With Singapore being the first major Asian country to go into recession, it has also recovered quicker than others, experiencing a V-shaped turnaround. 2010 was a good year for the Singapore market, growing at a steady rate. The latest Antal Global Snapshot survey revealed a high level of recruitment in Singapore with 79% of companies hiring - a big improvement from the 53% recorded in June. This is coupled with one of the lowest firing levels in the region at 25%. Singapore is also one of only a couple of Asian countries that isn't predicting a rise in the number of businesses letting staff go - another indication of a strong and stable employment market.

In terms of sectors, we have seen an increase in demand for private bankers and relationship managers. In the industrial sector employers are very much looking for people with technical backgrounds as well as interpersonal skills for roles like senior sales managers. This technical ability means they are able to fully grasp the problems and needs of customers but skills such as communication are also vital to enable them to deliver a high quality of service. This demand for technical knowledge combined with other transferable skills is in fact present across most sectors for sales and business development roles as businesses ramp up activity in these areas.

Many candidates in Singapore come from overseas and there is a particular shortage of local talent. Apart from the fact that Singapore has a very small population, many local professionals seek opportunities outside of the country, particularly in China. With Singapore being a mature market, employers can be very specific in the type of person they want, however that person isn’t always available. As recruiters it’s our job to educate employers and work with them on ‘plan Bs’ to get the best person possible for the role.

Of late there have not been any major changes in salaries; however many job seekers are looking for an increase of around 20% for their next roles. As in many other countries, December is a quiet time for recruitment with many candidates postponing their job search until the new year due to end of year bonuses.

In 2011, we are expecting the market in Singapore to continue growing steadily and as conditions improve more employers will be looking for new recruits. With the government investing a significant amount in green technology, aiming to establish Singapore as a renewable energy hub, this is predicted to be a particularly strong area of recruitment over the next year. Singapore was also recently named as the 42nd most expensive city in the world by ECA International - a big jump from 79th position last year. This development may mean we see an increase in salaries as employers compete for the best talent and help employees maintain their purchasing power.