Are Singapore companies guilty of ageism despite our greying population?

SINGAPORE (Apr 3): Companies in Singapore generally view mature workers as an asset although they may not have the right facilities to accommodate such employees, suggests a new survey conducted by PersolKelly.

According to the recruitment firm’s 2019 Q1 APAC Workforce Insights report, nearly all (96%) Singapore-based respondents of the survey concurred there were benefits of working with colleagues aged 55 and above – mainly for their experience, followed by industry knowledge and good mentorship skills.

Local talent can expect a 12-15% salary hike when switching jobs this year, says recruiter

SINGAPORE (Feb 20): In spite of government projects that suggest a slight drop in hiring growth this year, recruitment specialist Michael Page is expecting job growth to continue its steady momentum across 2019 due to talent shortages and high demand for niche talent, with a focus on fintech and e-payment roles.

For 2019, the firm estimates jobseekers can look forward to an average salary increase of 12-15% when switching jobs in similar industries. 

More job openings than job seekers for 3rd consecutive quarter despite improving labour market: MOM

SINGAPORE (Dec 13): Job vacancies continue to outnumber the number of job seekers even as Singapore’s labour market showed further signs of improvement in 3Q18, finds the latest quarterly employment study by the Ministry of Manpower (MOM).

According to MOM’s Labour Market Report 3Q2018, total employment excluding foreign domestic workers (FDW) has more than doubled from the previous quarter, growing by 16,700 compared with growth of 6,500 in 2Q18.

Singapore indicates region's weakest hiring intentions for 1Q19: ManpowerGroup

SINGAPORE (Dec 11): Singapore’s hiring pace is expected to moderate in 1Q19 after three consecutive quarters of strengthening labour market activity, according to the latest ManpowerGroup Employment Outlook Survey.

After accounting for seasonal variations, ManpowerGroup notes that the net employment outlook was +10%, unchanged y-o-y but down from 11%-13% over 2Q-4Q18. This means hiring intentions declined by 3 percentage points when compared to the previous quarter, but unchanged in comparison to a year ago.  

Challenges faced by Asia Pacific employers as salaries continue to grow

SINGAPORE (Oct 2): For the first time since 2014, salary increases across 17 markets in Asia Pacific saw a mild 0.1% y-o-y rebound this year, according to the latest Salary budget Planning Survey Report (Q3) by Willis Towers Watson.  

In a press release on Tuesday, the global advisory firm says it expects the gentle upward trend to continue through 2019 due to the region’s realistic outlook for business results this year, with 60% of those surveyed expecting their company performance this year to be in line with that of 2017.

Growing talent mismatch & productivity issues taking a toll on global labour market: Hays

SINGAPORE (Sept 25): The global labour market is coming under increasing pressure even with expectations of economic growth to maintain its momentum over the next 12 months, finds the latest and seventh edition of the Hays Global Skills Index.

Based on this year’s report, Investing in the Skills of Tomorrow; Avoiding a Spiralling Skills Crisis, which is published by Hays in collaboration with Oxford Economics, the Overall Index score has increased slightly to 5.4 from 5.3 a year ago to suggest that the global labour market has come under greater strain in the last year.

HSBC plans wealth hiring spree in CEO's bet on Asia's rich

(Sept 8): HSBC Holdings Plc is planning to increase its wealth-management staff in Asia as Chief Executive Officer John Flint bets on growth in the region.

The bank plans to add more than 1,300 positions, split roughly between retail and private banking, by 2022, according to the heads of the two divisions, which between them currently employ just over 32,000 people in the region. The bulk of the hires, some of which could be internal, will be in Hong Kong and Singapore.

Asia Pacific employers still fall short of fixing the compensation divide, finds survey

SINGAPORE (Sept 18): Over half the companies in Asia Pacific are failing to compensate their staff effectively and fairly, suggests a new study conducted by Willis Towers Watson.

According to findings from the firm’s 2018 Getting Compensation Right Survey, a third of the region’s employers are still paying incentives to employees who do not meet their expectations, while four-fifths reduce their payouts to top performers when their actual incentive funding levels fall below target.

DBS avoiding ‘crazy rush’ to hire private bankers

SINGAPORE (Sept 14): DBS Group Holdings has poured cold water on the idea that private bankers can name their price when jumping ship in Asia’s booming wealth management business.

“I don’t believe that every bank needs to join in this crazy rush for talent,” Tan Su Shan, head of consumer and wealth banking at Southeast Asia’s largest lender, said Friday in a Bloomberg Television interview. DBS is promoting people internally and hiring from other areas of the financial industry to boost its private banking operations, she said.

Singapore employers report most optimistic hiring outlook since 2015: ManpowerGroup

SINGAPORE (Sept 11): Employers in Singapore continue to report stronger hiring intentions for 4Q18, according to data reported by workforce solutions company ManpowerGroup.

Based on findings from the latest ManpowerGroup Employment Outlook Survey, Net Employment Outlook (NEO) was +13% after accounting for seasonal variation. This marks the third consecutive quarters of strengthening hiring outlooks for Singapore, with employers reporting the most optimistic forecast since 2015.

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