More S'pore employers plan to hire in H2
MORE employers in Singapore, notably in the banking and finance sector, are planning to increase headcount in the second half of this year.
According to a new report by Hudson on employment trends, intentions to cut staff are down 3.8 percentage points to 3.5 per cent.
About 47.3 per cent of the employers intend to increase headcount over the next six months. This is up 7.8 percentage points from the first quarter.
The banking and financial services sector reflected the strongest hiring intentions, with 56.3 per cent of employers planning to hire more staff in the second half of the year. This is up 6.3 percentage points from Q1 this year.
According to Emmanuel White, regional director of Hudson Singapore, the growing demand in banking and services is driven mainly by a focus on business-critical roles such as compliance and risk and front-office relationship positions. Insurance is also an important growth area, he noted.
The information technology and telecommunications sector, as well as the manufacturing industry sector, rank second and third, with positive hiring intentions standing at 52.4 per cent and 43.6 per cent, respectively.
In contrast, employment expectation continues to decline in the consumer sector, with 42 per cent of employers looking to increase headcount, down 1.2 percentage points from Q1.
The health-care and life sciences industry has the lowest hiring intentions among all surveyed industries, with 41.9 per cent of employers looking to increase headcount.
"Growing business sentiment is having a positive effect on the recruitment market. Compared to a year ago, the picture is much more positive. We've gone from headcount freezes to companies now looking to expand their workforce and open roles are being filled immediately," said Mr White.
THE BUSINESS TIMES