Singapore Hiring Activity To Remain Strong In Q4
SINGAPORE – Despite economic and geopolitical issues, a research by staffing company ManpowerGroup that was just published showed that exactly 50 percent of 510 firms polled here intend to hire more personnel by Q4 2022, reported The Business Times on Tuesday morning (13 September, SGT).
“Hiring activity in Singapore is expected to remain brisk as employers continue to scale up their hiring to fill their backlog of vacancies,” said ManpowerGroup Singapore’s Country Manager Linda Teo.
This comes as some industries like finance, banking, insurance and real estate saw a sustained and robust hiring activity since the 1st quarter of 2010. Hiring intentions at these sectors rose by 10 percentage points on a quarterly basis and 44 percentage points year-on-year.
Overall, hiring sentiment in Singapore jumped by 38 percentage points compared to the same period in 2021, but it slid 4 percentage points quarter-on-quarter.
Conversely, the weakest hiring demand was seen in sectors, such as health, education, construction, social work and government, as well as other services sectors.
Globally, hiring managers in Asia Pacific anticipated the strongest hiring intentions. It is also the only region where hiring intentions increased from last quarter, with India, China and Australia having the most upbeat hiring prospects.
Despite the solid hiring sentiments, the survey discovered that 75 percent of multinational corporations are facing difficulties in recruiting roles, amidst the most acute global labour shortage in 16 years.
Singapore is no different, with the majority of employers here across all industries reporting challenges in filling roles. Still, events related to Meetings, Incentives, Conferences, and Exhibitions (MICE) are making a solid recovery, while hiring activities in related sectors like consumer-facing ones are expected to record further increases.
Furthermore, hiring demand is expected to remain high for the rest of 2022 thanks to upcoming year-end festivities, added Teo.