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As economic growth is expected to moderate in 2020, Singaporeans are turning to businesses to fill that gap.
According to Randstad’s Workmonitor 2019 Q4 results, 60% of Singapore-based respondents expect the economic situation to deteriorate in 2020. The same number of respondents also expect their employers to perform better financially in 2020, than in 2019.
Many Singaporeans are aware of the impact that the Sino-US trade war and moderating global trade has on our local economy. As a regional innovation hub, companies are investing in new technologies that have the potential to drive business growth.
Companies in Singapore are also venturing into deep tech such as artificial intelligence, blockchain and data science. These investments and efforts by businesses will help create more new jobs for Singaporeans.
work mobility and job satisfaction in singapore
28% had changed employers in the past six months. More than half of the survey respondents (55%) have a stronger focus on promotions in quarter four in 2019.
However, many companies may not experience the usual attrition rate this year due to the novel coronavirus outbreak. Many employers are delaying the interview process or replacing face-to-face interactions with video or phone interviews, which would slow down the recruitment process.