SALARY RECRUITMENT
Singapore - Employees in the engineering, technical and IT sectors can expect salary increments between 10% and 30% this year.
According to Kelly Services's latest Employment Outlook and Salary Guide 2010/11 for Singapore, minimum base salaries for project engineers and service engineers have improved by 33% and 17% respectively. Companies in the engineering and technical sector are, however, maintaining a moderate hiring approach for talent with specific skill sets. They are also looking to offer temporary and contract roles to meet the talent demand for cyclical projects.
Salaries in the IT sector also increased by 25%, compared to 2009, with the strong demand for IT architecture and solutions professionals continuing to grow. Around 70% of the hiring activities in 2010 are expected to fill new positions instead of replacing them. Demand for senior IT specialists with at least five years' of experience is set to remain strong.
Mark Sparrow, managing director for Kelly Services Singapore, said organisations would be expected to increase headcount and base salaries as their business confidence improve. But employers need to look beyond the basic pay if they want to attract and retain good talent, Sparrow added. He suggested companies should look at variable bonuses and benefits to improve the work performance level. But companies need to do more. Sparrow said, "Organisations need to incorporate other attraction and retention strategies such talent development, succession planning and employee engagement programmes to ensure that talent with critical skill sets and competencies remain with the organisation."
Employers in the accounting, banking and healthcare sectors are also planning to give a pay raises as their business prospects improves with the economic rebound. Positions in hot demand include senior accountants, finance managers, medical doctors and pharmacists. According to the survey, the Singapore public healthcare system is looking to fill 4,500 positions over the next two years. In the meantime, the sector aims to hire 1,700 in the mid-term.
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