One in three Singapore employers plan to hire in 2017
Technical roles are among the positions companies will most likely hire for, and a new Michael Page survey found that these niche requirements may even result in fierce competition for talent next year.
Despite predictions that the Singapore employment landscape will remain largely unchanged from 2016 with consistent hiring patterns, 36% of companies in Singapore said they have plans to grow staff strength in 2017.
Of the companies looking to hire next year, three in five are seeking to recruit for middle-management positions, found Michael Page’s 2017 Asia Salary & Employment Outlook survey.
Over 60% of employers also expect to offer workers a 1% to 5% salary raise.
Market activity in Singapore is still expected to see a slight uptick, due to continued investment in three key industries – namely digital, technology and healthcare, said Anthony Thompson, regional managing director of Greater China, South East Asia & India, Michael Page.
These industries are likely to be Singapore’s fastest-growing industries, due to boosts in government’s investment.
As a result, employers across these three sectors are likely to continue hiring actively, though recruitment efforts will largely focus on filling niche roles, Thompson added.
These niche technical requirements combined with requests from hiring managers for solid industry experience are likely to result in fierce competition for a limited pool of talent in 2017, the research found.
Employers may need to adopt a more open-minded approach, hiring candidates who possess a majority of the required skills and invest in further training instead.
To attract new talent as well as retain existing ones, 56% of respondents also said they will strengthen their employer branding in 2017.
But Singapore employers said the three most important talent attraction and retention factors are: salary increase (55%), learning and development opportunities (46%) as well as workplace flexibility and work-life balance (40%).