The Randstad Award is reputedly the world’s largest employer branding survey and is presented each year to the most attractive employer in 25 markets across the globe. The sample currently consists of 200,000+ respondents and covers 75% of the global economy.
The Randstad Award is now in its fifth year in Singapore, having been held since 2012. With the 2016 edition just around the corner being held on the 7th of April at the Sands Expo and Convention Centre – Marina Bay Sands, we take a trip back in time to review some of the key trends that have transpired over the years.
One of the key criteria covered in the Randstad Award study are the attractiveness factors. This section breaks down the most important aspects that jobseekers look for when selecting a new organisation.
It is no surprise that the top 5 attractiveness factors have not changed drastically over the past few years - candidates’ expectations and motivations have remained pretty much the same every year. However a more in-depth analysis uncovered some interesting facts:
Salary has been consistently ranked the number one most important factor since the start of the Randstad Award in Singapore in 2012. Each year, between 63% to 71% of respondents have voted salary as a Top 5 most important aspect.
work-life balance gaining traction
Work-life balance has risen significantly in terms of ranking, from 32% to 54% between 2012 and 2015 to take the second spot in the Randstad Award Top 10 Attractiveness Factors.
According to the Bureau of Labor Statistics, Millennials are now the largest generation in the workforce. This generation of employees tend to have their own perspective of what office life should look like and our Attractiveness Factors ranking reinforces this mindset shift with the increasing focus on work-life
The growth of Millennials in the workforce may also have led to a decreasing focus on attractiveness factors such as job security (dropped from 61% to 44%) and financial health of the organisation (dropped from 55% to 36%). This could be due to the fact that the average tenure of Millennials is typically around two years, which means they are essentially placing less importance on factors such as long term job tenure and the financial health of organisations when looking for a new job.
Randstad Award Singapore winners - past and present.
Between 2012 and 2014, Singapore Airlines remained the number one most attractive company in Singapore. As a winner for three years in a row, Singapore Airlines was inducted into the Hall of Fame in 2015, the highest and most prestigious accolade handed out in the Randstad Award. As a Hall of Fame inductee, Singapore Airlines will be able to participate in the Randstad Award again in 2018.
Over the years, the Most Attractive Employer award has been hotly contested by some of Singapore’s largest organisations. The following companies have been regularly ranked in our Randstad Award’s Top 3 spots since 2012:
about the Randstad Award.
Celebrating its 5th anniversary this year in Singapore and its 16th edition globally, the Randstad Award is presented each year to the most attractive employer in 25 markets across the globe. It is based on the outcome of one of the world’s largest independent survey into employer branding, covering over 200,000 global respondents and 75% of the global economy. The outcome of the Randstad Award is based on public perception and focuses on three main areas: overall brand awareness, absolute attractiveness and relative attractiveness. This creates a level playing field for all competing companies instead of giving an advantage to large multinationals with higher name recognition than smaller companies. This award is not open for nomination and the results are based solely on the opinions and votes of the local workforce – making it the only award that is truly representing the people’s choice. The 75 largest companies are selected in each participating market, usually with more than 1,000 employees. This list is presented to a representative cross section of relevant respondents based on region, age and gender. In Singapore, 5,000 employees and job seekers between the ages of 18 to 65 were surveyed. These respondents were asked to identify companies they recognise and indicate if they would like to work for them. This is then followed up with an evaluation of attractiveness factors, such as salary, benefits, work atmosphere and job content, for each of the companies.
Randstad is one of the world’s largest recruitment and HR services providers, with Asia-Pacific operations in Singapore, Malaysia, Hong Kong SAR, China, Australia and New Zealand. Randstad Singapore specialises in permanent and contract recruitment, placing high calibre mid to senior level professionals in companies across key industry sectors. Since 1993, Randstad Singapore has been shaping the world of work, and continues to help organisations recruit the best talent in accounting & finance, banking & financial services, corporate & secretarial support, engineering, human resources, IT, life science and sales & marketing.
For more information about this media release, please contact:
Matthew de Bakker