Organizations that are increasing their headcount in H2’2016 plan to hire roles across specializations where 39% are functional, 25% technical, 16% roles within financial institutions and 20% others plan to fill roles that involves creativity, experience in client relations and supply chain & logistics. There is an increase in demand for sales/ BD/ Marketing and roles that require creativity and client relations because in the current business climate slow down, businesses are focusing more on attracting consumers, building business pipelines and long term sustainable partnerships with consumers.
Responses are consistent with the growth of the IT&T and Life Sciences/ Healthcare/ Pharmaceutical sectors where we see increased investments by global MNCs in Singapore. Although the Manufacturing/ Engineering/ Industrial sectors has been hit by economic slow down, in H2’2016 we see a trend in increased hiring opposite from what we have observed in H1’2016. Organizations in these sectors are bumping up on key hires to help ramp up for second half of the year and build up a sustainable business plan and pipeline towards 2017.
The consumer sector is facing more competition, change in buying modes and pattern. With Brexit, exchange rates are favourable for online purchases on overseas sites and this is increasing pressure on this sector. As compared to H1’2016 where the Technology/ Online (Digital) is more aggressive in hiring, we currently see reduced hiring or reduced headcount as companies start to stabilize their operations and streamline processes.
The Market Outlook report aims to look at the optimism of the market based on the hiring plans for each half of the year. Responses to RGF’s Market Outlook Report for H2’2016 was consolidated in Q3’2016 via online and phone polls. We personally contacted more than 500 professionals, consisting of C to director, senior and middle level management, where most of them hold regional portfolios. Respondents from different sectors were well represented:
Consumer & Digital Media
Healthcare & Life Science/ Pharmaceutical
RGF Market Outlook_Expected Headcount Change H22016