HR leaders hunt for talent as Singapore's hiring outlook improves

Certain sectors reveal seven-year high

HR leaders hunt for talent as Singapore's hiring outlook improves

The forecast on Singapore's hiring outlook for the first quarter of 2022 is looking up, with a 16-percentage point improvement from the fourth quarter this year.

In the latest ManpowerGroup Employment Outlook Survey, the Net Employment Outlook for Singapore is +14%, with companies in the banking, finance, insurance, and real estate sectors showing a +28% hiring outlook, a seven-year high.

Healthy hiring outlooks in primary production were also reported, with 27%, while the sectors of information technology, telecoms, communications and media have a 26% outlook. According to Linda Teo, ManpowerGroup Singapore country manager, the boost "reflects employers' confidence in achieving a post-pandemic recovery”.

"Companies are expecting to scale up their hiring activity in the next three months to fill newly created roles to support their digital transformation. At the same time, companies are expecting to hire more due to an uptake in staff resignation rates," Teo said in a statement.

She also attributed the boost in the long hiring process amid tight competition talent, which contributed to more hiring opportunities until the next quarter. Meanwhile, hiring forecast is lowest in the sectors of education, health, social work and government, which reported a net employment outlook of -10%.

Read more: Hiring managers facing talent shortage: How are they plugging the gaps?

Vaccines and work setup

The survey also sought the hiring policies of employers when it comes to vaccination mandates and working arrangements. According to the report, 32% of employers surveyed said they will mandate double vaccination and require proof, while 20% said they will ask for proof of double vaccination and a booster shot. A smaller nine per cent, meanwhile, said they will leave it to applicants to decide on their vaccine status.

"The survey was conducted in October, before the government announced that only employees who are fully vaccinated against COVID-19 will be allowed to return to workplaces from 1 January 2022," ManpowerGroup Employment said in a statement.

When it comes to working arrangements, however, most companies are expecting workforce to report remotely, except for employees from Production/manufacturing and other customer-facing roles.

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