Source: CareerBuilder Singapore. The attributes of an Employer of Choice.

A 2017 survey by CareerBuilder Singapore reveals that simply offering a competitive salary isn’t enough to attract and keep talented employees. The study, titled Employer of Choice Survey* 2017, showed that Singaporean workers prioritize strong career growth prospects and an inclusive work environment over financial compensation when selecting an ideal employer.

Source: CareerBuilder Singapore. What an ideal job looks like.

Survey participants highly valued opportunities for learning and development within a role, as well as a positive and supportive work atmosphere. Attractive salary, bonuses, and other monetary benefits ranked as the third most crucial factor. Job security, a comfortable physical workspace, and comprehensive employee benefits were also highlighted as important considerations.

Source: CareerBuilder Singapore. Why people switch jobs.

When asked about reasons for changing jobs, nearly two-thirds of respondents indicated “limited career advancement opportunities” as their primary motivation. This significantly outweighed other factors, such as a negative workplace culture or dissatisfaction with management.

Similarly, the aspects that make a job attractive go beyond financial incentives. Positive relationships with colleagues and supervisors, a respectful and balanced work environment, and opportunities for professional growth are all essential attributes.

While the public sector is generally preferred over the private sector, startups are gaining traction as desirable employers. This year’s survey indicated that almost 59% of respondents (representing a nearly 10% increase from the previous year) expressed interest in working for a startup. The most common reasons cited were “abundant learning opportunities” (84.8%), the chance to collaborate with a passionate team (66.4%), and exposure to a broader range of responsibilities compared to larger, more established companies.

The top five startup employers of choice were Carousell, followed by Redmart, Uber, Honestbee, and Ninja Van.

Sam Ng, Managing Director of CareerBuilder Singapore, highlighted that the Employer of Choice Survey 2017 offers valuable insights for companies of all sizes to differentiate themselves and attract and retain talent. He emphasized that contrary to the belief that job seekers are solely driven by salary, small and medium-sized enterprises (SMEs) and startups can compete effectively by understanding the factors that matter most to potential employees.

Other key findings from the survey include:

· Tech companies are highly sought-after employers. Within the top 10 private sector employers in the Employers of Choice category, half were technology companies. For the third consecutive year, tech giant Google was ranked as the most desirable private-sector employer. Apple secured the second position, followed by Singapore Airlines, Changi Airport Group, and 3M. Microsoft and Facebook were also favorably ranked.

In the public sector, the top five Employers of Choice were, in order of preference: the Monetary Authority of Singapore, Singapore Tourism Board, Civil Aviation Authority of Singapore, Central Provident Fund Board, and the Ministry of Education.

The SME list placed Timbre Group, specializing in music, lifestyle, and experiences, in first place, followed by Zouk Management, WTS Travel & Tours, Garena Online, and Jumbo Seafood.

· Passion drives career choices: The majority of job seekers prioritized entering a particular industry based on their genuine interest in the field. This was followed by the industry’s alignment with their educational background. The banking/finance/investment industry (21%), government/civil service/military industry (19.6%), and healthcare/medical industry (17.9%) were the most preferred sectors. These results suggest that job seekers are largely guided by their passions when making career decisions.

· Fresh graduates have high expectations for rapid promotions and work-life balance. Among recent graduates surveyed, 53% anticipated their first promotion within two years of joining a company. Nearly two-thirds expected a managerial role by their third year of employment. However, despite this strong desire for career progression, the majority (68.5%) were only willing to work standard hours, indicating a significant emphasis on work-life balance.

· Job seekers favor online platforms over traditional channels. Respondents heavily relied on online resources and word-of-mouth referrals for job searching. Online job boards (45.5%) were the most popular method, followed by online advertisements, banners, emails, features, and news articles (33.5%), recommendations from family and friends (26.7%), and social media (25.3%).

*The Employer of Choice Survey 2017 was conducted from May to September 2017 and involved nearly 3,000 working adults and tertiary students aged 16 and above.