Singapore’s Job Market Displays Positive Growth Trends and Hiring Sentiment for 2024: Reeracoen Survey

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SINGAPORE, Feb. 15, 2024 /PRNewswire/ — A recent survey by Reeracoen, a leading provider of human resource services in Singapore, provides insightful revelations about employers’ hiring motivations and workforce plans across 30 industries in Singapore for 2024. The survey of 159 companies indicates a promising hiring outlook amidst economic expansion and new business ventures.

Notably, demand for specialised skill sets signals Singapore’s emphasis on building a skilled, future-ready workforce. Reeracoen Group CEO Mr Kenji Naito affirms, “The emphasis on specialised skills in Singapore’s hiring trends reflects the nation’s dedication to staying competitive and innovative in a global market. This focus is crucial for workforce development and continuous learning.”

Key Findings:

  • Hiring Plans: Out of 159 respondents, 95 (59.1%) have hiring plans for 2024, with about half of these companies (49.7%) looking to hire between 1-3 headcounts. Smaller companies show a trend of significant expansion, with some planning to hire more than ten headcounts.
  • Reasons for Hiring: The primary reasons include filling vacancies or replacements (35.8%) and catering to business expansion (34.0%). There is a notable demand for individuals with specialised skill sets (13.8%).
  • Recruitment Methods: Most companies (88.1%) rely primarily on recruitment agencies for hiring needs, with other platforms like MyCareersFuture and JobStreet also used.
  • Recruitment Agency Success: Among those using recruitment agencies, 74.8% successfully hired candidates in the past year, with hires ranging from 1 to over ten staff per company.

Mr Naito added, “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.”

The findings are integral for businesses to make strategic workforce plans aligned with emerging hiring trends. The positive sentiment also presents opportunities for job seekers to join growth-oriented companies and develop specialised skills. As Singapore charges ahead with economic transformation, continuous upgrading will be vital for long-term career success.

To access more valuable content and stay updated with Reeracoen, please visit the official website at https://www.reeracoen.sg/en/services/recruitment_solutions and follow on LinkedIn at https://www.linkedin.com/company/reeracoen-singapore-pte-ltd-/.

Reeracoen’s Group CEO, Mr Kenji Naito
Reeracoen’s Group CEO, Mr Kenji Naito

About Reeracoen Singapore Pte Ltd

Reeracoen Singapore Pte Ltd is one of Singapore’s leading recruitment agencies. With our extensive networks, we effectively source and match high-calibre candidates to our partners. Our clients enjoy peace of mind knowing that as part of the Neo-career group, Reeracoen is committed to delivering the same Japanese professionalism and service quality across our ten offices in 6 Asian countries. For more information, visit https://www.reeracoen.sg/ and follow us on social media.

 

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