and responsible. However, the Millennials, who are predicted to occupy 50% the working population by 2020, value meaningful careers and personal growth. They are constantly looking for opportunities to improve their skills.

Managing them like you managed the Baby Boomers and Gen X will result in unfulfilled, bored, and unhappy workers. What happens when the Millennials are unfulfilled, bored, and unhappy? They go somewhere else. And they do! According to the U.S. Bureau of Labor Statistics, Gen Y has a median turnover of only 1.8 years.

Further, a survey of 12,115 workers worldwide by The Energy Project in 2013 found that many lacked a fulfilling workplace. 60% of those surveyed indicated that they do not have opportunities to do what is most enjoyed. Close to half (47%) responded that they are not given opportunities to do what they do best.

Back home in Singapore, a survey by Randstad revealed that almost half (46%) of Singaporeans are dissatisfied with their jobs.

It is no wonder we continue to battle the challenge of retaining staff, which remains one of the top challenges for Human Resources (HR) today. According to Ortus HR Asia Market Insights & Compensation Overview 2014/2015, the top two challenges for HR leaders in Singapore in 2014 are attracting talent and staff retention.

The thing is, we cannot ignore personal branding if we wish to better retain and manage the Millennials. Personal branding helps us to identify a person’s strengths, talents, and skills. We are able to pinpoint what makes each person unique and what values they bring to the table. HR and managers now have ‘personal’ insights to plan resources more effectively and achieve better job fit.

Moreover, we learn to appreciate the individual employees better. This is precisely what the Millennials are looking for – the opportunities to showcase and hone their strengths. It helps to boost morale and to build confidence.

Of course, it is not always possible to arrange a perfect match. Hence, organisations can also encourage employees to realise their skills and abilities outside of work. For instance, let your employees take part in volunteer work that your organisation help to arrange, or support them in their interests and pursuits.

Let's say a particular employee plays badminton competitively. One way of showing support is to make arrangements that allow the individual to take time off to practice and participate in competitions. Employees would certainly appreciate that they are given the chances and space to develop themselves.

With personal branding, employees also feel recognised and valued as individuals. Can you imagine the impact a collective team of motivated, appreciated workers can deliver for your organisation?

So, for Singapore organisations that are looking for employees who stay and contribute real value, consider adopting personal branding as part of your talent management strategy.