Singapore job seekers want more than money

Having up to six months of potential bonuses accrued is not stopping candidates from searching for a new job that can deliver more than financial gain, such as career development and progression. That’s one finding from the recently released Hays Quarterly Report, for the July to September 2012 quarter, which points to an active candidate market in Singapore.

Usually the potential impact of walking away from more than six months of accrued bonuses has a huge bearing on a candidate’s decision to change jobs in the second half of the year in Singapore. But this year candidates are more accepting of the reality that bonuses are not what they once were. They are also increasingly motivated to look for a role offering career development, progression or broader job responsibilities.

As a result, the Singapore candidate market remains active, although candidates will typically wait for a role that ticks all their boxes, particularly in relation to career development and progression. They are also increasingly looking to expand their skills and expertise on exciting new projects. They want to work on the signature projects within their field or with the global powerhouses of their industry.

There has also been a spike in candidates with transferrable skills in Singapore, such as in the call centre market, wanting to try different industries to broaden their skill set.

But those candidates whose motivations are purely financial and who are asking for above market salary increases find that employers are passing them by in favour of candidates with more realistic salary expectations. So while the Singapore market is candidate short for most sectors outside of financial services, and skilled professionals are in demand, employers will not rush to employ a candidate whose financial expectations are too high.

As well as maintaining realistic salary expectations, we also advise candidates to prepare before you enter the jobs market. Some candidates are failing to research an organisation before an interview, but this is essential if you are to demonstrate how your skills and experience suit the needs of the hiring business. Singapore employers are still very conscious of making sure candidates are the right fit and want the role for the right reasons; research enables you to provide relevant examples that show you are the right fit for them.