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Hiring expectations in Singapore have fallen slightly in the second quarter, but remain at a high level, according to the latest employment trends report by recruiter Hudson. This found that more than four out of 10 employers (43.2%) intend to increase headcount in the coming quarter.
The majority of firms (51.5%) plan to keep their headcount steady. The survey indicates that business and consumer confidence has grown and is expected to remain stable throughout 2013.
Hiring activities are particularly high in the manufacturing & industrial, IT&T and banking & financial services. A rebound in the manufacturing & industrial sector has been influenced by a recovery in the global and Chinese manufacturing market, the report said.
“Whilst the global economy looks set to stay sluggish, China’s economy is beginning to regain confidence, having positive flow-on effects for the Singapore economy and job market,” said Andrew Tomich, executive general manager at Hudson Singapore.
“At a government level, Singapore is serious about developing its resident workforce and most employers are now adopting Singaporean-first policies when recruiting, and the quota for foreign workers is set to decline. When it comes to hiring, employers are thinking local, local, local, however increasing restrictions on the available workforce are creating a shortage of suitable candidates in an already tight market.”
The report said that HR and recruitment practices must be continuously assessed to ensure organisations are able to retain the key talent and capability necessary to drive business outcomes and success. Talent shortages are a long-term feature of the Singapore employment market and employers should act now to safeguard current and future business performance, it said.