4 in 10 employers to expand headcount in 2021: report

The improving hiring activity is primarily driven by the technology sector.

Forty percent of Singapore employers plan to increase the number of their employees this year, according to professional recruitment services firm Michael Page Singapore’s Talent Trends 2021 Report.

The headcount expansion plans indicate an “optimistic recovery path”, according to the report, notably bouncing back as hiring activities have declined by 35% amidst the COVID-19 pandemic last year.

“In view of the economic demands, the sectors earmarked for highest hiring activity are technology and telecommunications, banking and financial services, industrial and manufacturing, FMCG, as well as professional services,” reported Michael Page.

New job opportunities in the technology sector are driving the boost in employment. Since many organisations in Singapore weren’t ready to adapt to the “new normal” introduced by movement and travel restrictions, the fintech and e-commerce sectors became role models.

“2021 will see further drive to upgrade and digitise businesses where technology professionals skilled in data engineering, data visualisation, software developing, and cybersecurity will see the most demand,” the report added.

The report also revealed that 20% of Singapore businesses expressed plans to prioritise short-term contractors or temporary employment options in their hiring strategy for 2021 to “bridge skill gaps arising from increased investment in digital tools.”