Summary: As confidence levels in the Singapore economy jump, businesses are expected to pick up their hiring activities to fuel expansion plans, according to recruitment firm Robert Half.
IT professionals, along with accounting and finance executives, will be in hot demand in Singapore during the first half of 2014 as businesses expand their products, services and reach, according to recruitment firm Robert Half.
The technology sector in the country saw the largest spike in confidence levels, from 66 percent last year to 92 percent this year, according to Robert Half's study. Its research was based on a survey of more than 400 corporate leaders in Singapore: 150 senior leaders from the banking and finance services sector; 150 CFOs from the commercial sector companies; and 103 Chief Information Officers (CIOs).
Business leaders are increasing their permanent headcount to expand because they are brimming with confidence about their economic prospects, said Stella Tang, director of Robert Half Singapore.
'Last year new hires were mainly to fill jobs cut during the financial crisis. This year the new hires are for new jobs to drive growth plans,' she explained. 'Companies have the confidence to pursue growth strategies such as pushing out new products and services, as well as expanding into new markets.'
According to the survey, 35 percent of CIOs plan to add new permanent staff, 59 percent expect to maintain current levels, five percent will have a hiring freeze, and one percent are looking to reduce headcount.
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