Manpower Group recently released its Employment Outlook Survey for the second quarter of 2022 has found that Singapore has a robust hiring outlook for the coming quarter. The poll of over 500 Singaporean employers revealed that four in ten employers plan on hiring in the coming three months whilst two-fifths are planning to keep their workplace steady.
The results reveal an 11-year high with Singaporean employers reporting a Net Employment Outlook of +25% — an 11% increase from the first quarter. Additionally, 10 out of 11 sectors report positive hiring intentions with the strongest hiring sentiments being reported by companies in IT, Technology, Communications and Media sectors. However, employers in the restaurants and hotel sector reported the weakest hiring climate reporting a negative 3% outlook.
Large organisations (those with 250+ employees) reported the strongest hiring intentions followed by small and micro-sized businesses. Medium-sized businesses (50 - 249 employees) reported the weakest hiring intention with only 4% of businesses indicating their hiring plans.
As talent acquisition strategies begin to ramp up, employers are seeking to retain their workforce with 71% of employers planning to give their staff an increase of 3% or more. Employers in IT, Manufacturing and Retail are among the most generous sectors where the increments will be the largest with 20% of organisations in these sectors indicating a raise of 5% or more versus one in ten overall. Additionally, 81% of employers reported intentions to give staff bonuses of one month or more with the most generous organisations being in the finance sector.
Paul Arkwright
Publisher
