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New research highlights key workforce challenges of organisations in Singapore with the vast majority struggling to hire and retain employees
SINGAPORE, Nov. 18, 2024 /PRNewswire/ -- Visier, the globally recognized leader in workforce AI solutions, today announced new research that highlights persistent workforce challenges facing organisations in Singapore. The report identifies the six key factors shaping talent strategies, explores how people analytics can address workforce challenges, and examines the major obstacles hindering its full adoption for workforce transformation.
"The leaders we surveyed are locked in an ongoing battle to attract and retain talent, yet many feel poorly equipped to make informed decisions due to gaps in high-quality people data," said Lee Boon Huat, SVP, strategy and growth, Asia Pacific, Visier. "Understanding their workforce in greater depth is essential to create an environment where employees want to stay, thrive and contribute meaningfully to the organisation's success."
Conducted as part of Visier's study, 'Navigating Workforce Challenges 2024 - Singapore Edition,' the survey involved leaders from 100 organisations across Singapore. It explores how companies are using people analytics, the obstacles they face in building data-driven cultures and their efforts to address pressing workforce issues.
Key findings from Visier's report:
Bridging the Talent Gap: A striking 72% of organisations in Singapore report difficulties with hiring, while 67% are experiencing high attrition—highlighting both the competitive nature of the market and evolving workforce expectations.People Analytics Maturity: Although adoption is rising, nearly two-thirds of leaders cited the lack of high-quality data and analytical capabilities as significant barriers to achieving actionable workforce insights.
Employee Engagement: More than half of respondents rated low employee engagement as a critical challenge negatively impacting workforce productivity.
The research also found that few organisations are taking advantage of advanced analytics, employee engagement programs or career mobility initiatives to alleviate workforce challenges. Visier has partnered with People Matters to support HR leaders in Singapore as they confront these issues and redesign workforce strategies to succeed in a rapidly evolving environment.
"Navigating the complexities of workforce transformation requires not just advanced technology but a profound understanding of people analytics," said Jerry Moses, senior manager, content and research, People Matters. "The insights from this study reinforce the importance of data-driven strategies in empowering organisations to overcome challenges and future-proof their workforce. It's time for Singapore organisations to harness these insights to foster resilience, agility, and growth."
To access the full report, visit visier.com.
About Visier
Visier gives organisations a Workforce AI Edge: a set of AI-powered capabilities that help leaders understand the relationship between people and work, elevate the productivity of their employees, and win by adapting to change faster. The company is the global leader in AI-powered people analytics, workforce planning, and compensation allocation. All Visier technology is underpinned by its Real-time People Data Platform, which uses AI to unlock the business-transforming potential of people data, work data, and the fusion of both. Founded in 2010 by the pioneers of business intelligence, Visier has over 60,000 customers in 75 countries—including enterprises like BASF, Panasonic, Experian, Amgen, eBay, Ford Motor Company, and more. To learn more about Visier, visit www.visier.com.
Media:
Walker Sands
VisierPR@walkersands.com
English (United States)