By MDX Advisory Team
June 23, 2025
The professionalism and service excellence of your staff play a critical role in your company’s success. Your staff’s engagement with customers throughout their purchase journeys shapes their customer experience. As such, it is important to adopt good practices to increase your ability to attract and retain high-performing company staff.
Current Challenges in Recruitment
The imposition of tariffs and retaliatory tariffs will significantly impact costs on imports/exports. While the impact will vary depending on the country and the industry, they are likely to result in reduced global trade volume and business profit margins. Manufacturing sectors may face significant supply chain disruptions, delaying production and resulting in higher costs of production, further slowing down international trade.
Key skillsets in AI, cybersecurity, cloud computing, environmental, social, and governance (ESG) principles, and business analytics are particularly sought after.(MyCareersFuture, "Singapore's Job Market In 2025: Which Industries Are Hiring?", March 2025)
60% of Singaporean employers cite the skills gap as the top barrier to business transformation, reflecting a global trend where the average is 63%. (World Economic Forum, Future of Jobs Report cited by HRD Asia, January 2025)
38% of employers struggle with intense competition to secure top candidates, leading to bidding wars. (Randstad Singapore Report cited by JustLogin, "Navigating the Talent Shortage: Key Hiring Trends for Singapore Employers in 2025", January 2025)
46% of employees are likely to leave within a year, with job-hoppers in high-demand fields expecting 12-15% salary increases. (Mavenside, Singapore Tech Talent Trends 2025)
(Source: Prevalence of burnout among healthcare professionals in Singapore. July2022 Annals of the Academy of Medicine Singapore 51(7):409-416 by Kok Hian Tan MBSS, Boon Leng Lim MBBS, Zann Foo BSc (Hons) Mgmt, Joo Ying Tang BEng (Hons) EEE, Mabel Sim BEng (Mechanical), Phong Teck Lee MBChB, Kok Yong Fong MBBS)
Persistent manpower shortages and increasing demand for professionals resulted in a highly competitive staff recruitment landscape in Singapore. As a result, companies must find ways to stand out against other recruiters to attract the top talents. Consider some of the following good practices to improve your recruitment success.
A
Building a Strong Employer Brand online
B
Make a Compelling Offer
C
Effective Recruitment Strategies
D
Effective Screening and Interviewing
It is not uncommon for your staff to move on after a few years of working. The common push factors may include a lack of further prospects, learning or simply a preference for a different type of job/industry or the heavy workload, stress and burnout. While it may not be possible to address all these issues, we put together a list of areas which you can consider adopting to reduce attrition.
Whether you are just starting or you have been running your company for quite some time, it is important to consistently review your recruitment and retention policies to ensure your company’s competitiveness. Today’s Millennial and Generation Z workforce have different expectations and motivations compared to earlier generations. It is important to recognise this and be proactive in making changes to your policies to attract new high-performance professionals.
A comprehensive review and redesign of your HR recruitment and retention practices requires professional expertise and experience. Ad hoc or reactive approaches may result in contradictory policies that are difficult to monitor and implement. MDX Advisory has comprehensive experience and proven track records providing one-stop consultancy to businesses. If you need an obligation-free consultation, speak to us now.
MDX Advisory is a team of business service professionals and certified public accountants based in Singapore who can help you manage your business risk and safeguard your corporate financial and structural constitution. We have over 20 years of experience and expertise in helping businesses navigate complexity while strengthening them through our complete services.
