Latest Job Market News in Singapore / SDS' Pick from January 2015
1) Hunting overseas Singaporean talents (Jan 21)
The Fair Consideration Framework, which took effect last August and requires employers to try to hire Singaporeans first, seems to be heating up causing the war for Singapore talent.
"To fulfil the market's demands, organisations are looking outside of the tight candidate pool and recognising the importantce of attracting overseas Singaporeans back home", says Mr Toby Fowlston, managing director of Robert Walters Singapore, professional global recruitment firm.
The latest annual Global Salary Survey released by Robert Walters revealed that those who were overseas and switched jobs last year could get an average 10 to 20% salary increment. Quarterly more than 2,000 registered Singaporeans are being contacted by firms if they are interested in possible job opportunities.
2) Salary increase for this year: 3-6% (Jan 21)
The 2015 Hays Asia Salary Guide reported that 54% of firms would give their staff a salary increase of 3 to 6%. (Last year, 59% of firms in Singapore gave the similar pay increase.) The report was conducted among 2,361 employers in Singapore, Malaysia, Hong Kong, mainland China and Japan.
3) Workers in manufacturing are most at risk, NTUC warns (Jan 16)
The National Trades Union Congress (NTUC) announced that 2 in 3 of the 2,212 works who were retrenched from unionised companies last year were from manufacturing sector.
As this year just started, 3 manufacturing companies have already updated NTUC that they are planning to lay off about 300 workers in the next few months.