Recruitment consultancy Michael Page released the results of their 2017 salary and employment survey for Singapore.
93% of employers in Singapore plan on maintaining or raising headcount, and only 36% said they will get new hires on board. 61% of employers who are planning to increase headcount, are actively looking for mid-level candidates.
Recently the unemployment rate in Singapore reached a six year high at 2.2%.
In Singapore 58% of companies expect a 1 to 5% salary increase for managers and senior staff. Across Asia 48% of companies expect similar increases, for all employee levels.
Sectors with the best growth/prospects are digital, technology and healthcare. As the Singapore government is aiming to invest more in these areas, the sectors will see relatively greater hiring activity.
Companies will continue to find it challenging to get headcount approval and as a result, contract/part-time jobs will gain popularity. Around 70% of firms are already using contractors, particularly in areas such as business support, technology and operations.