Over half of bosses bullish about growth in 2020

In fact, 40% of businesses across IT and finance plan to add new permanent positions to their teams.

A buoyant business environment is sighted in 2020 as more than half, or 55% of Singaporean business leaders cited high levels of confidence in their business growth prospects moving into the New Year, according to a study by recruitment firm Robert Half.

Current economic climate emerged to be the top reason for high business confidence, with 57% of the 228 business executives surveyed stating it as a factor. This was followed by companies’ access to suitable talent with 54%, and growing market opportunities stated by 50% of the respondents.

When asked about their hiring plans for permanent professionals in 2020, four in 10, or 40% of business leaders across IT and finance say they will expand their headcount by adding new permanent positions to their teams, whilst another 40% plan to maintain staff levels and focus on filling vacated positions.

Following a sustained surge in the number of temporary roles created in Singapore’s professional sector, companies are now prioritising filling vacant temporary roles rather than expanding their headcount, read the report.

Technology will continue to be a key driver for Singapore’s contingent employment market with 29% of Singaporean Chief Information Officers (CIOs) saying that they will add new temporary positions to their teams in 2020.