While the local workforce prepares for several changes to the employment law in 2014, the good news is local talent is predicted to be all the rage this year.
PrimeStaff’s Employment Outlook Report for the first quarter of 2014 highlighted an increase in demand for Singaporeans and Permanent Residents (PRs) as the “clampdown on the hiring of foreigners intensifies,” the company’s managing director Ronald Lee said.
According to the report, stricter foreign employment policies have also led to a renewed increase in retaining existing talents.
As a consequence of the rise in local demand, and in a bid to come up with more effective retention strategies, the report also indicated a rise in income rates for such skilled local staff.
Additionally, it highlighted the need for competency-driven and scalable skills in 2014.
“Employers will want to hire candidates who are adaptive and agile to respond to a business environment that is constantly changing,” Lee said.
However, the report predicted the first quarter of 2014 will result in a stable positive economic climate.
Buoyed by the positive economic expansion in the preceding quarters of 2013, low unemployment rates and increased hiring activities are also expected in 2014.
“Most hiring activities in the previous quarter were largely for ‘replacement’ roles, while hiring in Q1 2014 will be geared more towards new hires to drive business growth,” Lee said.