SINGAPORE–In a recent survey conducted by HR services provider Reeracoen, it has been revealed that optimism is high among Singaporean employers, with one in two expressing plans to expand their workforce in 2024.
The survey, encompassing insights from 159 companies, showcased a robust hiring sentiment, with 59.1% of respondents indicating their intention to bring in additional staff this year. Notably, 49.7% of these employers plan to recruit up to three employees, while smaller enterprises are even more ambitious, with aspirations to hire more than 10 new staff.
The survey also shed light on the recruitment strategies adopted by these companies, with a significant 88.1% stating their reliance on recruitment agencies for their hiring plans. This preference aligns with the success observed in the previous year, where 74.8% of employers utilizing recruitment agencies reported successful recruitments, spanning from individual hires to over 10 staff per company.
While recruitment agencies remain the preferred choice for a majority of employers, some organizations have expressed an interest in leveraging platforms like MyCareersFuture and JobStreet for their hiring needs.
“The surge in hiring plans underscores the economy’s resilience and growth potential. The substantial expansion of smaller-sized companies highlights Singapore’s role as a hub for business development.” Mr Naito said.
This positive hiring outlook signals a promising trajectory for the Singaporean job market in 2024, reflecting confidence and resilience in the business landscape.