As the war for tech talent in Singapore continues, incoming multinationals are aggressively poaching employees from competitors. With pay packages becoming an all too important consideration for tech employees, many companies are losing out to MNCs coming in with big budgets. As a tech recruitment agency in Singapore, we believe that there’s a myriad of different ways for you to recruit tech talent despite the heavy competition. We outline some of them below.
How to Stay Competitive in Tech Recruiting in Singapore To stay competitive in Singapore’s tech recruitment scene, you have to move away from the norm. You can’t rely on traditional methods such as posting jobs on your company website and waiting for the right candidates to apply. As much as growing your web and social media presence is a given, outsmarting the competition requires more than just these.
Here are five strategies you can start implementing today to make sure you’re steps ahead of the competition in Singapore’s tech talent war.
1. Establish Yourself in the Local Tech Scene
If you’re constantly looking for tech talent, then you need to be part of Singapore’s vibrant tech community. There are communities dedicated to specific tech fields such as the .NET platform, data science, cloud computing, cybersecurity, etc, all of which have the talents your company needs. As a member of a tech community, monitor discussions and build connections which will help you fill positions faster and cheaper. With the average cost per hire being $4,129 and time to fill being 42 days, these connections will benefit your company’s bottom line. You can also become an insider by promoting industry growth through donations to learning institutions. You can see the value of this strategy in Sea’s donation of $50 million to the National University of Singapore (NUS). The money is going into research and education in areas such as AI and data science. To the company’s benefit, SEA’s founder and group CEO got an opportunity to join the NUS board of trustees. To find a tech community which can add value to your company, start by checking out this list on Meetup.
2. Organize Tech Events, Webinars and Courses
The Singapore tech community loves events—both in-person and virtual events. As long as you are an active member of the community and you contribute value that they seek, they will attend your event. Top techies often geek out on the latest updates on new technologies, new products and projects, as well as the opportunity to network with others in their field. As they interact with your tech staff and other community members, you get an opportunity to promote your employer brand. Take time to shed more light into what your company is really about; your values, work culture, flexibility, diversity etc. Show that your company is a fun place to work by having sessions where attendees can play games, participate in hackathon sessions, and even enjoy interactive food and drink stations. As you leave a lasting impression on your event attendees, they’ll develop some love for your company and more easily consider working with you.
3. Headhunt from Local Polytechnics and Universities
McKinsey reports that 82% of companies don’t hire the right talent. With a crowded job market that lacks the right skills, you can secure your future talent needs by sourcing for tech talent in our polys and universities. There are companies which send their talent representatives to education and career fairs to introduce the organisation’s products, projects, work culture, employee benefits etc, with the aim of getting top talent to want to work with them. In fact, some companies go as far as indulging students in expensive treats then sending them job offers with irresistible deals. This is how Fog Creek hires tech talent. From here, smart employers “chope” students early and they too, can go through their education knowing that they have a job waiting for them. It’s a big convenience for them, just as it is for the company. While others pursue passive candidates and search through online candidate databases, you can have your current and future tech talent needs sorted by implementing this simple strategy.
4. Use Tech Challenges to Identify the Right Talent
Top tech talent loves challenges. Give them a problem to solve using their skills and they’ll work at it to prove their abilities. The best ones will even go beyond your requirements where possible to stand out. And if you can add an element of gamification to the challenge, all the better. This strategy works like a lead generation campaign that is meant to generate potential hires. DBS applied this strategy through their DBS MegaHackathon and benefited greatly without engaging in a tech talent war. The bank identified talent within its ranks, utilized lean startup methodologies, and ended up with several viable working prototypes. Razer Fintech’s digital hackathon challenged students, professionals and the startup community to create FinTech solutions. After rewarding winning participants, Razer secured critical tech talent through internships, full-time employment, and even commercial partnerships. By simply tapping into what makes techies tick, you can ditch the tech talent war scene and peacefully grow your business.
5. Conduct Internal Hiring Like a Pro
Have you considered the fact that as you pursue passive candidates, your own staff could also be receiving calls from your competitors? If your employees get poached while you’re busy trying to fill another position, you’ll have a bigger problem to deal with. As one who thinks ahead and comes up with solutions, you can prevent this by developing systems which give your own tech talent room for growth within your organization. Go beyond simply communicating open positions and promote these as opportunities for growth. You can give your staff ideas on how to take these opportunities, e.g. by switching roles based on strengths proven by a candidate assessment test. You can also sponsor learning a new skill and show your employees that you support their growth. Investing in your employees will go a long way in cultivating loyalty and save you time and money when filling open positions. Talk to us today and experience the benefits of partnering with BGC Group.