Leaders are ramping hiring plans and adding new permanent roles to their teams
About four in 10 Singapore leaders are planning to ramp up hiring plans in the new year.
This, following an overall (55%) high level of confidence in business growth prospects, according to a recent study. The current economic climate, access to talent and growth opportunities are key drivers in influencing business prospects.
Of those expanding their headcount, 40% of leaders are adding new permanent positions to their teams.
Another 40% simply plan to maintain staff levels and focus on filling vacated roles, found Robert Half.
Other companies are even prioritising filling vacant temporary roles, instead of expanding headcount. About one in three leaders have plans to maintain headcount for temp positions. Technology will continue to be a key driver in the contingent employment market.
Leaders are also split on how they’ll hire to solve organisational needs.
Factors influencing hiring plans include:
- Increased workloads: 56% permanent staff, 32% temporary
- Employee turnover: 50% permanent staff, 35% temporary
- Current economic and business climate: 46% permanent staff, 32% temporary
“Companies are investing in their permanent headcount in order to optimise their operations,
maximise their existing activities and invest in new business initiatives,” said Matthieu Imbert-Bouchard, Managing Director at Robert Half Singapore.
“[This] highlights the need for businesses to ensure they have the necessary talent to assist with day-to-day operations and implement ongoing projects and initiatives.”
The continued demand for IT contractors also reflects Singapore’s drive to become a digital transformation leader, added Imbert-Bouchard.
“In a skills-short market that is vulnerable to broader economic fluctuations, employing IT staff on a temporary basis provides access to niche, low supply skills such as blockchain, AI, or cyber-security as required, allowing organisations to gain a competitive edge while eliminating the financial burden of expanding permanent headcount,” he said.
