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In the 2019 Randstad Employer Brand Research, the banking and financial services industry ranked ninth out of 17 sectors that people want to work for in Singapore, moving up two spots from last year.
This does not come as a surprise, as the sector had outperformed market expectations in 2018. The finance industry contributed 13 per cent to nominal GDP in 2018.
As the fourth most competitive financial centre in the world, Singapore’s banking scene is earmarked for exponential growth. The influx of global investments, rapid growth of emerging markets in Southeast Asia and growing customer demands for more personalised products are driving a steady growth within the banking industry.
However, as the economy slows down, companies will need to re-look their investment strategy to identify potential high growth areas to remain competitive and resilient.
engage recruiters to reduce high-flight risk candidates
As the economy heads for a potential slowdown, employers are expected to be more deliberate in their hiring activities. It will become increasingly important for employers to hire candidates who are not only able to demonstrate that they have the right skills, but are also the right fit to the organisation’s culture.
When banks engage specialised recruiters, they gain priority access to a targeted pool of banking and financial services professionals. These banking recruitment consultants have a clear understanding of what these candidates are looking for and are able to match them to employers that can meet their expectations. They can also share insights on the company’s culture to help candidates make better decisions, which will result in a lower fallout rate.
based on the results from 2019 Employer Brand Research, the report highlights:
- How banks can leverage technology advancements to increase their appeal to talent
- Improving internal training and career roadmap to get your banking talent up-to-speed on the latest in-demand skills
- Recognise the positive impact of work-life harmony on the bottom line in banking industry
- Diversity and equality can drive innovation and business growth