The roller-coaster employment ride of the past year appears to be reaching more stable ground, with recruitment activity starting to rise and businesses recommencing – albeit with caution – their hiring plans, says a leading recruiter.
In its latest Hays Quarterly Report, recruiter Hays says employers have started to take a more positive approach towards their staffing needs. “Employers are approaching their recruitment with patient positivity,” said Chris Mead, General Manager of Hays in Singapore.
“Despite the economic downturn, stability is gradually returning to the market as companies plan for their future. They are now thinking about expansion and growth again. For example, we have witnessed a moderate increase in hiring activity at selected banks and in specific areas, which we expect to continue this quarter. The construction sector has also become far more positive, with demand for staff driven predominantly by infrastructure work. Contract recruitment is expected to continue to increase this quarter as companies realise it offers a viable solution to headcount freezes. A temporary assignment can be extended, or converted to a permanent position once headcount approval is achieved. This measured increase of hiring activity will continue until quarter four, when a stronger injection of vacancies is expected,” said Chris.
Employers are most commonly hiring at present in the following areas:
- Cost accountants and costing managers: “Many companies seek to improve efficiency and the quality of financial reporting, and so require these specialist roles, but there are very few of these candidates currently available in Singapore. Financial controllers and finance managers with experience in management reporting are also in demand.”
- Audit, compliance and controls within banking: “Increasing regulatory controls, a greater focus on valuations and the review of complex transactions has created this need. Market risk and project (migration and integration) candidates are also sought by banking employers.”
- Rail: “Demand continues within the construction sector for candidates with specialist experience on rail-related projects. This demand ranges from engineering to onsite construction professionals.”
- HR Executives and HR VPs and Directors: “These candidates are sought by the public sector, while the commercial sector is also refilling business critical HR positions, most commonly multi-skilled generalists and compensation and benefits experts.”
- Information Technology: “.NET, C# project managers, network operations managers and Siebel CRM candidates are in demand at present, and those with banking and telecoms industry experience are viewed particularly highly. Network operation engineers with experience in MPLS networks and TCP/IP are also sought.”
- Developers: “Risk projects are creating a need for hands-on development staff with hybrid business skills.”
- Sales professionals: “Those sales candidates with a very strong customer focus and an excellent record of delivery remain in high demand. The IT, oil & gas and FMCG industries in particular are recruiting these skills.”
- Oil & gas professionals: “The project development space is starting to return in Asia and this is reflected in an upturn in demand for EPCM staff. A number of offshore construction projects have created a need for temporary staff. Business development specialists are also required to generate sales and strengthen relationships.”