Firms that don’t boost their hiring budgets will miss out on getting the right candidates.
Whilst employers in Singapore worry about the impact of skills shortages in their business operations this year, only a few will boost their recruitment initiatives.
A survey by recruitment company Hays revealed that 45% of employers have no doubt that skill shortages could hamper their business operations this year and another 49% fear it would create some negative impact.
Despite this, only 20% said they are improving their talent attraction strategies by increasing their recruitment budget.
“Finding the right talent in 2018 will be critical for companies wanting to take advantage of Singapore’s more buoyant economic outlook. We expect competition for quality candidates to intensify as companies pull out all the stops to position for growth in the year ahead,” says Lynne Roeder, managing director of Hays Singapore, in a press release.
Middle management sales (22%), middle management accountancy & finance (19%), and middle management IT roles (19%) were found to be the most difficult job positions to fill in.
A recent study by Ministry of Manpower revealed that professional, manager, executive, and technician (PMET) roles ate up almost half of job vacancies in 2017, citing lack of experienced talents keeps plaguing the segment.
Hays polled 3,000 organisations in Singapore, Japan, Hong Kong, Malaysia, and Mainland China for the study.
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