NEWS
No ‘flurry in a hurry’ for 2011 Chinese Year of the Rabbit
28 Jan 2011

More like Peter Rabbit than the Duracell Bunny, 2011, the Chinese New Year of the Rabbit is forecast to be a calmer 12 months for the labour market in Singapore, according to Chinese tradition. Randstad, a leading recruitment & HR services provider, says with the economic recovery well underway and rising business optimism, this will be a year of reconnecting.

Randstad Regional Director – Singapore & Malaysia, Karin Clarke said: “Business leaders will need to reconnect with their employees through open and honest communication to ensure they are happy, motivated and engaged and ready for the challenges that lay ahead.

“The past few years have been some of the most challenging times in the last two decades, and employees will be looking for acknowledgement and recognition of their hard work. A ‘thank you’ can take many forms, and it will be appreciated if it is personal and appropriate for each individual employee.”

However, the stability predicted by the Chinese Zodiac sign will not stop employees looking for new opportunities outside their current company now that the job market has improved, according to Randstad.

“By ensuring they have robust talent retention strategies in place, employers can stem the movement of talent. We are seeing a number of companies offer their employees training and development as a way to bridge the shortage of skills, and as a means of retaining talent. This effort complements the traditional remuneration packages. Smarter corporates are also introducing and promoting a culture that recognises the importance of work-life balance,” Ms Clarke said.

“A top priority for businesses this year will be to ensure they have well-trained people ready to tackle the challenges and opportunities the new year will bring. The winners in 2011 will be those organisations with the right people in the right jobs, and an absolute motivation and readiness to grow the business,” she added.

How can companies effectively manage issues such as employee retention? Randstad recommends the following tips might be useful.