Only 2 in 5 bosses eye boosting staff headcount

While 51.5% plans to keep theirs steady.

According to Hudson's employment trends report, hiring expectations in Singapore have fallen slightly this quarter, but remain at a high level on the back of recent positive economic news in China, encouraging many companies to shift their focus to the development of current and future talent.

More than four out of 10 employers (43.2%) intend to increase headcount this quarter, and a growing number of employers intend to keep their headcount steady, up 5.4pp to 51.5%, highlighting the high demand for labour and tight-talent market. Business and consumer confidence is also up on this time last year, and is expected to remain reasonably stable throughout 2013.

The industries with the strongest intentions to hire are Manufacturing & Industrial, IT&T and Banking & Financial Services. A rebound in the Manufacturing & Industrial sector has been particularly influenced by recovery in the global and Chinese manufacturing market.

“Whilst the global economy looks set to stay sluggish, China’s economy is beginning to regain confidence, having positive flow-on effects for the Singapore economy and job market,” said Andrew Tomich, Executive General Manager, Hudson Singapore.

“At a government level, Singapore is serious about developing its resident workforce and most employers are now adopting Singaporean-first policies when recruiting, and the quota for foreign workers is set to decline. When it comes to hiring, employers are thinking local, local, local, however increasing restrictions on the available workforce are creating a shortage of suitable candidates in an already tight market.”