As Singapore’s workforce evolves in the dynamic landscape of 2024, the human resources (HR) industry is set to undergo significant transformations. The interplay of technological advancements, changing demographics, and shifting workforce expectations will shape the HR trends that businesses need to embrace.
In this context, it is essential for companies in Singapore to pay close attention to the latest HR developments and adapt to the emerging trends that will influence the way work is performed and talent is managed. Workipedia by MyCareersFuture brings you the key HR trends that will define the future of work in Singapore in 2024.
1. AI set to be a game changer in recruitment
As Singapore companies shift towards skills-based hiring, AI will prove to be a game-changer in overcoming human bias. In screening candidates, Applicant Tracking Systems (ATS) has played a role in overcoming unconscious bias, be it related to age, gender, or racial discrimination, thus benefiting the community and ensuring the selection of the best talent.
Jo-Ann Feely, global managing director of innovation at the talent solutions firm AMS, shares, “AI can help unlock equity in the job market by making candidates way more discoverable and by focusing not only on their current skills but also their adjacent skills and potential.”
2. More focus on employees’ career health and resilience
As the workforce faces unprecedented challenges, prioritising career health and resilience has become a top concern for employers. In his Committee of Supply (COS) 2023 debates in Parliament, Manpower Minister Tan See Leng stressed the importance of career health for Singaporean workers.
“Better career health is key to helping our workers move up the career ladder, stay current and employable, or switch to a new job that better matches their skills and interests.”
In a rapidly changing job market, companies are investing in upskilling and reskilling to equip their employees with the skills needed for the future. This proactive approach not only prepares the workforce for upcoming challenges but also ensures the company remains competitive in the long run.
Read More: Understanding Career Health, What It Means, and How You Can Monitor It
3. More companies to embrace remote work and flexi-work
The remote work revolution, accelerated by the global pandemic, is here to stay. Post-pandemic, 73% of companies indicated that they were likely to continue offering work-from-home arrangements, with 63% willing to allow employees to work from home at least half the time.
LinkedIn’s VP of Product Management for Talent Solutions, Hari Srinivasan, said: “For companies, it means being more open to change and creating flexible environments that work for your business — whether redesigning workspaces or rethinking culture and values to align with your employees’ changing needs.”
Employee wellness aside, adopting remote work makes for good business as well. A survey done by employment agency Robert Half revealed that 60% of Human Resources directors admitted seeing an increase in employee work productivity when staff are allowed to work remotely from home.
4. Widespread adoption of sustainability in the workplace
As Singapore looks to establish itself as a carbon services and trading hub, companies are increasingly integrating sustainability into their business practices, addressing environmental, social, and governance (ESG) concerns.
In addition to saving the planet, and going green Ng Ying Yuan, chief operating officer for Group Human Resources at DBS, shares:
“Organisations are increasingly looking beyond the pursuit of profits at all costs. Similarly, individuals are starting to see their jobs as more than a means to pay the bills and are instead seeking out purposeful careers.”
Companies in Singapore are aligning their values with sustainable practices. At the same time, many companies are also finding out that aligning ESG with employee values improves employee satisfaction, engagement, and wellbeing while improving talent retention.
Read More: Singapore’s Sustainability Sector: Leading the Charge to a Greener Future
5. More enhancement to the workplace experience
According to the Singapore National Employers Federation (SNEF), despite Singapore’s multicultural communities, managing workplace diversity is still a learning journey for many employers. Thankfully, SNEF’s report revealed that more Singapore employers (71% of those surveyed) recognised the positive impact of DEI on company culture, and 55% recognised its impact on employee engagement.
The report also found that about 62% of the employers surveyed have made a head start towards incorporating DEI as a factor in their hiring and promotion.
Workforce diversity, equity and inclusion (DEI) continues to be a focus for Singapore companies this year. With globalisation and demographic shifts, Singapore companies are continually making efforts to manage a more diversified workforce.
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If you need help with talent recruitment
Whether you’re managing a large or small company, improving your recruitment process will go a long way for long-term company success. Thankfully, with an advanced jobs portal such as MyCareersFuture, building an effective talent acquisition strategy is possible even with limited resources.
Employers who are using the MyCareersFuture portal can search for the right talent from among thousands of jobseekers using the portal. The Talent Search tool is specially designed to be user-friendly: simply type in keywords such as job titles or skills into the search bar, and a list of relevant candidate matches will be shown.
Good luck with your hiring!
