Have you received more job offers and bonus? More good years for Sinkie!
http://www.businesstimes.com.sg/sub/storyprintfriendly/0,4582,369266,00.html?
Business Times - 22 Jan 2010
Hiring may see biggest jump in a decade
Higher starting pay and bigger bonuses also on the cards, Hudson report shows
By CHUANG PECK MING
(SINGAPORE) In a sure sign that the economic recovery has taken hold here, the first three months of the year could see the biggest jump in job recruitment in more than a decade.
Bonus payouts in Singapore for 2009 made out in January, although fewer, are also tipped to be bigger than for 2008, along with higher starting pay to attract new employees, says a poll of 400 executives by recruitment firm Hudson.
'Across all sectors, 51 per cent of respondents forecast increased hiring in Q1 2010, up from 34 per cent in the previous quarter,' the US-based firm says in its three-monthly report.
'This is the greatest quarterly rise in expectations since The Hudson Report began.'
The report was first issued in 1998.
From a year ago, the Hudson poll shows that bosses intend to grow headcount this quarter by more than double the 23 per cent figure for Q1 2009.
Employers and professional recruiters BT contacted yesterday generally backed the report, though some with reservations.
'We are witnessing an increase in hiring volume,' said David Leong, managing director of Peopleworldwide Consulting.
'This is very obvious in manufacturing, services-related and offshore marine,' he added.
The surge in hiring is in anticipation of a rebound in customer orders in the coming months, but Mr Leong said a tighter control of the inflow of foreign workers, including those in senior management ranks, has also contributed to the rush to recruit.
Elaine Ng, managing partner of HR Business Solutions, sees a 'very energetic' jobs market and reported that her corporate clients are 'very busy' recruiting at the moment, including those in the semi-conductor industry.
Josephine Teo, assistant secretary-general of the National Trades Union Congress, said the report is consistent with ground sentiments.
'The rapid turnaround shows that many companies have survived the downturn well enough to stage a quick response to emerging opportunities,' she said.
But the labour leader pointed out that there are still 'pockets of uncertainty where order books beyond six months remain unknown'.
Ho Geok Choo, chief executive officer of Human Capital Singapore, said there has been a jump in recruitment, 'possibly from companies that went on massive layoffs of employees when times were bad and are now recruiting to leverage on the improving economic conditions'.
She cautioned that there are still 'pockets of jobless recovery'.
'Many companies are just staying tight, preferring to be more cautious,' Ms Ho said.
'I'm not sure whether the sudden increase in recruitment numbers signifies permanent employment or employees are put on contract to better weather the economic cycles in some industries.'
One banker said that it is cheaper to hire now, after the bonus payments have been given out.
Hudson's poll shows the banking and financial services sector reported the biggest jump in 'expectations' to add headcount.
Some 69 per cent of those polled in the sector planned to hire in Q1, up from 43 per cent in Q4 2009.
'Hiring is taking place in all areas of back, middle and front office; in the latter, candidates with experience in private banking, corporate finance and commodities trading are especially sought after,' the Hudson report says.
The banking and financial services sector is also due to dish out the biggest bonuses, offering 'substantially more than they did last year'.
Information technology is another sector likely to make a big comeback in recruitment, with 60 per cent of the IT companies polled indicating plans to increase hiring, up from 36 per cent in Q4 2009.
The media and public relations and advertising business saw the biggest rise in hiring expectations. Some 46 per cent of the firms polled intend to grow headcount, more than twice the 18 per cent polled in Q4.
'This is the only sector where no respondents say they plan to reduce headcount this quarter,' the report says. 'Marketing and advertising firms are very sensitive to their clients' business confidence but these figures suggest that the recovery is now well-established.'
But the sector has by far the lowest share of respondents who have allocated bonus payments - just 25 per cent.
The healthcare and life sciences sector is the only sector to report a dip in expectations to recruit this quarter, falling from 44 per cent in Q4 2009 to 30 per cent in Q1 this year.
At 9 per cent, this sector also has the biggest share of respondents looking to a cut in headcount.
'Singapore has developed rapidly as a major hub for the healthcare industry and is now feeling the effects of a number of mergers as companies seek to consolidate before further expansion,' the report says.
http://www.businesstimes.com.sg/sub/storyprintfriendly/0,4582,369266,00.html?
Business Times - 22 Jan 2010
Hiring may see biggest jump in a decade
Higher starting pay and bigger bonuses also on the cards, Hudson report shows
By CHUANG PECK MING
(SINGAPORE) In a sure sign that the economic recovery has taken hold here, the first three months of the year could see the biggest jump in job recruitment in more than a decade.
Bonus payouts in Singapore for 2009 made out in January, although fewer, are also tipped to be bigger than for 2008, along with higher starting pay to attract new employees, says a poll of 400 executives by recruitment firm Hudson.
'Across all sectors, 51 per cent of respondents forecast increased hiring in Q1 2010, up from 34 per cent in the previous quarter,' the US-based firm says in its three-monthly report.
'This is the greatest quarterly rise in expectations since The Hudson Report began.'
The report was first issued in 1998.
From a year ago, the Hudson poll shows that bosses intend to grow headcount this quarter by more than double the 23 per cent figure for Q1 2009.
Employers and professional recruiters BT contacted yesterday generally backed the report, though some with reservations.
'We are witnessing an increase in hiring volume,' said David Leong, managing director of Peopleworldwide Consulting.
'This is very obvious in manufacturing, services-related and offshore marine,' he added.
The surge in hiring is in anticipation of a rebound in customer orders in the coming months, but Mr Leong said a tighter control of the inflow of foreign workers, including those in senior management ranks, has also contributed to the rush to recruit.
Elaine Ng, managing partner of HR Business Solutions, sees a 'very energetic' jobs market and reported that her corporate clients are 'very busy' recruiting at the moment, including those in the semi-conductor industry.
Josephine Teo, assistant secretary-general of the National Trades Union Congress, said the report is consistent with ground sentiments.
'The rapid turnaround shows that many companies have survived the downturn well enough to stage a quick response to emerging opportunities,' she said.
But the labour leader pointed out that there are still 'pockets of uncertainty where order books beyond six months remain unknown'.
Ho Geok Choo, chief executive officer of Human Capital Singapore, said there has been a jump in recruitment, 'possibly from companies that went on massive layoffs of employees when times were bad and are now recruiting to leverage on the improving economic conditions'.
She cautioned that there are still 'pockets of jobless recovery'.
'Many companies are just staying tight, preferring to be more cautious,' Ms Ho said.
'I'm not sure whether the sudden increase in recruitment numbers signifies permanent employment or employees are put on contract to better weather the economic cycles in some industries.'
One banker said that it is cheaper to hire now, after the bonus payments have been given out.
Hudson's poll shows the banking and financial services sector reported the biggest jump in 'expectations' to add headcount.
Some 69 per cent of those polled in the sector planned to hire in Q1, up from 43 per cent in Q4 2009.
'Hiring is taking place in all areas of back, middle and front office; in the latter, candidates with experience in private banking, corporate finance and commodities trading are especially sought after,' the Hudson report says.
The banking and financial services sector is also due to dish out the biggest bonuses, offering 'substantially more than they did last year'.
Information technology is another sector likely to make a big comeback in recruitment, with 60 per cent of the IT companies polled indicating plans to increase hiring, up from 36 per cent in Q4 2009.
The media and public relations and advertising business saw the biggest rise in hiring expectations. Some 46 per cent of the firms polled intend to grow headcount, more than twice the 18 per cent polled in Q4.
'This is the only sector where no respondents say they plan to reduce headcount this quarter,' the report says. 'Marketing and advertising firms are very sensitive to their clients' business confidence but these figures suggest that the recovery is now well-established.'
But the sector has by far the lowest share of respondents who have allocated bonus payments - just 25 per cent.
The healthcare and life sciences sector is the only sector to report a dip in expectations to recruit this quarter, falling from 44 per cent in Q4 2009 to 30 per cent in Q1 this year.
At 9 per cent, this sector also has the biggest share of respondents looking to a cut in headcount.
'Singapore has developed rapidly as a major hub for the healthcare industry and is now feeling the effects of a number of mergers as companies seek to consolidate before further expansion,' the report says.
