Does work still work for 21st century businesses in Singapore?

Adopting a more flexible approach can offer organisations access to a much wider range of talent.

Going to work is changing and it is changing for the better. Better for people and better for businesses!

The combination of economic instability and the endless possibilities that technology offers – such as remote or mobile working – is inevitably changing the way people prefer to work. That is causing a growing shift in the mind-set away from the notion of ‘permanent work’.

This, in turn, opens up tremendous possibilities for organisations that are willing to think flexibly about staffing, as well as changing the career dynamic of today’s working professionals.

Instead of settling for stable nine to five jobs, professionals are increasingly looking for employment opportunities that also suit their lifestyles and ambitions.

Today’s generation is far more comfortable with contract work, flexible hours and/or short term assignments. Instead of signing up for a job-for-life, many are choosing finite engagements that fit in with their present goals, which can vary tremendously.

For example, younger candidates may accept an appointment to gain experience, while more mature individuals may want better financial rewards to pay for property or in planning for retirement.

Returning mums value flexible hours, which allow them to spend more time with young kids. And veterans may simply want the freedom to say, ‘I’ve had enough for now. I want to take three months off and go skiing’.

Until recently, this episodic approach to career planning was anathema to HR professionals. They worried about potential disruption from constantly hiring, and rehiring staff to fill positions.

However, when it comes to people, there is no longer any such thing as a one-size-fits-all job.

Thinking flexibly about engagements can offer organisations access to a much wider range of talent. And they can also respond with more agility to market developments and tie hiring strategies much more tightly into business strategy.

Survival of the most adaptable

Adaptability is the key. Forward-looking businesses should adopt a blend of integrated talent acquisition and talent management strategies – clearly linked to commercial objectives – to drive performance.

Companies that respond positively to evolving social and technological trends, and recognise the need for universal consistency, will be well placed to reap the business benefits of a more motivated workforce. Such flexibility also promises to play a role in effective employer branding.

Studies show that 64% of candidates are less likely to buy a company’s products or services if they have a negative experience during the recruitment process.

Transforming candidates and employees into brand advocates and consumers can deliver significant incremental revenue. So, staying ahead of the game and engaging positively with today’s diverse mix of workers is vital.

All well and good. But, how do organisations tackle the additional complexities involved in this new, flexible approach?

The answer could be what we call Integrated Talent Management – outsourcing the resourcing and talent management functions to a third party, to manage permanent and graduate recruitment, senior hiring and the contingent workforce or ad-hoc staffing.

The benefits of using a single provider to manage all aspects of resourcing and talent are numerous. Cost minimisation and process efficiencies come through economies of scale.

Total consistency across all elements of resourcing is also achieved by sharing resources and processes across all elements of the solution. A single provider can also create consistent, comparable, benchmarked reporting, and ensure superb strategic, rather than reactive, alignment between HR and provider.

Absolute consistency in employer branding, regardless of where candidates fit into the organisation is also assured, assisting in engagement and ultimately increasing retention. In fact, consistency becomes the norm, rather than a target. The employer brand is presented in a consistent manner.

Other advantages include positive, consistent candidate experience, with fewer hand-offs during the recruitment process. Precise, targeted quality control and continuous improvement programmes implemented across the entire solution, also ensures that gains are shared across the entire resourcing and talent function.

Get the right blend

For multi-nationals, building teams around the world, capable of delivering 24/7 is becoming essential. For such companies, the value of achieving the right cross-boundary cultural fit becomes key. 

It is clear that high performing businesses do not regard hiring graduates and experienced staff, temporary workers, contractors and consultants as separate activities, owned by separate organisations and powered by different systems.

The acquisition and retention of talent and capability requires an integrated approach that is consistent globally, with due consideration for candidate preference, employer branding, innovative technology and company culture.

Conversations are rapidly turning to how best to support blended workforces – workforces comprised of many different types of permanent employees and contractors. Companies must create the right structure to attract, engage and retain tomorrow’s rich mix of professionals and accommodate their work preferences.

It’s still work. Just not as we’ve known it!