Why do many businesses in Singapore fill IT roles through recruitment companies?
It’s not easy finding and hiring the ideal candidate in today's highly competitive, candidate-driven job market. That's the main reason why many businesses are turning to recruitment companies to help them recruit the right people for their open IT positions.
Should you follow suit? Can a recruitment company help you fill your open IT jobs?
First of all, let us look at why it is so hard to fill IT jobs in Singapore.
Why is it hard to fill IT jobs in Singapore?
1. Singapore IT job market consists of mostly passive candidates. According to a survey we conducted in 2018, 72% of IT professionals are not actively looking for a new job – 22% plan to stay in their current roles and even though 50% are open to new opportunities, they are not actively looking for one.
2. Businesses have become more data- and technology-driven. This didn’t just happen at technology companies, but also at traditional businesses that have embarked on digitalisation and moved their services online to stay competitive and meet customers’ evolving demands. From 2016 to 2017, the number of job postings on Indeed for roles in cyber security, data science, machine learning and robotics have increased by up to a staggering 700%! However, the number of jobseekers have not gone up significantly.
3. Singapore has a vibrant start-up ecosystem. The number of technology startups have grown tremendously from 3,400 to 4,300 between 2012 and 2016. This is great news for the country and industry, except that these startups are competing for talent from the same candidate pool. Our study found that a large proportion of IT professionals (88%) are open to working at startups. They find the huge room for professional growth and the opportunity to make a big business impact alluring.
With the tough challenges in the market, it is not surprising many businesses have turned to recruitment companies in Singapore to help them with their recruitment process. For businesses, outsourcing part or all of the recruitment process could mean having dedicated recruitment professionals to pursue the best talent for them within a shorter time and with lesser in-house resources. With vacancies being filled quicker, it also means that there is less disruption or delays with internal operations and projects. Other benefits include:
1. The Recruiter’s Expertise
Recruitment agencies have a team of professionals who recruit for a living. They have years of expertise in screening, filtering, and profiling candidates that your in-house team may not have. They update themselves with the latest trends in the market, allowing them to identify qualified candidates based not only on your criteria but also on what’s going to be the next big thing in the industry which your own HR might not be aware about.
With their market knowledge, they’re also in a position to provide advice and recommendations on the salaries you should be offering to attract the talent you’re looking for.
2. The Recruiter’s Network
Effective recruiters tend to specialise in one or a few areas. They may choose to specialise in a particular job function such as sales and marketing or human resources, or they may specialise in a particular industry such as information technology or oil and gas. There are a few IT recruitment companies in Singapore, also known as specialist recruitment agencies, that specialise in IT recruitment in Singapore. By choosing to concentrate only on a few specialty areas, the recruiter gets to develop deep skills and knowledge, and build his or her professional network in those chosen areas. You can expect them to have a wide network of candidates from which they will identify suitable ones for your position. As the recruiter is already connected to the candidate, the recruitment process can occur faster.
The recruitment company can help businesses with pre-employment testing, background checking, and even training. They may also guide your HR department on the employment pass application process, or be involved in it fully. This can save businesses time and money in dealing with these processes themselves.
Recruitment agencies can help you meet your recruiting goals while your HR department focus on its core operations, streamline processes, and reduce turnover. For more information on Evolution's recruitment services, contact us here.
Have you tried using a recruitment agency? How's your experience? Share your thoughts on our LinkedIn channel.
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