The top three initiatives used to attract top IT talent in Singapore are: Higher salary (47%), professional development (43%) and enhanced work culture, such as health and wellbeing programmes (37%).
Supplementing this, the top three initiatives used to retain top IT talent in Singapore are: Employee benefits (41%), professional development (37%) and flexible working arrangements (37%).
The findings are taken from an annual study by Robert Half that surveyed 75 CIOs/CTOs in Singapore.
A large majority of these respondent CIOs (83%) said it is more challenging to attract qualified IT professionals to their organisation compared to five years ago. As a result, almost half (47%) of CIOs are offering higher remuneration (base pay and/or bonus) to attract top IT talent.
Among the retention strategies, non-financial benefits are playing a large role, with employee benefits (41%), followed closely by professional development opportunities and flexible working arrangements.
Matthieu Imbert-Bouchard, Managing Director of Robert Half Singapore commented: “Companies with the lowest turnover rates are the ones who have ongoing conversations with their staff about what motivates them – and act on it, to the extent possible.
“Those who continuously benchmark salaries, provide challenging work and are able to tailor the remuneration package to the individual employee’s needs will be most successful at attracting and keeping top performers long term.”