While almost 2 in 3 plan to offer wage hikes.
Good things are bound to Singapore employees in 2017 as firms are expected to offer them 1% to 5% salary increases.
According to the latest survey by Michael Page, one in three employers are planning to increase its headcount in 2017 with almost two in three (63%) expect to offer employees a 1% to 5% salary increase. Of the companies planning to increase headcount, 6 in 10 are looking to hire at middle-management level.
The research also revealed that more than half of the companies practise employer branding which strengthens their efforts in attracting and retaining talent.
Despite predictions that the employment landscape will remain largely unchanged from 2016 with consistent hiring patterns, Michael Page regional managing director for Greater China, South East Asia & India, Anthony Thompson said market activity in Singapore is still expected to see a slight uptick, due to continued investment in three key industries.
“Digital, technology and healthcare are likely to be the country’s fastest-growing industries due to the government’s pledged efforts to boost investment in these sectors. As a result, employers across these three sectors are likely to continue hiring actively, though recruitment efforts will largely focus on filling niche roles,” he said.
In addition, the survey revealed that companies in Singapore ranked salary increase (55%), learning and development opportunities (46%) as well as workplace flexibility and work-life balance (40%) as the three most important factors in attracting and retaining Singaporean talent.
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