FIRMS are still cautious about hiring finance and accounting staff, especially for entry-level positions, despite the recent rebound in the economy and financial markets, a new survey shows.
About two-thirds of the 273 Singapore respondents to a regional survey by recruitment firm Robert Half said that they expect no big change to the number of finance and accounting staff at their organisations in the next 12 months.
But another 31 per cent said they expected their firms to increase the number of such staff in the next year, with only 3 per cent expecting a decrease.
Most - 94 per cent - said that any new finance and accounting staff recruited would be to fill new positions, while 55 per cent said new hires would be to replace staff who left or were fired in the downturn. Only 30 per cent said they would recruit finance and accounting staff to fill graduate or entry-level positions.
Finance managers were the most in demand, with 52 per cent of the Singapore respondents saying they expect to hire for that position.
A slim majority - 51 per cent - said they expect their organisation to increase salaries for finance and accounting staff in the next 12 months, but 61 per cent also said their firms had cut or frozen pay for such staff during the downturn. And any pay increases are likely to be small - 72 per cent of the Singapore respondents said that they expected the increment to be in the range of 2.5-6.4 per cent; another 13 per cent expected even less, and just 14 per cent said that pay increments of 8.5 per cent or more were likely.
The survey, which polled 1,281 human resources and finance and accounting managers in Singapore, Hong Kong, Australia and New Zealand in the first quarter of this year - found that half the Singapore respondents felt that the economic downturn was not over, against 42 per cent who said it was. The rest were unsure.
'The general market sentiment is that the global recovery is still largely uncertain at this point,' said Tim Hird, managing director of Robert Half Singapore. 'That said, companies are taking the opportunity to rethink their staffing strategies, and many are in fact ramping up their hiring now in order to lure valuable talent to their firms and position themselves for the full recovery.'
- The Business Times
Mar 28, 2010
Mar 27, 2010
Strong turnout on first day of JobsDB career fair
More than 20,000 job seekers turned up on the first day of the JobsDB career fair at Suntec Convention Centre on Friday.
About 500 companies are recruiting - double the number of last year.
The newly-opened Resorts World Sentosa has more than 2,000 job vacancies available.
The job seekers include fresh graduates from the universities and polytechnics, as well as those looking for better prospects.
Steven Seek, managing director, JobsDB Singapore, said: "Now that the economy is getting better, they would like to see what other better opportunities (are there)...And of course, there is another group of people who would like to switch from another industry to more emerging industries like the service sector."
- Channel News Asia
About 500 companies are recruiting - double the number of last year.
The newly-opened Resorts World Sentosa has more than 2,000 job vacancies available.
The job seekers include fresh graduates from the universities and polytechnics, as well as those looking for better prospects.
Steven Seek, managing director, JobsDB Singapore, said: "Now that the economy is getting better, they would like to see what other better opportunities (are there)...And of course, there is another group of people who would like to switch from another industry to more emerging industries like the service sector."
- Channel News Asia
Mar 23, 2010
Economist suggests recording how often job-seekers reject offers
SINGAPOREANS who complain about foreigners taking away their jobs may be protesting too much, a well-known Singapore economist has said.
Dr Tan Khee Giap, associate professor at the Lee Kuan Yew School of Public Policy, yesterday cited figures showing that as of last September, about three out of 10 job vacancies - or 10,140 openings - had been unfilled for at least six months.
This was roughly the same level as the year before and implies that Singaporeans are turning their noses up at some jobs, he said at a seminar on Budget 2010.
To verify this 'voluntary unemployment', he suggested that every resident worker who is unemployed for more than three months should be made to register with the Workforce Development Agency (WDA), which will have to help him find a job based on his last drawn pay.
The WDA can then track how many times each unemployed person turns down a job - much like the statistics the Housing Board recently revealed of new flat buyers turning down flat options.
Dr Tan believes the WDA rejection rate will be fairly high, and that this will quash the perception there are not enough jobs to go around for Singaporeans. In this way, it would have the same effect as the HDB figures had in terms of public housing.
- The Straits Times
Dr Tan Khee Giap, associate professor at the Lee Kuan Yew School of Public Policy, yesterday cited figures showing that as of last September, about three out of 10 job vacancies - or 10,140 openings - had been unfilled for at least six months.
This was roughly the same level as the year before and implies that Singaporeans are turning their noses up at some jobs, he said at a seminar on Budget 2010.
To verify this 'voluntary unemployment', he suggested that every resident worker who is unemployed for more than three months should be made to register with the Workforce Development Agency (WDA), which will have to help him find a job based on his last drawn pay.
The WDA can then track how many times each unemployed person turns down a job - much like the statistics the Housing Board recently revealed of new flat buyers turning down flat options.
Dr Tan believes the WDA rejection rate will be fairly high, and that this will quash the perception there are not enough jobs to go around for Singaporeans. In this way, it would have the same effect as the HDB figures had in terms of public housing.
- The Straits Times
Mar 21, 2010
Temp jobs becoming a norm
AMID the depths of the recession last year, accounts executive Wayne Ng counted his lucky stars that he had managed to secure a job with one of the big four accounting firms.
There was just one snag though - it was not a permanent job but a two-year contract.
'Obviously, I would have preferred a permanent job, but this was a chance to work with one of the most prestigious firms. It would perk up my CV... and I knew it would give me valuable exposure,' said Mr Ng.
Human resource experts agree that working under such contracts is becoming the norm, especially as the concept of a 'flexible workforce' becomes increasingly in vogue.
'It is highly likely that contract employment is here for the long run, especially with an increasingly mobile workforce,' said Mr Dhirendra Shantilal, senior vice-president Asia Pacific, Kelly Services.
And this is not necessarily a bad thing - for both employees and employers.
- The Straits Times
There was just one snag though - it was not a permanent job but a two-year contract.
'Obviously, I would have preferred a permanent job, but this was a chance to work with one of the most prestigious firms. It would perk up my CV... and I knew it would give me valuable exposure,' said Mr Ng.
Human resource experts agree that working under such contracts is becoming the norm, especially as the concept of a 'flexible workforce' becomes increasingly in vogue.
'It is highly likely that contract employment is here for the long run, especially with an increasingly mobile workforce,' said Mr Dhirendra Shantilal, senior vice-president Asia Pacific, Kelly Services.
And this is not necessarily a bad thing - for both employees and employers.
- The Straits Times
Big turnout at job fair
FROM as early as 8am, dozens of job seekers queued up to register at Sengkang Community Club for a Healthcare Career Fair yesterday - two hours before the event even started.
By noon, the place was packed with hundreds of people, mostly Singaporeans wanting to learn more about the jobs on offer and whether they were eligible to apply.
A total of 1,103 job seekers registered for the fair eventually.
The huge turnout, and the kind of people who turned up, showed a willingness in Singaporeans to try out for different jobs and undergo training for specialised occupations in the health-care sector.
Among those looking for a fresh start in the industry is Mr Sivakumar Munusamy, 38, who comes from a retail background and is currently a part-time sales assistant.
Mr Munusamy, who is keen on a job as an operating theatre assistant or health-care attendant, says he is open to switching industries as long as on-the-job training is provided.
- The Straits Times
By noon, the place was packed with hundreds of people, mostly Singaporeans wanting to learn more about the jobs on offer and whether they were eligible to apply.
A total of 1,103 job seekers registered for the fair eventually.
The huge turnout, and the kind of people who turned up, showed a willingness in Singaporeans to try out for different jobs and undergo training for specialised occupations in the health-care sector.
Among those looking for a fresh start in the industry is Mr Sivakumar Munusamy, 38, who comes from a retail background and is currently a part-time sales assistant.
Mr Munusamy, who is keen on a job as an operating theatre assistant or health-care attendant, says he is open to switching industries as long as on-the-job training is provided.
- The Straits Times
Mar 18, 2010
More than 1,600 jobs to be created
It was a vital sector that buoyed up manufacturing in a troubled 2009, and drew $1.2 billion in total fixed asset investment as well as $700 million in total business spending for Singapore in the midst of a global downturn.
Now, poised to grow between 5 and 10 per cent this year, the biomedical science sector also promises to create more than 1,600 jobs once these commitments are fully implemented.
The catch? The bulk of positions at the senior level will likely go to foreigners, as the Republic continues to grapple with the need for more experienced and qualified local talent.
According to the Economic Development Board (EDB), the sector's manufacturing output grew 2.5 per cent to some $21 billion last year in spite of the recession. This is more than triple the output in 2000.
Singapore's biomedical industry employs more than 13,000 people, and recruitment has increased over the past two years, according to analysts: Executive search firm ScienTec Consulting reported a 65-per-cent increase in senior management hires.
About half of the latter are foreigners, said ScienTec's managing director Karen Tok. "Lack of talent with both leadership and specialised biomedical sciences background such as in pharmaceutical, medical and scientific areas are the main reasons that companies look for talent from countries like Australia, Europe and the United States," she said.
While local talents may have the skills, they do not have the 20 years of experience required of some senior positions, as Singapore's biomedical sector has only grown over the last five years, Ms Tok added. Also required of senior managers these days is international exposure and commercial experience.
The problem is less severe at the junior level, where two to three years' experience is the norm and 20 per cent of hires are foreigners, Ms Tok said.
One problem that has surfaced in the past has been the shortage of PhD qualifications, needed in most research positions. Last month, a subcommittee of the Economic Strategies Committee noted that Singapore has about 1.5 PhD holders per 1,000 in the labour force, and only 35 per cent of the PhDs in local universities are citizens or permanent residents.
The job opportunities, nevertheless, are there to be had, for those with the qualifications.
Biomedical job postings on online portal JobsDB total 1,013 at the senior, middle and entry level positions, for professionals, managers, engineers, scientists and research engineers. Big advertisers include Zuellig Pharma, Astra-Zeneca and SingHealth.
Some of the big commitments made last year included Quintiles Transnational, which planned to double its presence here to more than 500; Roche, which opened a $699 million biologic manufacturing site; and Medtronic, which sank $80 million in a plant here and expects to hire more than 100 staff in two years.
To meet demand for clinical researchers, the EDB has partnered companies like Quintiles to launch training positions for Singapore residents keen on joining the sector; while the Workforce Development Agency has been developing a specialist track for clinical research professionals by the second quarter.
The industry, however, is not without head winds. In the past year, for instance, biomedical firm Rockeby announced the liquidation of its subsidiaries here, citing restructuring plans to better manage its finances.
There is also the brewing competition in the biomedical sectors of India, China and Malaysia, said DBS Group Research economist Irvin Seah. But these should not pose a big concern, he said; as the industry matures, it is natural that new players will enter while others exit.
While countries like the US have a longer history, track record and intellectual property, Singapore should remain attractive given the strong government support, vibrant business environment and infrastructure it offers biomedical companies. "At the end of the day, it is a very human capital-intensive industry - and the fact that we are able to attract global talent is a sign of the strength we have," Mr Seah said.
While the biomedical sector is likely to moderate due to over-capacity in the pharmaceutical industry, the EDB is confident it will meet its output target of $25 billion by 2015. Medical technology is seen as the likely growth segment.
More than 4,300 researchers are carrying out biomedical sciences R&D in 50 companies and 30 public-sector institutes that expend more than S$1 billion each year in R&D.
- TODAY newspaper
Now, poised to grow between 5 and 10 per cent this year, the biomedical science sector also promises to create more than 1,600 jobs once these commitments are fully implemented.
The catch? The bulk of positions at the senior level will likely go to foreigners, as the Republic continues to grapple with the need for more experienced and qualified local talent.
According to the Economic Development Board (EDB), the sector's manufacturing output grew 2.5 per cent to some $21 billion last year in spite of the recession. This is more than triple the output in 2000.
Singapore's biomedical industry employs more than 13,000 people, and recruitment has increased over the past two years, according to analysts: Executive search firm ScienTec Consulting reported a 65-per-cent increase in senior management hires.
About half of the latter are foreigners, said ScienTec's managing director Karen Tok. "Lack of talent with both leadership and specialised biomedical sciences background such as in pharmaceutical, medical and scientific areas are the main reasons that companies look for talent from countries like Australia, Europe and the United States," she said.
While local talents may have the skills, they do not have the 20 years of experience required of some senior positions, as Singapore's biomedical sector has only grown over the last five years, Ms Tok added. Also required of senior managers these days is international exposure and commercial experience.
The problem is less severe at the junior level, where two to three years' experience is the norm and 20 per cent of hires are foreigners, Ms Tok said.
One problem that has surfaced in the past has been the shortage of PhD qualifications, needed in most research positions. Last month, a subcommittee of the Economic Strategies Committee noted that Singapore has about 1.5 PhD holders per 1,000 in the labour force, and only 35 per cent of the PhDs in local universities are citizens or permanent residents.
The job opportunities, nevertheless, are there to be had, for those with the qualifications.
Biomedical job postings on online portal JobsDB total 1,013 at the senior, middle and entry level positions, for professionals, managers, engineers, scientists and research engineers. Big advertisers include Zuellig Pharma, Astra-Zeneca and SingHealth.
Some of the big commitments made last year included Quintiles Transnational, which planned to double its presence here to more than 500; Roche, which opened a $699 million biologic manufacturing site; and Medtronic, which sank $80 million in a plant here and expects to hire more than 100 staff in two years.
To meet demand for clinical researchers, the EDB has partnered companies like Quintiles to launch training positions for Singapore residents keen on joining the sector; while the Workforce Development Agency has been developing a specialist track for clinical research professionals by the second quarter.
The industry, however, is not without head winds. In the past year, for instance, biomedical firm Rockeby announced the liquidation of its subsidiaries here, citing restructuring plans to better manage its finances.
There is also the brewing competition in the biomedical sectors of India, China and Malaysia, said DBS Group Research economist Irvin Seah. But these should not pose a big concern, he said; as the industry matures, it is natural that new players will enter while others exit.
While countries like the US have a longer history, track record and intellectual property, Singapore should remain attractive given the strong government support, vibrant business environment and infrastructure it offers biomedical companies. "At the end of the day, it is a very human capital-intensive industry - and the fact that we are able to attract global talent is a sign of the strength we have," Mr Seah said.
While the biomedical sector is likely to moderate due to over-capacity in the pharmaceutical industry, the EDB is confident it will meet its output target of $25 billion by 2015. Medical technology is seen as the likely growth segment.
More than 4,300 researchers are carrying out biomedical sciences R&D in 50 companies and 30 public-sector institutes that expend more than S$1 billion each year in R&D.
- TODAY newspaper
Mar 15, 2010
Jobless rate falls to 2.1%
THE Singapore labour market showed resilience and grew for the first time amid an economic recession in 2009, with overall unemployment rate falling to 2.1 per cent last December.
It weathered the 2009 recession better than previous downturns, supported by the Resilience Package and concerted tripartite efforts to save jobs.
Employment rebounded in the second half of the year, with employment gains for residents while the foreigners' share fell, according to a labour market report for 2009 released by the Ministry of Manpower on Monday morning.
Total employment in 2009 grew by 37,600 or 1.3 per cent last year despite the economy contracting by 2.2 per cent. Local employment rose by 41,800 or 2.2 per cent, with most gains in the fourth quarter, propelled by hiring in the services sector for the year-end festivities and integrated resorts.
Employment only started to fall in the first quarter, three quarters after gross domestic product (GDP) started declining in the second quarter of 2008. This was unlike previous downturns in 2001 and 1997/98 when employment lagged GDP by two quarters, said the report.
With strong employment growth in the last quarter, the overall unemployment rate fell from a seasonally adjusted 3.4 per cent in September to 2.1 per cent in December. As the economy emerged from the recession, redundancies fell for the third successive quarter to 2,220 in Q4, returning to to pre-recession quarterly levels.
- The Straits Times
It weathered the 2009 recession better than previous downturns, supported by the Resilience Package and concerted tripartite efforts to save jobs.
Employment rebounded in the second half of the year, with employment gains for residents while the foreigners' share fell, according to a labour market report for 2009 released by the Ministry of Manpower on Monday morning.
Total employment in 2009 grew by 37,600 or 1.3 per cent last year despite the economy contracting by 2.2 per cent. Local employment rose by 41,800 or 2.2 per cent, with most gains in the fourth quarter, propelled by hiring in the services sector for the year-end festivities and integrated resorts.
Employment only started to fall in the first quarter, three quarters after gross domestic product (GDP) started declining in the second quarter of 2008. This was unlike previous downturns in 2001 and 1997/98 when employment lagged GDP by two quarters, said the report.
With strong employment growth in the last quarter, the overall unemployment rate fell from a seasonally adjusted 3.4 per cent in September to 2.1 per cent in December. As the economy emerged from the recession, redundancies fell for the third successive quarter to 2,220 in Q4, returning to to pre-recession quarterly levels.
- The Straits Times
Mar 4, 2010
Fair offers over 5,500 jobs
JOB seekers swarmed the Resorts World Sentosa's (RWS) booth at Singapore's largest career and education fair on Thursday, all wanting one of 2,000 remaining jobs up for grabs.
Career and Training 2010: Education 2010 was officially opened on Thursday by Dr Amy Khor, Senior Parliamentary Secretary for the Environment and Water Resources, and will run till Sunday.
Exhibitors include universities, polytechnics, training providers and private and public sector companies. They are jointly offering more than 5,500 jobs and 35,000 places in academic courses.
Two-thirds of the jobs on offer at RWS are for the casino and the adjoining Universal Studios theme park, while the others are in areas such as food and beverage, facilities management, security and transport.
Also at the exhibition is the Marina Bay Sands resort, which has 500 jobs on offer. A spokesman said this would be the last hiring burst before the resort opens on April 27, but did not have the number of applicants so far.
Mr Radie Joseph Jose, 24, was at both booths on Thursday. He is hoping to move into the hotel management field from his current job in customer service.
- The Straits Times
Career and Training 2010: Education 2010 was officially opened on Thursday by Dr Amy Khor, Senior Parliamentary Secretary for the Environment and Water Resources, and will run till Sunday.
Exhibitors include universities, polytechnics, training providers and private and public sector companies. They are jointly offering more than 5,500 jobs and 35,000 places in academic courses.
Two-thirds of the jobs on offer at RWS are for the casino and the adjoining Universal Studios theme park, while the others are in areas such as food and beverage, facilities management, security and transport.
Also at the exhibition is the Marina Bay Sands resort, which has 500 jobs on offer. A spokesman said this would be the last hiring burst before the resort opens on April 27, but did not have the number of applicants so far.
Mr Radie Joseph Jose, 24, was at both booths on Thursday. He is hoping to move into the hotel management field from his current job in customer service.
- The Straits Times
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