Employers return to hiring markets in Singapore

Updated: Oct 2, 2021

SINGAPORE: While more than one in three employers are expected to hire more staff in the coming fourth quarter, some 37% of organizations plan to scale down on hiring activities.

The finance, insurance, real estate, and manufacturing industries are expected to see the greatest headcount growth in the coming quarter, at least according to recruitment agency ManpowerGroup's regular Employment Outlook survey.

The survey also revealed that 37% of employers in the country expected to scale down on hiring activities over the same period. The remaining 26% of organisations were not anticipating any changes in hiring.

The lowest combined hiring rate (calculated by subtracting the rate of employers expecting to reduce headcount from those expecting to increase it) .was reported by employers in the services sector, with a net rate -29%. This was followed by the wholesale and retail industry at -20%, and the mining and construction sector at -19%.

According to Country Manager at ManpowerGroup Singapore, Linda Teo, the increase and decline in hiring for various industries has been prompted by the impacts of Covid-19. Although many other industries are ready to recalibrate their hiring plans, the pandemic affected the service and retail sectors globally.

According to the survey, the lack of skilled talent also caused a fall in hiring activities. Some 84% of employers in Singapore reported difficulty in hiring due to their inability to find the skills required in local markets. As a result, some 50% of organizations are planning to invest more in training of their existing workforces.

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