More than half of Singaporean firms have hiring plans this year: survey

Majority rely on recruitment agencies to fill their ranks

Around 60% of local businesses revealed they have hiring plans this year, with filling vacancies, business expansion and specialised individuals among their primary reasons for hiring, according to a survey by Reenracoen Group.

The study showed nearly half are seeking one to three new employees, 7% said they are looking to hire four to six while 2.5% are seeking more than ten new employees.

“The surge in hiring plans underscores the economy’s resilience and growth potential. The substantial expansion of smaller-sized companies highlights Singapore’s role as a hub for business development,” Reenracoen CEO Kenji Naito said.

The majority of the respondents said replacement roles (36%) and business expansion (34%) were their two dominant reasons for hiring, followed by the need for personnel with specialised skillsets (14%).

Recruitment agencies were the top choice of the 159 businesses surveyed in meeting their hiring needs with a whopping 88% preferring this option, while a third preferred the city-state’s MyCareersFuture program, placing it at second.

Nearly three-fourths of the respondents managed to successfully gain new hires from these recruitment agencies in the past year, with 2.5% hiring more than ten new employees.