The shortage of seafarers : developing industry/employer of choice and employment brand strategies

• Main Author: Balasubramanyam, Linkesh
• Other Authors: School of Civil and Environmental Engineering
• Format: Final Year Project
• Language: English
• Published: 2010
• Subjects: DRNTU::Engineering::Maritime studies::Maritime management and business
• Online Access: http://hdl.handle.net/10356/38891
• Institution: Nanyang Technological University

The New Economy is one of information, speed and extraordinary growth. This rate of growth in global economy is proportional to the demand for shipping; subsequently this growth in shipping will far exceed the current seafaring labor force. Soon the issue of seafaring shortage will be a global issue. Corrective measures must be administered now in order to meet the labor demands of the future. The reader will initially be given a brief update on the current seafaring labor market based on BIMCO/ISF 2005 report. Subsequently the author explores marketing strategies such as Employer of Choice to be a possible cure for this shortage. Simply put Employer of Choice is an organization that is able to meet the growth and profitability goals because it attracts and retains quality and quantity of it employees it needs The aim of this study is to analyze how seafaring is marketed and campaigned in Singapore. After which the author explores into themes such as Employer of choice and branding strategies which have being proven to attract and retain talent in other industries. Based on the quantitative and qualitative studies conducted within the Singapore seafaring sector, the author believes there is a growth potential for the Singapore Seafaring Sector. With the right mix of marketing and human resource management strategies in place and greater synergy between Government, Employer and Union this study will inform readers on possible solutions to rectify the shortcomings of the future Seafarers.