Wednesday, August 19, 2009

Happy hiring days are here again!

Singapore: There's something positive, bullish and a general feeling of subdued excitement in everyone's outlook these past few weeks more so within the recruitment community.

Look around and you will see, hear and feel the difference in the air as compared to few months back.

News are abound with confident boosting plans, actions and positive forecast for hiring needs.

For some this week itself has brought in loads of business in the form of new assignments and projects that they've not seen in the past 2 months combine. Pipelines are very strong so are the billing numbers.

The feeling that I get when I spoke to couple of recruiters is that they are going to end with a strong quarter. Which needless to say is a very welcoming change indeed.

I am very confident that this positive momentum is going to see us through the remaining quarter and take off in Q1 2010 to something of a record of sort.

Some of the notable banks that are in hiring mode are Bank of America Merrill Lynch, Barclays, StanChart, ANZ, Credit Suisse and even the locals banks.

Bank of America Merrill Lynch is resorting to having specialist in-house recruiters for different streams by infusing new blood by hiring experience recruiters and also calling back some of their recruiters who were made redundant during the aftermath of BoA buying ML. They are now poised to hire financial experts and technocrats in the hundreds.

Barclays is as strong as ever with every recruiter fighting for a share of the headcount pie.

Credit Suisse on the underhand is looking for senior leaders in big numbers while they continue to build their offshore support strength.

Australia and New Zealand Banking Group which was very much a small player, an unknown entity here in Singapore is bursting in its seams with their program to built a Super Regional Bank and now added to this aggressive growth plan they also have the huge task of hiring in hundreds resources for their integration with RBS (retail, wealth and commercial businesses).

StanChart is still in the news with their plans to hire 850 priority bankers while ANZ is planning to hire over 100 private bankers over the next 18 months.

The hiring market is bullish indeed but I am positive that we are still in the initial stage of the bottom curve and we can be prepared to see much more hiring frenzies in the months to come.

Happy hunting and bigger billings to all the recruiter folks out there!


Achyut Menon said...

Joe- great post. Am positive I couldnt have started the day better!! I am glad Singapore has taken the lead-infact with 20% growth over the last yr, it has become the global leader in beating the recession!!

With 6 of the top 10 economies showing promise, am sure we can expect a brighter tomoro!

Standing by for more bullish updates!!


shakun said...

Hi Joe,

Your article left a happy smile and song in heart.

Hopefully the drought is over and we can soak in some much needed rain post cloudy glum hiring scene.

Thanks for the insights.



Joe Neitham said...

Hello AM sir and Shakun, Thanks for the comments.
Singapore truly is bubbling at the moment and hopefully the momentum will sustain.