- 92% of employers expect business conditions to remain stable or improve in the third quarter
- 50% of respondents are seeing professionals return to Singapore because of the strong job market
- Staff retention is a key focus for 84% of businesses
A growing number of international candidates are returning to Singapore to progress their careers, according to the latest Michael Page Employment Index.
Half of the employers surveyed reported seeing professionals return from overseas markets because of strong jobs growth in Singapore.
“The influx of skilled performers is a clear indicator of the strength of the current job market in Singapore. There is a strong opportunity here for companies to acquire international talent if they have the right attraction strategies in place,” said Mr. Andrew Norton, Regional Managing Director of Michael Page, South East Asia.
Retention is also high on the agenda of employers in Singapore, with 41% of businesses placing a major focus on staff retention in the third quarter. For the vast majority of companies, training and professional development opportunities will be offered as an incentive for top performers to remain with their business.
“Talent management continues to be a core challenge for many businesses in Singapore, particularly as the competition for professional skills intensifies. Companies need to carefully consider the value they can offer to prospective candidates, and what makes their employer brand unique,” said Mr. Norton.
Confidence in the domestic business environment is high, with some 92% of employers expecting conditions to remain stable or improve in the third quarter. Companies are also optimistic about broader economic conditions, with 60% anticipating that the global economic recovery will continue at the current pace or strengthen over the next 12 months.
“Positive business conditions in Singapore will continue to attract multinationals that are looking for a regional base from which to expand their operations throughout Asia. For the domestic job market, this means a steady investment in new headcount and more opportunities for talented professionals,” said Mr. Norton.