Here's what Singapore's healthy business environment means for recruitment

The 2014 Page Personnel Singapore Salary & Employment Forecast reveals some 54% of all employers within finance, office support, IT, and sales and marketing believe current hiring activity for junior to mid level staff in Singapore is steady compared to 12 months ago.

A further 34% of employers surveyed believe it is stronger or slightly stronger. This is due in part to an increasing number of companies that continue to choose Singapore as the location of their regional or global headquarters.

Pharmaceutical companies in particular are continuing to establish a presence in Singapore as it is the central location for activity and developments within this industry, and this is driving demand for junior to mid level professionals. Hiring activity in the local manufacturing sector is likely to stabilise in line with the recovery of the US economy.

Overall, industries such as healthcare, oil and gas, technology, insurances, professional services, and commodities are also expected to be key areas of growth in Singapore. This will drive recruitment activity for junior to mid level professionals in roles across IT, finance, and business support.

However, this healthy business environment will pose a challenge to hiring employers as they compete to secure talent in the coming year. The report findings reveal almost half of surveyed employers (48%) expect a professional skills shortage this year.

In particular, the supply of junior to mid level sales professionals is likely to be limited as demand for this talent increases with companies looking to expand their sales operations.

Another hiring struggle for companies this year will be overcoming the shortage of junior to mid level professionals with regional exposure and expertise in business partnering. Communications and language skills will also be in demand as employers look for professionals with these proficiencies to sustain local and regional operations.

Further, regulatory changes in Singapore, such as revisions on the issuance of S-Passes and E-Passes to include more stringent requirements and lowered issued quotas, have made it harder for foreign professionals seeking employment in Singapore.

Companies such as retailers and organisations with shared services that rely heavily on overseas talent are finding it increasingly difficult to recruit skilled professionals as they compete to attract the same local candidates from a limited talent pool.

To attract professionals to work within their business, employers will implement a range of financial and non-financial rewards. According to the report, 29% of employers say recognition and reward (i.e. salary increases) is the most popular tool for staff attraction and retention, followed by 28% who will implement structured career progression.

Other strategies include developing long-term recruitment strategies and processes and improving corporate culture.

From a candidate perspective, compensation is likely to be a key factor for junior to mid level professionals looking to move into a new role. However, there is also an increasing focus from jobseekers on opportunities for career growth, and the experience and skills they can acquire in a new role.

View the full 2014 Page Personnel Singapore Salary & Employment Forecast online here.