- Staff retention is a major focus for 60% of businesses
- 69% of employers anticipate a professional skills shortage in 2011
- 30% of companies plan to increase staff numbers in the fourth quarter
Retaining top performers is high on the priority list for employers in Singapore, according to the Michael Page Employment Index.
Some 60% of employers surveyed are already placing a major focus on staff retention strategies as the professional labour market tightens.
“In the first half of 2010 we saw aggressive hiring activity in Singapore, with most companies focusing on front line revenue generating roles to help grow their business. With the recovery now well underway, the challenge is to retain those people with the key skills needed to build and sustain business growth,” said Tulika Tripathi, Managing Director of Michael Page Singapore.
Of the companies surveyed in Singapore, 30% intend to increase staff numbers in the fourth quarter, with hiring activity due to be more evenly spread across front line, operational and back office functions.
“After a year of strong jobs growth across Asia, most companies believe that a professional skills shortage will be an issue for their business next year. This will increase the strong focus that companies are already placing on talent management as we move into 2011,” said Ms Tripathi.