Randstad Singapore has released its 2021 Market Outlook Report, which discusses the economic climate and recruitment landscape in 2021.
Jaya Dass, MD for Randstad Malaysia and Singapore said, “The increasing focus on digital transformation will no doubt drive talent demand and shape the local workforce in 2021. There will be higher demand for technologists and digitally-adept professionals skilled across all functions and industries.
“The fear of uncertainty due to the virus outbreak has very much dictated the climate in 2020, and businesses are likely to remain cautiously optimistic in 2021, depending on the rate of market recovery. With change and innovation as a constant, companies must stay agile and find new pockets of growth in 2021. As a global talent recruitment agency with a strong local market focus, it is important for us to start putting people to work so that we can achieve recovery and growth together.”
Randstad expects most firms in Singapore to further tighten budgets and re-allocate their resources accordingly, with the majority going to digital initiatives. These areas of focus will also be where there will be more hiring, the company said.
Companies in industries that are driven by growth and consumption, like banking and financial services, e-commerce, healthcare, logistics and technology are likely to remain robust in Singapore, with some even looking to expand. The growth in these industries is largely driven by the increasing use of digital technology by both businesses and consumers.
As organisations strengthen their capabilities to capitalise on the growing digital economy, the talent demand for technologists and digitally-adept professionals will increase exponentially in 2021.
However, companies in industries such as aviation, hospitality, tourism and construction are expected to undergo further business restructuring in the near future. They should remain conservative when it comes to hiring, and will likely re-engineer some roles within the organisation to meet new or additional demands, Randstad said.
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