Half of companies in Singapore plan to hire in 2015

Singapore's hiring activity is forecast to hit a three-year-high in 2015, with rising demands for finance and technology professionals.

According to the 2015 H1 Singapore Employment Report released by Robert Half, polling 400 senior hiring decision  makers in companies in the  "Banking and Financial Services", "Technology and IT" and "Finance and Accounting" sector, more than 50% said that they plan to increase their headcount in the first half of 2015.

This would make 2015 H1 an "extremely active and competitive employment market."

Ms Stella Tang, managing director of Robert Half Singapore said,"Two years ago, the percentage of companies making new hires was closer to a third. Now more than half of companies are increasing headcount. Robert Half’s survey shows every second company in Singapore is in a fight with their competition to secure available talent. With this many firms seeking new hires, the fight for talent will be tough. We expect talented individuals who have not been given due recognition at their existing company to seek out a new firm in return for better pay and conditions."

A huge increase in employment can be seen in companies hiring technology professionals, with a two times increase in hiring intentions and a seven times drop in headcount reduction.

The second biggest rise is in the Financial Services sector, with hiring intentions rising steadily over the past two years and companies looking to hire mid-level and senior positions.

Banks and financial services require specialised skills for their vacant positions, as such, these companies are likely to struggle with recruitment.

A rise in demand was also seen for accounting and compliance professionals across all companies.

New positions are also expected to pop up as companies break into new markets and take on new initiatives and projects, as pointed out by the senior executives.