More Singapore firms holding back on new hires: Survey

January 14, 201510:25 am433 views
More Singapore firms holding back on new hires: Survey
More Singapore firms holding back on new hires: Survey

SINGAPORE — Jobs may be harder to come by this first half of the year, as employers are taking a cautious approach to hiring compared with the last half of last year, according to a survey released today (Jan 13).

Out of 352 Singapore employers who were surveyed by employment consultancy Hudson, only 37 per cent of employers expressed intentions to hire from January to June this year — a figure 10.3 per cent slimmer than last half’s.

The dip is most significantly contributed by a decrease of activity in the banking and financial sector, which saw the biggest drop in hiring intentions from 56.3 per cent to 36.2 per cent.

However, the slump is cushioned by the information and communications technology (ICT) sector, where it showed a continued increase of 7.3 per cent of employers looking to hire, as companies invest in in-house IT systems and functions. The ICT sector’s 52.4 per cent figure is the strongest since the third quarter of 2011.

“Companies that traditionally outsourced their IT functions are now reintegrating, restructuring and building their teams as they see the benefit of an integrated global IT strategy and the role it can play in driving innovation and efficiencies,” says General Manager of Hudson, Mr Emmanuel White in a statement released today.

He also reveals that roles relating to data security, project management, big data and emerging technology, such as cloud computing, are in demand. Digital specialists, who can help companies maximise their digital presence and revenue, are also sought after.

“While Asian banks have generally had a strong 2014 with some home-grown banks expanding their operations, there has been a simultaneous softening of the market as managers adopt a ‘wait and see’ approach to hiring,” says Mr White. Despite this, Hudson sees a keen focus on compliance and regulation roles in banks as they address international regulatory reform. Banks are still keen to hire credit analysts and private banking relationship managers, among others, as banks look to market customised solutions for corporate clients, he added.

 

 

news source & image credits: todayonline.com

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