Hiring rates of businesses in Singapore are expected to flourish in the second half of the year, according to a new survey by Hudson.
The survey, titled Hudson Report: Employment Trends, found 47.3% of local companies intend to increase their headcount over the next six months. This was a 7.8 percentage point increase from the first quarter of the year.
Canvassing 425 local firms about their future recruitment plans, the report highlighted the banking and financial services is the industry expected to see the largest increase in number of staff.
Close to six out of 10 (56.3%) of employers in the industry stated they plan to hire more professionals in the second half of the year.
The information technology and telecommunication sector was next on the list, followed by manufacturing and industry, with positive hiring intentions standing at 52.4% and 43.6% respectively.
“Growing business sentiment is having a positive effect on the recruitment market,” Emmanuel White, general manager of Hudson Singapore said. “Business confidence is high on the back of a healthy expansion in the global economy and the expected growth of Singapore’s GDP at 2-4% for 2014.”
The report found business critical roles such as compliance and risk, and front office relationship positions to be among the hottest ones in demand over the next six months.
Information technology specialists who can leverage their technical knowledge to optimise process, support sales and create value were also found to be gaining in importance.
“The most valued candidates are those who have both deep knowledge of the local market and strong regional experiences,” White stated.
“These roles require not only a command of good technical skills, but also business acumen, strategic thinking and a deep knowledge of the industry.”