Q4
2024
ManpowerGroup Employment Outlook Survey
Singapore Findings - Preview
© ManpowerGroup Employment Outlook Survey
Executive Summary
In the latest edition of the ManpowerGroup Employment Outlook Survey, 525 employers in Singapore were asked about their fourth quarter hiring intentions, ESG and DEIB workforce strategies, and more.
29% Singapore Net Employment Outlook: Calculated by subtracting employers planning reductions vs. those planning to hire.* Increasing 9 percentage points since the previous quarter but weakening by 7 percentage points when compared to the same time last year.
92% of companies of organizations do not have the talent they need to meet their Environmental, Social, and Governance (ESG) goals.
Nearly half (47%) of companies have formal LGBTQIA+ inclusion strategies, and another 25% are developing them.
Highest Singapore Hiring Demand:
Financials and Real Estate
Transport, Logistics and Automotive
Industrials and Materials
*Net Employment Outlook results range from +100% to –100%
Net Employment Outlook data are seasonally adjusted to mitigate the impact of typical annual hiring fluctuations.
Singapore Employment Outlook for Q4 2024
Singapore Net Employment Outlook
46%
17%
36%
1%
of employers anticipate an increase in hiring
anticipate a decrease
report no change
are unsure
Used internationally as a bellwether of labor market trends, the Net Employment Outlook (NEO) — calculated by subtracting the percentage of employers who anticipate reductions to staffing levels from those who plan to hire — is now 29%.
Q4 Singapore Employment Outlooks - Preview
Changes Over Time
Net Employment Outlook Changes Over Time
Singapore's outlooks have increased by 9 percentage points since the previous quarter but weakened by 7 percentage points when compared to the same time last year.
Singapore Workforce Trends
Q4 Singapore Workforce Trends - Preview
Gen Z Workforce Employer Sentiment in Singapore
Workplaces Advancing LGBTQIA+ Inclusion
Nearly half (47%) of companies have formal LGBTQIA+ inclusion strategies and another 25% are developing them.
No Action Taken
10%
Initiating
18%
No formal strategy but rely on common courtesy and manners
25%
Experimenting
Planning & developing effective approaches but haven’t implemented
Scaling
Implementing & expanding initiatives company-wide
21%
Transforming
Initiatives are fundamentally changing the company culture
15%
Leading
Leading the industry & continuously innovating new initiatives
11%
ESG Skills Gap Continues for Majority of Companies
92% of employers say they lack the talent needed to achieve their Environmental, Social, and Governance (ESG) goals.
Upskill and Train Existing Talent
62%
2022
60%
Recruit new, external talent
49%
47%
Adding ESG responsibilities to existing, current roles
51%
Bring in external consultants
37%
We have all the talent we need
8%
4%
Thank you for reading the
Download the full report for detailed findings on: - Employment outlook by sector and company size - Balance of power between employers and employees - Strategies for workforce retention - Ideas on fostering diversity and inclusion - Global employment outlook and workforce trends
Q4 2024 ManpowerGroup Employment Outlook Survey Singapore Findings - Preview
READ AGAIN
ManpowerGroup Solutions Across the Entire HR Life Cycle
Workforce Management
Talent Resourcing
Career Management
Top Talent Attraction
Strategic Workforce Planning
Workforce Consulting Analytics
Visit www.manpowergroup.com.sg to learn more.
DOWNLOAD THE REPORT
