Best companies to work for in Singapore 2019
Singapore presents a very challenging environment for both employers and employees. Being one of the best performing private sector market in the world, Singapore attracts the best talent. Not only that, the average pay in Singapore is S$58,246 (US$42,112) as at 2018.
According to PayScale, Account Executive is one of the most attractive job positions in the market. This is for the reason that individuals in the position get handsome compensation in terms of salary.
However, there are other positions to which talent is flowing from all over the globe. Among them are Marketing Executive, and Software Engineer. As per PayScae, these occupations pay between US$24348 and US$35893 annually. According to WorldData.info, Singapore ranks 12th on the global scale for average monthly and annual income. This places the country just two paces behind the United States. These are two of the most preferred places to work.
However, it is evident that many more people are moving to companies in Singapore to work for them. Since they go looking for only the best companies, this article endeavours to find out those best places. Also, there are very many companies that one can work for in Singapore. For that reason, this article will classify the companies in broad sectors that job seekers most prefer.
A 2018 report by Randstad indicates that the technology sector attracts most of job seekers in Singapore. The report is part of the research to establish the best employers in Singapore for 2018. Interestingly, most of the companies making the ten best belong to the sector.
Vulcan Post notes that Google is the company most Singaporeans are dying to work for in 2017. The company set its Asia Pacific HQ in Singapore in 2016. With it, it brought the best perks and workplace conditions in the country. Two years later, the company is still the leading company that attracts the most job seekers.
Among the top ten in the technology sector includes Apple and Microsoft. The technology giants are vying for the best talent both locally and abroad. These companies offer the best opportunities for career advancement. This is for the reason that technology is taking the centre stage in the future.
A report by Great Places To Work For indicates that the tech sector will continue to attract more employees. There are expanding opportunities in the tech sector with new spheres springing up via innovation. Particularly, the blockchain sector and artificial intelligence will drive technology sector revenues in the future. Therefore, companies like Facebook, Microsoft, and IBM will still rank among the best to work for.
It seems the energy sector is still here for the long haul. Since time immemorial, the oil and gas sector has been the best industry to work in. This is due to high remunerations and job security. In recent times, the slump in oil prices and renewed fervour for renewable energy caused a bit of fear. People thought the industry was facing an existential threat.
This is not to say that the threat is absent. In fact, there are many companies coming up with new projects in electric car batteries and alternative energy. However, energy companies still rank among the best companies to work for in Singapore.
Ranking at the top is ExxonMobil. This is one of the best energy companies in the world. The company is reporting huge earnings in profits due to the rising price of oil. Also, this implies that the company offers job security.
Financial services sector
This is another very critical sector that is seeing a lot of traffic in terms of job seekers. The sector is performing very well and companies are reporting major profits. This is for the reason that the global financial market is stable. There is good recovery since the financial crisis of 2008. As a testimony, HumanResources cites an Aon research that ranks DBS Bank as the best employer of 2018 in Singapore.
The company also ranks the best employer in the Asia Pacific region for in the same period. Particularly, the Aon research cites the high-performance culture that is evident at the company. Further, DBS Bank exhibits the highest levels of effective leadership.
This way, the company’s workplace is very conducive to the employees who give their best. As a result, there is high employee productivity at the company. For this reason, DBS Bank is quite attractive and many people would like to work there.
The healthcare sector is among the best employers in Singapore. As of now, the country ranks favourably on the global scale in terms of healthcare services. The sector also offers the best opportunities for career advancement to employees. Particularly, Baxter Healthcare Asia is one company that embodies the qualities.
No wonder most Singaporeans prefer the company as the place to work in the healthcare sector. The company has excellent employee engagement mechanisms in place. Specifically, the aim is to increase employee job satisfaction which directly impacts customer utility.
Reasons the companies come on top
Interestingly, Yahoo Finance notes that each of these companies exhibits some qualities that pull people towards them. Firstly, companies encourage a working environment that is highly engaging.
According to Yahoo Finance, employee engagement constitutes involving the employees in all decision processes. As a result, they feel encouraged to come to work every day. Also, the publication notes that highly engaged employees understand their job. They are aware of their contribution to the overall success of their organizations.
Also, firms companies have excellent reward strategies that attract and keep employees. They understand that competing companies can easily snap up the best talent if not properly appreciated. In addition, the companies nurture a communication regime that seeks to speak to the best in employees.
In the process of communication, the companies ensure that the message is clear and concise and timely. This is because the companies understand that employees want to feel an integral part of the organization. Therefore, keeping them constantly updated on the company progress helps to anchor them in the company ecosystem.