HONG KONG: Permanent employment expectations in Singapore and Hong
Kong are expected to falter in the next three months dampened by fears
of a US slowdown, a new survey has found.
However, TMP Worldwide eResourcing said expectations are still
optimistic.
Its April to June Job Index for Singapore found that 53 per cent of 800
employers surveyed are planning to increase permanent head count, while
6.5 per cent expected staff levels to decrease and more than 40.5 per
cent expected staff levels to remain the same.
In Hong Kong, 48 per cent of the nearly 400 employers surveyed planned
to boost staff numbers, while 4.5 per cent expected a fall and 47.5 per
cent expected a status quo.
The sectors that showed the highest optimism in this quarter in
Singapore included advertising/communications, legal services,
telecommunications, chemical/oil and information technology.
In Hong Kong, the more buoyant sectors included
healthcare/medical/pharmaceutical and travel/tourism.
Hong Kong projected an increase of five per cent in employers expecting
a rise in staffing levels this quarter compared to 1.8 per cent in the
previous quarter.
Sales and client servicing jobs were the most sought after this quarter
in Hong Kong with computer/IT related and engineering roles also in
demand.
The survey also found that companies in Hong Kong and Singapore are
divided over whether the US economy is headed for recession this year.
"Many of those who believe it expect a slowdown rather than a
recession," according to TMP. Despite jitters over the US economy,
companies in the two cities expect to maintain revenue and staffing
levels this year.
In other areas, the survey found a greater percentage of companies in
Hong Kong base their bonus plans more on discretion than on
contracts.
TMP added: "Surprisingly there are certain companies that still do not
offer any bonus schemes." Other rewards within an organisation in the
SAR included educational incentives and pension schemes. The TMP
universe covered 10 per cent of the workforce in both markets.
