sme hr series re-think the recruitment model with the singapore's context - 2015-12-09

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Re-Think the Recruitment Model Within the

Singapore Context

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Ignorant of the changes

Refuse to change

Don’t know how

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

• In 2005, one in 12 residents was 65 years or older

• In 2020, one in 6 residents will be 65 years or older

•ASIA FASTEST AGING POPULATION

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•INCREASED LIFE EXPECTANCY

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

•REMAIN LONGER IN WORKFORCE

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

•FERTILITY RATE

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• SHRINKING LABOUR FORCE

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•MORE EDUCATED WORKFORCE• Employees with Professional Qualification and Diploma

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•MORE EDUCATED WORKFORCE• Employees with Degree

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•More holding P.M.E positions

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What are implications for companies ?

Demographic Trend 1 Demographic Trend 2

Ageing Population Less Younger PeopleLonger lifespan More Educated

Remain longer in workforce

Aspiring for PMEs jobs

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PROFILE OF MATURED WORKERS IN SINGAPORE

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Age & Life Stage

• Matured workers : Between 50 to 70

• Life Stage : With grown up children

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Education Profile

• Little or no formal education

• Low skilled job characterised by low wages

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Purpose & Objectives of Work• Financial freedom• Active Lifestyle, Quality of Life• Health and Mental state

• Source : Engaging the Matured Worker, An Action Plan for Alberta• Source : WorkbookBC Employer’s Tool Kit

• Traditional concept of retirement

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Physical Health

Physically and mentally less demanding

Provide shorter working hours / work week

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Financial Rewards & Benefits

• Source : International Profile of Cleaning Industry by Asset Skills, Intelligence Paper

Implement Skills & ‘Not-Age- Based’ Salaries

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Employees’ Benefits

Match the needs (eg) medical and insurance

• Source : Older Workers : Untapped Assets for Creating Value

Contribute to retirement fund

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Work-Life Balance

Introduce Work-Life Balance (Life priorities)

• Source : The New Agenda for an Older Workforce

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Managing Intergenerational Differences

Workplace Relationships with dignity

Cultivate sense of belonging through communication

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Traditionalist Baby Boomer

Gen X Gen Y

Year of Birth

Before 1946

1946 – 1964 1965 - 1980 1981 - 2001

Age(as of 2015)

70 51 - 69 35 - 50 14 - 34

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Gen Y Supervisors

Traditionalist & Baby Boomers Subordinates

Inexperienced, do not know how to

manage

They don’t explain and share views

They want to control

everything…

Micro-manager

Disrespectful…

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Gen Y Supervisors

Traditionalist & Baby Boomers Subordinates

Disrespect, yell and rude to me…

They think that experiences counts

more than anything…

Self-opinionatedHard to get

buy-in

Dislike changes

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Lack of Awareness of Intergenerational Differences Singapore’s scored the 2nd lowest among 9 Asian Pacific Countries

• Source : The Aging Workforce in Singapore : Managing Intergenerational Issues

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The reality is that we know the workforce is ageing, but there is just no urgency among a number of employer here in thinking about what they need to do in order to prepare themselves- TAFEP General Manager

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PROFILE OF YOUNGER WORKERS IN

SINGAPORE

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Demographic Profile

Needs and Expectations

Age • 35 years old or less

Life Stage Life Priorities• Getting married• Having children

Education • NITEC / Diploma and above• Higher aspirations (with SkillsFuture)

Physical Health • Good condition• Mental stress

• Source : WorkbookBC Employer’s Tool Kit

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Demographic Profile Needs and Expectations

Work-Life Integration • Flexible schedules / ample time off

Financial Rewards • Competitive and equitable compensation

Benefits • Tailored benefit schemes• Faster promotion to management

Work Environment & Relations

Meaningful and Interesting Work• Freedom to make decisions• Frequent Feedback• Social Workplace

• Source : The Aging Workforce in Singapore : Managing Intergenerational Issues

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.

Demographic Trends

Review internal hiring strategies

Supply of

Workers

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HOLISTIC APPROACH

1. Re-think People-Strategy

3. Harness I.T

2. Adopt Technology

4. Revamp processes

SHRI. Building the HR brand since 1965.Copyright © 2007 SHRI.