1 in 2 finance bosses to go on a hiring spree

But it's just a 'moderate expansion'.

According to the American Express/CFO Research Global Business and Spending Monitor, hiring in Singapore is also on the rise: 81% of respondents express that their companies are likely to spend the same amount or more on labour and headcount, with more than half of respondents (55%) looking to increase headcount over the next year, an increase from 50% in 2012.

The research also noted that senior finance executives worldwide, including Singapore, are generally hopeful about the prospects of economic growth over the next twelve months.

Chief Financial Officers (CFOs) in Singapore are relatively upbeat, with 77% anticipating economic expansion, which is significantly higher than last year’s figure of 47%.

Emerging markets are seen as a driver for continued growth prospects, with an uptrend in companies spending and investing more to stimulate growth. In light of these trends, the role of the CFO is also fast gaining in importance.

The ascending influence of CFOs is supporting economic growth, with a resounding 84% of finance executives expecting CFOs to demonstrate more effort in improving their company’s ability to continue to deliver value to customers.

“With the gradual recovery and moderate expansion in the economy, finance executives in Singapore have indicated that their companies are willing to spend more and dip into their cash stockpiles”, said Jennifer Berthold, Vice President & General Manager, Global Corporate Payments, American Express Singapore.

“This bodes well for Singapore’s economic future, as local companies will reap the fruits of their investments in coming years.”