Hudson Report (Hiring & HR Trends) - Q1 2009

The Hudson Report Quarter1 2009: Singapore employers keep hiring cautious and headcount steady.

Key Highlights -

• 23% of respondents expect to increase hiring in this quarter, down from 37% in Q4 2008, with the majority of respondents (65%) who will keep headcount steady whilst 12% of respondents will decrease headcount;
• Expectations show a substantial decline year-on-year: the 23% of respondents planning to grow headcount this quarter compared with 51% in Q1 2008;
• Expected salary increases for new managerial hires remain healthy, with 39% who will pay a 6-10% increase, and 32% who will pay 11-20% increase;
• Most respondents will give out year-end bonus payments, with only 17% of respondents planning to pay no bonuses;
• Across all sectors, 47% of respondents forecast that their company’s performance will be excellent or good in 2009, while 7% say it will be poor;
• Freezing headcount, along with global headcount approvals and strategic hiring, are HR strategies most likely to be adopted in response to the economic downturn.
  
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