Employers in Singapore to ramp up hiring in next six months: Survey

July 4, 201410:27 am274 views
Employers in Singapore to ramp up hiring in next six months: Survey
Employers in Singapore to ramp up hiring in next six months: Survey

SINGAPORE — More companies here will be looking to hire more staff in the second half of this year — a reversal from the downward trend of recent quarters, according to recruitment firm Hudson.

Almost half of employers polled (47.3 per cent) intend to increase headcount over the next six months, according to the Employment Trends study released today (July 3). This is an increase of 7.8 percentage points from the first quarter, while the intention to decrease headcount is down 3.8 percentage points to 3.5 per cent.

Mr Emmanuel White, Regional Director of Hudson Singapore, said: “Growing business sentiment is having a positive effect on the recruitment market. Business confidence is high on the back of healthy expansion in the global economy and the expected growth of Singapore’s GDP at 2 to 4 per cent for 2014.”

He noted that while hiring sentiment is on the upswing, the market remains challenging and uncertainties in the global macroeconomic environment remain.

Another factor for employers in all industries is the need to reconsider their hiring strategy once the Fair Consideration Framework comes into effect in August, Mr White said. The Ministry of Manpower announced last September that all companies are to consider Singaporeans fairly for jobs based on merit, before hiring Employment Pass holders for the available positions.

Delving into individual sectors, the survey — conducted in May with 425 Singapore employers involved — showed the banking and financial services sector had the strongest hiring intent, with 56.3 per cent of employers planning to hire more staff in the next six months. This is up 6.3 percentage points from the first quarter of the year, according to the report.

“It is encouraging to see the sustained upbeat sentiment with banking and financial services – the sector has maintained an upward trend in positive hiring intentions since Q3 2013, reflecting an increase in confidence of local banking businesses as well as reaffirming Singapore’s position as the regional hub of banking and financial services,” Mr White said.

Information technology and telecommunications ranked second at 52.4 per cent, while manufacturing was third with 43.6 per cent. Healthcare and life sciences, however, showed the lowest hiring sentiment among all surveyed industries at 41.9 per cent, Hudson said.

 

source: todayonline.com

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