SINGAPORE: A resilient regional economy and pockets of growth in the Republic's economy are two reasons why more employers are confident in planning to increase their headcount this year, said recruiters Hudson in a new report on Tuesday (Jan 19).
In its Hudson Report, the company said 41 per cent of employers indicated plans to increase their headcount, while 53 per cent are planning to maintain their current number of employees, it found.
Only 6 per cent indicated they plan to decrease their headcount, according to the survey. The Hudson Report surveyed 383 employers and 758 employees, the company said.
"Employers are feeling confident enough to put hiring back on the agenda," said Mr Emmanuel White, Regional Director of Hudson Singapore.
He noted that the hiring outlook for 2015 declined in light of concerns about the slowing Chinese economy and volatility in global financial markets.
"However, the regional economy has proven to be reasonably resilient, and while Singapore’s economic growth forecast may be subdued, we are still seeing growth in certain industries and employers are taking note,” said Mr White in the press release.
Of the employers planning to up their staff count, 69 per cent are doing so due to organisational growth, suggesting that the new year will see an uptick in competition for talent, said the company.
“It’s positive to see that organisations are planning for growth. However, the more buoyant the economy, the harder it will be to attract people with the right skills and experience. In this market, there will be strong competition for talent,” Mr White said.
MEDIA, PR, ADVERTISING TALENT WANTED
The report also found that the industries with the highest proportion of employees looking to hire are the Media/PR/Advertising sector (59 per cent), Professional Services (57 per cent) and IT&T (53 per cent).
"Many companies are investing more in digital marketing and e-commerce, and often outsourcing these specialist activities to agencies where we expect much of the hiring activity to be concentrated for Marketing, PR and Advertising," said Mr White.
As for professions that will be in demand, Sales (49 per cent), Financial Services (45 per cent) and HR/Recruitment (42 per cent) head the list, according to the report.
“Sales people play a crucial role in driving revenue growth, so the demand for them suggests that Singapore’s employers are focused on growing their bottom line. The demand for HR/Recruitment professionals reflects the fact that hiring and retaining the right talent will be key to achieving that growth," said the regional director.
“In the Financial Services space, we are seeing strong demand for compliance, audit and risk professionals, due to a growing focus on regulation in the region."