Hiring intentions remain positive across seven sectors in Q4
But a measly 16% of firms are looking to add manpower.
Businesses in Singapore cooled down their hiring expectations but continued to be positive in Q4, a study by the ManpowerGroup revealed. Lesser firms (16%) are looking to add manpower compared to Q3 (17%).
The Net Employment Outlook was up +13% for Q4. According to the study, only 3% expect to decrease their manpower whilst 75% thinks that their manpower will stay as it is.
Staffing levels are expected to rise across seven industry sectors with employers in the public administration & education sector having the most positive outlook (+37%) as it jumped 23 ppt from Q3.
“As more work becomes automated, organisations need to reskill and upskill their workforce to work with the new digital tools, and we believe efforts like these are contributing to the boost in hiring activity in the Public Administration & Education sector,” minister for manpower Josephine Teo said.
Sectors like the finance insurance & real estate as well as the services are expected to have a steady workforce as their outlooks were at +14% and +12%, respectively. Meanwhile, both the manufacturing and mining and construction sectors saw an outlook of +11%.
A relatively slower hiring outlook was seen in the wholesale trade and retail (9%), as well as the transportation and utilities sector (4%), the study found.
The study also noted that 56% of Singapore employers have a hard time to find candidates with the right skill set fit for the job.
“Job seekers who are not hearing back from interviewers should invest some time to pick up the latest in-demand skills to boost their chances of securing a job,” Teo commented.