Why yearend is THE best time to find a job in Singapore

If you're looking for a job in Singapore, it might sound counter-intuitive to start applying for it in December. But whether you're directly placing your resume or using recruitment agencies, the end of the year may be the best time to do it, according to recent studies and trends.

Competition

According to MasterCard Intelligence, international outbound leisure travel trips by Singaporean residents are estimated at 8.7 million in 2014, and are forecasted to grow by an average of 5.3% per year to reach 11.8 million trips by 2020.

Total outbound trips will grow about three times faster than total household growth (5.3% versus 1.7%) over the forecast period resulting in a ratio of outbound trips to households that is projected to reach 696% in 2020 from 566.1% in 2014.

Singaporean households have the highest ratio of outbound trips to households among the 14 Asia/Pacific markets. The lack of domestic tourism is possibly a strong reason for such high ratios.

Combine that with yearend where everyone attempts to clear their leave or risk forfeiture, you are going to get many people putting work (or job search) aside. And that is why it's in your best interest to take advantage of this and start your job hunting.

Given the low competition you'll be facing this time of year, there's good reason to believe that you'll have better odds at getting the career you want. What's more – employers will most likely take into account that you went through the trouble of applying during the holiday season, giving you an extra advantage from your commitment.

Job Openings

In Singapore there is an Annual Wage Supplement (AWS) and it is commonly known as the 13th month payment. It is a single annual payment to employees that supplements the total amount of annual wage earned by them.

Although not mandated, most companies in Singapore will provide for that in order to maintain competitiveness with the civil service. In addition, you may also be getting your yearend bonus together with AWS.

Add that all up, the bonus can be significant in value and people hold off quitting their job until they get that bonus. Employers then face staff shortages they need to fix before the New Year starts.

Even more relevant is that most employers will get an overview on available funds at the end of the year, which means they might decide to create new jobs for the coming year – having your resume at their disposal will definitely increase the odds of you landing the job or recruitment agencies finding one for you.

Last, but not least, some companies or employers might seek out additional help on a temporary basis for the holidays. Retailers especially might start looking for some additional workers to match the season demand, and you can take advantage of these opportunities as they usually lead to other permanent careers.