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Top 3 priorities for HR leaders in 2022 Randstad
CONSUMERS UNHAPPY WITH CUSTOMER SERVICE IN 2021
Singaporeans want businesses to listen better to feedback
Are businesses really happy to serve? Singaporean customers do not think so based on a recent report by Qualtrics.
Qualtric’s 2022 Global Consumer Trends report showed that nine in 10 Singaporeans expressed dissatisfaction towards businesses’ customer service in 2021.
Those surveyed also ranked customer service as the second most common area in which they want businesses to improve.
Customers said they also need businesses to care more about them (68%) and get better at listening to feedback (68%).
The report warned customer dissatisfaction could cost businesses in Singapore a combined total of $14.98b (US$11b) given that 51% of consumers have cut spending after having a single bad experience with a company.
Qualtrics also found that consumers would be 3.8x more likely to purchase again, 4.8x more likely to recommend a friend, and 4x more likely to trust the brand if they have good customer experience.
Businesses must listen
“It’s more important than ever for businesses to continually listen to and understand the needs of their customers, and then rapidly adapt to those signals. Those that can make ongoing use of customer insights will differentiate themselves going forward,” Bruce Temkin, head of Qualtrics XM Institute, said.
“The last two years have affected just about everyone at home and at work, pushing consumers to re-evaluate many of their relationships. They are actively looking to do more with organisations that put their needs first,” Temkin added.
HR leaders should prioritise upskilling the workforce and promoting work-life balance
Top 3 priorities for HR leaders in 2022: Randstad
More jobs will be created this year as organisations push for industrial growth and talent development, a study by Randstad showed.
In particular, new job opportunities will pop up in the information and communications technology, banking and financial services, and professional services sectors.
To support the changes in the labour force, which have continuously faced shortage, the study suggested that HR leaders prioritise three things:
Upskilling and development of the local workforce
Companies have raised their bar for what qualifies as a highly skilled worker due to rapid digitalisation, according to Randstad.
The study said companies are now seeking candidates with “excellent middle-management leadership skills and the ability to communicate effectively to drive stronger business partnering” and even “plug and play” talents who can fulfill their immediate business needs.
These talents, however, come with a high price tag, Randstad said.
“Instead of fixating on finding the perfect job applicant, HR leaders should focus on upskilling and developing their existing workforce,” the study suggested.
“Empowering and enabling employees to develop their skills would enable the organisation to reap the benefits of a rich human capital and craft a highly attractive employer brand,” it added.
The study said HR leaders should also give additional focus on equipping mature workers with practical digital skills that they can apply to their job.
Apart from retaining talent, offering upskilling opportunities for employees will also likely attract job seekers, Randstad said.
Developing flexible and agile workforce strategies
Singapore’s diminishing population— which dropped 4.1% to 5.45 million in 2021—has raised issues about the workforce’s capacity to meet their companies’ growing ambitions.
Randstad said one way for companies to fulfill their productivity targets is by hiring more professionals on a contract basis to “meet urgent business needs whilst remaining agile to the changing business environment.”
The study however emphasised that more than short-term initiatives, companies should focus on working towards building a long-term relationship with their potential employees and alumni.
“Companies should also look at the growth and learning potential of job seekers and invest in developing them to become competent and loyal employees,” the study said.
HR leaders, for their part, can also create innovative recruitment solutions that will in turn uncover “hidden potential” in a company’s workforce.
Creating new HR policies centred on flexible work and work-life balance
Companies with a flexible working policy are likely to attract quality talent as more employees are prioritising jobs that allow them to work from home, according to Randstad. The study said that a hybrid work setup also drives more productivity amongst employees since they have more opportunities to try out new digital tech.
