A hiring boom is anticipated in finance and real estate, which posted the strongest outlook. Read more at straitstimes.com.
SINGAPORE – Concerns about an economic slowdown have slightly tempered hiring optimism among employers in Singapore, though they are still prepared to pay more to attract and retain enough staff to gear up growth efforts.to less than 5 per cent, and about nine in 10 employers plan to award bonuses of one month or more to their employees, a survey of more than 500 companies found.
According to survey results released on Thursday, the net employment outlook is down 3 percentage points from the previous quarter, but up 19 percentage points from the first quarter of 2022. A hiring boom is anticipated in finance and real estate, which posted the strongest outlook – 57 per cent – among all sectors polled in Singapore, said ManpowerGroup, adding that this figure is the strongest globally for the sector.
Fewer than two in 10 employers plan to offer increments of 5 per cent to less than 7 per cent, while 4 per cent of employers plan to offer salary increments of 7 per cent or more. Employers in finance and real estate are expected to be the most generous with their bonus payouts, with 95 per cent planning to award one month’s salary or more.
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