16 July 2015

Contract positions an ideal solution for Singapore companies

The latest Singapore Contracting Survey from international recruiter Robert Walters shows that contract employment is on the rise as hiring managers utilise dynamic specialist professionals to address challenges in permanent headcount approvals. A majority of headcount freezes are often directed by head offices which leave hiring managers in Singapore searching for a flexible interim workforce solution.

The survey - completed by over 300 professionals in Singapore who are contracting or have been in a contract position - aimed to examine the benefits and challenges of working as a contractor, and provide insights to employers on how they could better leverage the contract workforce.

Joel Hides, Director, Robert Walters Singapore comments: “The reality of the current employment market across sectors is that permanent headcount restrictions exist. When news around a hiring freeze is released, this usually results in an increase in contracting opportunities. Hence, specialist contractors in Singapore are now seeing a higher percentage of jobs available for short-term employment. These opportunities are excellent chances of gaining experience in varied industries.”

Employers have the option of accessibility to specialist skills when needed for project-based assignments, maternity cover or filling in for permanent headcount freezes. In addition, line managers are also able to trial the contractor for skill sets, cultural fit and soft skills before deciding if they would like to convert the position to a permanent role.

Other findings:

• Eight in 10 contractors prefer employment contracts which exceed six months.

• More than half (55%) saw monetary incentives as a motivation for contracting positions.

• Nearly half (46%) felt that key benefits of working as a contractor include the opportunity to gain exposure to different industries.

• The lack of job security (42%) ranks as the largest challenge of taking up a contracting position.

• Almost three quarters (72%) of contractors chose recruitment agencies to secure their last contracting position.


Read more about the study

posted from Bloggeroid