Singapore firms urged to expand worker variety amidst talent retention woes

Employers should cast wider nets to keep up.

Companies are currently at the crossroads of diversifying its work practices while simultaneously being on their toes in recruiting and retaining top talent.

A study conducted by Randstad said the regulatory environment implemented by the Singapore government also comes at the wake of an aging Singapore workforce, where one of every four working age people would be over 65 come 2020.

"In the face of these changes, employers need to be receptive to less traditional methods to fill talent gaps. These include nurturing graduates, offering more project work for contractors, or creating more flexible work arrangements such as compressed work schedules or enabling employees to telecommute," Randstad said.

Randstad also said the coming would be a fierce battle of talent driven by the robust economic growth of the city-state and with the nation almost at full employment.

“Employers will need to continue to broaden their employment strategies to keep pace with the restructuring of traditional industries, rapid technological change, and growing productivity and capacity constraints,” Randstad said.