Michael Page Employment Index Q1-2011

Submitted by Amit Puri - Managing Consultant, Sandbox Advisors on February 15, 2011 – 12:11 pm2 Comments

Here are the key findings from the Michael Page Employment Index, which provides insights on expectations for the economy, salaries, talent management, hiring and job opportunities in Singapore.

The professional employment market in Singapore will continue to grow strongly in the first quarter, with over half of the employers’ surveyed planning to increase staff numbers. This reflects rising confidence in domestic business conditions following 12 months of steady economic growth. Over half of the employers surveyed expect business conditions to improve in the first quarter, with a further 37% predicting conditions will remain stable.
Most companies in Singapore (56%) will be offering performance-based rewards to help retain their most valuable staff. A further 27% of businesses will be providing training and development opportunities for employees as an incentive to remain with their company. Despite the strong focus on staff retention in the first quarter, the majority of respondents in Singapore (58%) expect turnover to increase during this period. This is higher than the comparative figures for China (48%), Hong Kong (46%) and Australia (32%).
Employers in Singapore have varying levels of confidence about the strength of the global economic recovery. Some 47% of the employers surveyed are unsure about international demand for their products/services in the first
quarter, however a further 41% anticipate that demand will improve.

You can download the entire report here [Michael  Page Employment Index - Economy, salaries, talent management, hiring and job opportunities in Singapore]