Over 1 In 3 Singapore Employers Plan To Hire More In Q4
SINGAPORE – About 35 percent of employers in the city-state (mostly those in the sectors of finance, insurance, property, and manufacturing) expect to hire more staff during the last quarter of this year, reported The Straits Times on Tuesday morning (14 September, SGT).
On the other hand, 26 percent of the 519 polled employers do not anticipate any changes in their hiring activity, while another 37 percent intend to reduce their hiring activity.
The most dismal hiring prospects were recorded by companies in the services sector at negative 29 percent, followed by wholesale and retail (-20 percent), as well as the mining and construction industries (-19 percent).
In general, Q4’s net employment outlook stands at 1 percent, which is a huge decline from the 15 recorded for the current quarter. Notably, net employment outlook pertains to the percentage of businesses expecting to hire minus the percentage of those expecting to scale down on hiring.
The research results were published on Tuesday by recruitment agency ManpowerGroup, and the survey was carried out in late July, when Singapore returned to the Phase II (Heightened Alert) after a brief Phase III (Heightened Alert).
“The quick return to Phase II (Heightened Alert) plus surging COVID-19 infections in Singapore and globally may have prompted some employers to slow down and observe the situation further, hence the more subdued hiring outlook when compared to last quarter,” said ManpowerGroup’s Country Manager for Singapore, Linda Teo.
Aside from that, results of the research show that companies here are facing challenges in hiring talent.
For instance, about 84 percent of the surveyed employers reported difficulty in hiring due to a dearth of skilled workers
To help fill jobs, 42 percent of the respondents are offering more flexible work schedules, while 47 percent are investing in training, skills development, and mentoring. Other employers have offered other perks to lure talents, including more flexible working locations (34 percent), providing joining bonuses (35 percent), and increasing wages (27 percent).