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To underscore the
positive hiring sentiment, the proportion of respondents that
indicated they would shed staff next quarter is lower by 1% (from
4% to 3%). More companies also said they would maintain the same
level of staffing in Q2 (from 56% to 60%).
"The high level
of optimism we see for quarter two, with 37% of all surveyed
employers indicating a headcount increase, is very
encouraging," said Stefanie Cross-Wilson, General Manager,
Hudson Global Resources.
The Consumer sector
recorded the best hiring intent with 42% of all respondents in
this sector indicating that they anticipate adding headcount. The
IT and Telecommunications sector follows with 39% of employers in
this sector looking to add more staff in Q2.
"Hiring in the IT
and Telecommunications sector is gradually improving. More
companies in this sector in Singapore are hiring in critical
positions to maximise the opportunities that are open to them.
Another good sign is that fewer technology companies indicate they
intend to shed staff in Q2 compared to Q1," said Caleb Baker,
Divisional Manager, IT and Telecommunications Division.
Roles in demand
Sales positions
accounted for 36% of all anticipated hires followed by
engineering/operations/technical roles at 26% and marketing and
communications/public relations at 13%.
This pattern of Sales
professionals being in most demand is observed consistently every
quarter and clearly points to
the fact that qualified sales professionals are in demand
regardless of industry.
Expected company
performance in first half of 2004 given the current economy
The Hudson Report
surveyed what respondents expect their company performance to be
in the first half of 2004. 73%
of all companies surveyed for this expect ‘Excellent’ or ‘Good’
performances as compared to 68% when the same question was asked
in the previous report. While the same proportion of companies
expect a ‘Good’ showing, the percentage of companies that see
themselves as having ‘Excellent’ performances
up to June this year increased from 5% to 9%.
What do employers
think of the job market?
Half of those surveyed
in Singapore said ‘Good’ to this question with another 4%
stating ‘Excellent’. With the strong numbers seen in expected
headcount increase, it follows that those answering in the
positive to the above question would form the majority of 54% ‘Good’
and ‘Excellent’ responses. This bodes well especially to those
looking for work or to advance their careers.
How confident are you
that the local economy is on the rebound?
According to the
results, 62% of all Singapore employers surveyed are confident
that the local economy will improve after more than two years of
slow or negative growth. A further 7% are more positive, giving ‘Very
confident’ as a reply. Only 4% are ‘Not confident’ that the
Singapore economy will improve this year with the remaining 27%
expressing a wait-and-see outlook.
"Economic growth
will lead to new jobs. Therefore, with the Singapore economy
projected to improve in 2004, companies are not only confident
that they will perform better but also anticipate increasing their
headcount. These results are inter-linked and correspond to what
is observed in the Hudson Report," said Ms. Cross-Wilson.
Is talent retention an
issue in your company in 2004?
42% answered that
talent retention will be an issue for their companies this year.
As a follow-on question, respondents were asked what talent
retention initiatives they felt their company should undertake
this year.
Across all six
industry sectors, 29% chose ‘Career management’ as the talent
retention initiative they seek most from their companies. This was
followed with 19% saying they wanted better remuneration and more
opportunities for training and skills upgrading from their
companies to stop talent outflow. (see chart below)
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Previous FrontPage Edition 6 Apr 2004
