Thanks to a relatively healthy communications economy, 59 per cent of industry players expect to increase headcounts this quarter.
However, almost half of companies surveyed said they will not award bonuses, and 69 per cent said wages for new managerial hires would be increased by no more than 10 per cent. None would pay more than 20 per cent to attract new talent.
Meanwhile, in China, 57 per cent said they would increase salaries for senior level hires by at least 10 per cent, and a quarter by more than 20 per cent this quarter. Half said they intend to hire more people. "Compared to other sectors, advertising, media and PR is the most prudent," said Mark Sparrow, country manager of Hudson Singapore. "The sector runs on very tight margins, there's less of a performance and bonus culture.
"Singapore is a small market, and the talent pool will only ever be the size it is. Media companies should look closely at how they remunerate their best
