Follow
Site Search
 
 

Download Media Kit

Contact:
Michel Chan
Marketing Manager, Hudson Asia
Telephone: +852 2919 6181
Email: michel.chan@hudson.com

Katrina Chui
Assistant Marketing Manager, Hudson Asia
Telephone: +852 2919 6184
Email: katrina.chui@hudson.com

Media Release

Innovation plays an important part in Singapore professionals' future job hunts

Singapore – 12 July 2016 – While almost nine in 10 Singapore organisations (88%) believe they drive and reward innovation, a quarter of employees (24%) say their organisations do not encourage innovation at all, according to the latest Hudson Report: Today’s workforce demands tomorrow’s skills, released today.

In fact, findings from the survey show that only 70% of employees say their organisations encourage innovation – suggesting that employers are more confident than their people.

The new report analyses the talent landscape and provides insights on what employers might expect in 2016 and beyond, based on the views of over 630 employers and employees. The report points to a significant gap between the views of employees and managers on how businesses are managing innovation.

“Singapore employees increasingly want to be a part of something they see as innovative, funky or game-changing,” said Ms Tulika Tripathi, Managing Director, Hudson Asia. “Many desire to work for companies like Facebook, LinkedIn or Lego, not necessarily as innovators themselves but as part of a company that is seen as innovative.”

The report also found that a vast majority (89%) of Singapore professionals surveyed are currently either actively or passively looking for jobs. Hudson suggests that this may be linked to the innovation gap.

Social media creating more roles in media organisations and PR agencies

The Hudson Report also tracked hiring intentions in Singapore, and found that more than four in 10 hiring managers (43.5%) are looking to increase their permanent headcount over the next six months – more than seven percentage points (pp) higher than the latter half of 2015 (35.9%).

The net effect – or overall hiring intent – stands at 34.3%, a small shift down of 1.5 pp from 35.8% in the first half of 2016, due to a small rise in those looking to decrease headcount. The net effect is calculated by taking the percentage of employers surveyed who intend to increase permanent staff levels over the next six months, and subtracting the percentage of employers who expect to decrease staff levels.

Permanent hiring expectations: Singapore (%)

“Singapore’s job market is best described as ‘tentative’, with most employers planning to maintain current staffing levels,” said Ms Tripathi. “There is strength in key sectors, and employers with competitive talent offerings will have an edge in attracting the best people.”

Permanent hiring expectations: By sector (%)

Employers in the Media/PR/Advertising sector dominate the latest figures, with 67.6% looking to increase headcount. Social media and digital marketing are a key focus, with many hiring new talent or relying on marketing organisations to drive delivery on platforms such as LinkedIn, Facebook and WeChat.

“The switch from traditional advertising channels to newer ones, such as apps, blogs and predictive tools, has meant more work for agencies and has buoyed that sector. However, consultants need the right skills – in social and digital just as much as traditional media relations – to be in demand,” Ms Tripathi said.

Other buoyant sectors are Healthcare & Life Sciences (47.3%), Consumer (46.3%), Information Technology (41%) Manufacturing & Heavy Industry (36.4%), Education (35.5%) and Banking & Financial Services (34.8%).

“Pharma, biological and medical companies are also doing really well. There were quite a number of mergers and acquisitions in this sector last year, and now that these are bedded down, companies are looking to grow,” Ms Tripathi said.

Employers advised to focus more on skills development

The Hudson Report also found that hiring managers and employees don’t see eye to eye on the new skills that future workplaces will demand.

While 86% of employees are confident they have the skills to perform well in the future, only 62% of hiring managers agree with this. This means that four out of 10 employers doubt their team has the right skills mix for the future.

The Singapore Government is investing billions in coming years on skills development as part of its SkillsFuture programme, and encouraging Singaporeans to sign up for courses1.

Against this background, the Hudson survey found that the top three skill sets employees want to develop are negotiation and influencing skills, driving and managing change, and stakeholder engagement; whereas employers selected driving and managing change, stakeholder engagement and innovative thinking as top soft skills required for the year ahead.

“It’s important that Singapore is able to balance the skills in demand from employers with those that individuals are interested in building. Where there is a mis-match, employers need to have open conversations around why certain skills are needed and how this will benefit both the individual and the organisation,” Ms Tripathi said.

The report reveals that although organisations are aware their team may have skills gaps, only half have a defined strategy to develop their people.

Soft skills disconnect

In contrast, almost all (97%) employees feel the importance of developing new skills, and two in three (62%) feel more pressured to learn new skills compared to two years ago; yet only half of them feel supported by their managers to improve existing skills.

“Singapore professionals are keen to learn and happy to drive their career development – but employers need to meet them halfway. Unfortunately, this isn’t happening for a large number of employees. With so many people eyeing a new role, it’s more crucial than ever that organisations provide genuine career development and learning opportunities. Otherwise, employees will vote with their feet.

“Organisations that create and sell a vision of a stimulating environment, one that encourages professional development and innovative behaviours, will have better access to the cream of the talent market,” Ms Tripathi said.

– ENDS –

1 Singapore Government, Budget 2016, http://www.singaporebudget.gov.sg/data/budget_2015/download/annexa2.pdf

Editor Note
Please contact us for more information, print-ready graphs or to arrange an interview.

The Hudson Report frequently refers to the term ‘net sentiment’. The net effect figure is calculated by taking the percentage of employers surveyed that expect to increase permanent staff levels, or their contracting/temporary workforce, during the forthcoming six months and subtracting the percentage of employers surveyed that expect to decrease staff levels.

Background on Hudson Report: Forward Focus 2016
For the last decade, the Hudson Report has tracked ‘intentions to hire’ as a status check on the hiring landscape. But demand for talent is one thing, supply is another and the picture isn’t quite complete without a line of sight into the people being hired. As a result, the Hudson Report has now been expanded to include core data on job seekers and their career plans. The objective: to provide employers with key insights that help them attract and retain the best people in today’s talent market and beyond. The Hudson Report surveyed 636 employers and employees in Singapore.

About Hudson
Hudson is a global talent solutions company. We help transform the workplace and unleash the full potential of organisations and individuals. Our expert team and proprietary tools provide you with unique insights and services that help you maximise your success. Across 20 countries, we deliver a range of recruitment, talent management and recruitment process outsourcing solutions to get you and your business where you want to be. More information is available at Hudson.com.

Forward-Looking Statements
This press release contains statements that the company believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding the company's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “predict,” “believe” and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. All forward-looking statements are subject to important factors, risks, uncertainties and assumptions, including industry and economic conditions' that could cause actual results to differ materially from those described in the forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to, global economic fluctuations; risks related to fluctuations in the company's operating results from quarter to quarter; the ability of clients to terminate their relationship with the company at any time; competition in the company's markets; risks associated with the company's investment strategy; risks related to international operations, including foreign currency fluctuations; the company's ability to implement cost reduction initiatives effectively, including the recently announced restructuring program; the company's dependence on key management personnel; the company's ability to attract and retain highly skilled professionals; risks in collecting the company's accounts receivable; the negative cash flows and operating losses that the company has experienced from time to time in the past may reoccur in the future; restrictions on the company's operating flexibility due to the terms of its credit facilities; the company's heavy reliance on information systems and the impact of potentially losing or failing to develop technology; risks related to our dependence on uninterrupted service to clients; the company's exposure to employment-related claims from both clients and employers and limits on related insurance coverage; volatility of the company's stock price; the impact of government regulations; and restrictions imposed by blocking arrangements. Additional information concerning these and other factors is contained in the company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this document. The company assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Find a Contact
 
 
HUDSON - FROM GREAT PEOPLE TO GREAT PERFORMANCE®
Hudson is a global talent solutions company. We help transform the workplace and unleash the full potential of organizations and individuals. Our expert team and proprietary tools provide you with unique insights and services that help you maximize your success. Across 20 countries, we deliver a range of recruitment, talent management and recruitment process outsourcing solutions to get you and your business where you want to be.

Hudson Global Resources (Singapore) Pte Ltd
EA Licence Number: 03C4590