Marketing and Digital sector to increase hiring in Singapore

Submitted by Amit Puri - Managing Consultant, Sandbox Advisors on November 20, 2009 – No Comment

Permanent and temporary hiring is expected to rise in Singapore’s marketing and digital industry. This is good news for the industry that has been impacted by widespread hiring and salary freezes this year.

In the latest Aquent Market Eye survey, 86% of 206 marketing and design employers across Singapore and Kuala Lumpur predict that business sentiment will not decline over the next six months, with 66% foreseeing an improvement in economic conditions.

“Employers across Singapore are largely in agreement that the next six months will definitely be better than the last six months,” says Aquent’s regional director for Asia, Steven Pang. Branding and design agencies are particularly optimistic - with 82% predicting improved business conditions and 70% planning on increasing their permanent headcount. Sixty-five percent of PR agencies also hold similar bullish sentiments, with half saying they expect to raise employees’ salaries. At the same time, seven in ten digital agencies their permanent headcount as well. On the other hand consumer and corporate marketing employers say they are not planning to make major changes to headcount, with 38% of respondents saying they plan to use salary increases as a HR tool to reward high performers as a retention strategy.

Despite tight budgets, the use of temporary and contract staff is seen to be an increasingly popular solution for employers across South East Asia. In fact, half of PR and digital agencies and 40% of branding and design agencies are expected to build on their use of temporary staff in the coming six months. Overall, Pang says no boom is in sight, and the key phrase from employers is “cautious optimism for 2010″, with all indicators show increasing hiring and slowly increasing salaries in Singapore.

Sources and references: Sandbox Advisors, HRO, Aquent

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Amit Puri - Managing Consultant, Sandbox Advisors

Amit is an experienced career, business and HR professional. Previously, he has worked with organisations such as Bain & Company, Morgan Stanley and Citigroup. Amit has advanced degrees/qualifications in Career Counselling, Organisational Psychology & HR, Occupational Psychometrics, Career/Life Coaching, Business and Finance.