Singapore companies are No 1 in talent poaching , survey finds

Poaching talent from other companies is more likely to happen in Singapore than in any other country, according to a survey by recruitment firm Robert Half.
Poaching talent from other companies is more likely to happen in Singapore than in any other country, according to a survey by recruitment firm Robert Half.PHOTO: ST FILE

SINGAPORE - Poaching talent from other companies is more likely to happen in Singapore than in any other country, according to a survey by recruitment firm Robert Half.

Seventy nine per cent of firms here have lost a good employee to a higher paying company during the last 12 months, the survey, released on Thursday (Oct 29), found.

Robert Half surveyed 2,425 chief financial officers and finance directors from 16 countries, including 150 from Singapore.

The country with the next highest frequency in talent poaching is China (71 per cent), followed by the United Arab Emirates (65 per cent) and Japan (65 per cent).

Globally, 52 per cent of firms reported losing a good employee to a better offer, Robert Half said.

Ms Stella Tang, managing director of Robert Half Singapore said offering more money to a person to entice them from their current company has always happened, but that such occurrences have increased in the current tight labour market.

She added that it is usually senior level professionals that bring experience, a track record of success and potentially even business with them that will be poached.

"The competition for these highly sought-after executives is pushing their value up. At the other end of the scale, mid to entry level positions are seeing only modest salary rises this year".

To entice these senior level professionals to move, attractive offers are required, she added.

"The amount of extra money they earn is usually around 5 to 10 per cent more, but we have seen cases where candidates have been offered 20 per centabove their current salary to jump to another company." Ms Tang said.

jkoh@sph.com.sg