Staffing levels will increase despite the slowing economic climate, according to survey
Nearly half of all employers in Singapore are looking to hire in the fourth quarter of 2023, according to the findings of a new survey.
Despite the slowing economic climate in Singapore, 48% of the 510 employers to take part in the ManpowerGroup Employment Outlook Survey are expecting to continue to increase their staffing levels.
“Employers are maintaining a confident but cautious outlook towards their hiring activity, continuing to grapple with the global economic slowdown and talent shortage concerns,” says Ms Linda Teo, country manager of ManpowerGroup Singapore. “Organisations are thus more wary about accelerating hiring for now, adopting a ‘wait-and-see’ approach by keeping hiring levels steady.”
The survey was conducted in July 2023 and included private and public sector employers across nine sectors. Transport, Logistics and Automotive showed the strongest anticipated hiring demand (+60%).
Strong hiring is also expected in the Health Care & Life Sciences sector (+53%). Those in the Consumer goods & Services sector are anticipating the least hiring (+23%).
Of the respondents, 12% anticipated a decrease in their staffing levels and 38% expected their headcount not to change during Q4.
The results also show that 83% of employers in Singapore are experiencing a talent shortage, with 35% of them indicating a willingness to hire older workers to address this problem.
When it comes to the type of skills most prized by those taking part in the survey, communication, collaboration and teamwork were highest on the list of priorities (38%), with critical thinking and analysis skills a close second (33%).
Key drivers for workforce productivity were ranked by respondents, with 45% of organisations agreeing that successful work-life balance had the biggest influence.
