More employers are looking to hire staff
By Gabriel Chen
OPTIMISM continues to inch back into the private sector with more bosses saying they will take on extra staff this quarter, according to a new survey.
The proportion of employers expecting to increase staff numbers before the end of the year has increased from the second quarter – not dramatically, but enough to suggest a trend is forming.
Human resource (HR) consultancy Hudson, which conducts quarterly forecasts on prospects for white-collar workers, polled 600 executives across key business sectors in August.
It found that 34 per cent forecast increased hiring in the fourth quarter. This is up from 26 per cent in the third quarter and marks the second straight quarterly rise in hiring expectations.
Bigger wage rises expected next year
A similar poll in May showed that more bosses were willing to hire again, the first increase since the first quarter of 2007.
The new survey also found that the proportion of respondents expecting to lay off staff has fallen in every sector. Overall, just 5per cent of bosses say they will shed staff this quarter, compared with 14 per cent in the third quarter.
Almost all sectors polled plan to increase hirings, with the most bullish being health care and the life sciences, both relatively unaffected by the recession.
While hiring expectations are still lower than they were a year ago, they are certainly moving in the right direction, said Hudson’s Singapore country manager, Ms Gina McLellan.
‘It should be noted that the survey for the fourth quarter last year was completed before the Lehman Brothers collapse and the results for that quarter therefore reflect a high level of business confidence,’ added Ms McLellan.
The improving numbers underscore the belief that the worst may be over for the job market.
‘The incidence of workers on shorter work weeks and no-pay leave has stabilised and is off the peaks seen in the first two quarters,’ said NTUC deputy secretary-general Heng Chee How.
Mr Tan Soo Jin, director of search firm Amrop Hever Group Singapore, said he expects more hiring for the middle to lower levels of staff. Companies are also looking for ‘strategic senior hires’ who can generate revenue for them, he added.
Firms that are hiring told The Straits Times that they are increasing staffing levels to be ready for the uptick.
Advertising giant Ogilvy & Mather is looking to increase its 400-strong headcount here by about 10 per cent over the next six months.
‘Our business tends to lag other sectors in the economic cycle, but the recovery is now under way,’ said Mr Stephen Mangham, group chairman of Ogilvy & Mather Singapore.
Japanese manufacturer Makino Asia, which has 450 staff here, plans to lift its research and development staff number from 60 to 120 over the next two years, said chief operating officer K.S. Sankaran.
OCBC Bank is also recruiting in growth sectors like consumer and corporate banking, said its head of group human resources, Ms Cynthia Tan.
While hiring is creeping up, pay is expected to rise as well.
Two polls – by Hewitt Associates and HR Business Solutions – show that employees can expect bigger wage increases next year for Singapore and the region.
Hewitt Associates has tipped salaries here to rise by 2.6 per cent next year, while HR Business Solutions projects pay hikes for local firms to come in at 2.8 per cent next year.
Those who have clinched employment in recent times tell those laid off and looking for jobs not to give up.
Mr Wong Kok Fai was a high-flying banker earning more than $1million, but was retrenched by a major US bank in December in the wake of the financial crisis.
The director of equity derivatives scouted for similar positions at other financial firms but jobs were scarce.
After eight months of job hunting, Mr Wong, 33, clinched a regional position with a Malaysian bank. His remuneration is less, but he is pleased as this job gives him more responsibilities.
‘Keep talking to people in your industry. It’s OK to fail, but don’t quit trying,’ Mr Wong said.
gabrielc@sph.com.sg
The improving numbers underscore the belief that the worst may be over for the job market.
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