Agenda

• Singapore’s Headlines

• About the survey

• Key findings

• Observations

• Some solutions

• Q&A

Headlines….

• S’gore still attractive to Global Firm (Business Times – Jan 29th)

• Job vacancies in services sector

highest (Business Times – Jan 29th)

• Number of job vacancies hit new high

in 2012 (Channel NewsAsia – Jan 28th)

• Several foreign firms prepare to leave

S’pore (Business Times – Feb 5th)

Headlines….

• F&B businesses find solutions for

manpower crunch (Channel NewsAsia – Jan 28th)

• Manpower cost worries most SMEs

(Biz’ Daily – Jan 18th)

• Singapore’s high cost of living may

come at a cost (CNBC – Jan 30th)

• Are women wrecking their won

careers? (Weekend – Feb 2nd)

Headlines….

• Re-employment law see positive

results (Channel NewsAsia – Feb 4th)

• Let remuneration be set according to

market principles (Channel NewsAsia – Feb 4th)

• Slower workforce growth will severely

impact businesses (Channel NewsAsia - Jan 31st)

• Call to relook curbs on foreign labour

inflow (Strait Times – Feb 4th)

Latest EDB Report

18,600

20.3

6.2

16.0

2012 Actual

19,000-22,00018,000 – 21,00020,300No. of Skilled Jobs*

16-1815.0 – 17.015.5Expected Value-Added Per Annum(S$ billion)

6.5-86.0 – 7.57.3Total Business Expenditure Per Annum (S$ billion)

11-1313.0 – 15.013.7Fixed Asset Investments (S$ billion)

2013

Forecast2012 Forecast2011 ActualIndicator

Source: Economic Development Board

*Skilled Jobs are defined as occupations in the Professional, Manager, Executive, Technician and Skilled Production Craftsman categories

latest MOM Announcement

Latest MOM report

• Annual survey.

• Combine both quantitative and qualitative research derived from our national survey of employers and our extensive involvement in the professional labour market.

• Completed by 300 clients.

• Coming from all major industry sectors covering 10 key areas of specialisation: Finance, Financial services, Healthcare & Life sciences Human Resources, Legal, Oil & Gas, Procurement & Supply Chain, Property Construction, Sales& Marketing, Technology.

About this survey

Key findings

Employers in Singapore expect their businesses to be faced with a skills

shortage in 2013 due to staff turnover across all sectors

• Staff turnover will lead to a limited supply of available talent in the white

collar job market.

• Supply Chain, Sales, Marketing and insurance areas continue to establish

their headquarters in Singapore.

• More job opportunities become available, continued demand for top talent

Challenge for employers…

Talent attraction and retention as skill shortages exist and regional knowledge

and expertise are likely to be difficult to find.

What to expect...

Salaries will rise above inflation in the next 12 months (excl. Financial

Services).

Key findings

• 56% of employers expect staff

turnover in the next 12 months.

• 42% anticipate a skills shortage.

Statistics

• 60% believe a skills shortage

will cause salaries to rise

above the rate of inflation.

• 40% indicating they will offer

salary increases of 4-6%.

• Average increment to move in

2012 was 10-15%.

Key findings

Note: inflation rate average in 2012 4.6%

• To attract and retain sought-

after talent, 35% of employers

rate recognition and reward

incentives as the most important

tool.

• 61% of employers also provide

flexible working arrangements.

Key findings

• 52% of employers offer

flexible salary packaging or

fringe benefits.

• 46% of employers will give

bonuses on a discretionary

basis.

Key findings

Fringe benefits:- Company car- Private healthcare - Pension- Gym membership- Housing- Schooling- Stock options etc.

• Recruitment activity has been steady for the last 12 months.

• Singapore continues to grow as a hub for Asia Operations.

• Increase in Regional role opportunities across all sectors .

• Increase demand for talented professional with broader Asia exposure

and experience working in China, Malaysia or Japan.

• We expect the market to remain in line with 2012.

Highlights and market observations

41% of employers in Hong Kong recognised the need to develop more targeted

attraction strategies and 33% think it will be difficult to maintain headcount.

Singapore vs. Hong Kong

42%81%… give provision of staff bonus fixed percentage on base salary

52%61%… offer flexible salary packaging

14.5%22%... will increase salaries for top performers only in 2013

SingaporeHong KongEmployers…

Some solutions

• Diversity

• Tailor made / Flexible compensations and benefits

• Recognition and career management

• Employee mobility

• Employee engagement

• Government lobbying

Q & A

As part of PageGroup, Michael Page is a leading professional recruitment

consultancy specialising in the recruitment of permanent, contract and

temporary positions on behalf of the world’s top employers.

First established in London in 1976, we’ve been bringing job seekers and

employers together for more than 30 years. The Group now operates

through 164 offices in 34 countries worldwide and our presence in the

Asia Pacific region extends across Singapore, Taiwan, China, Thailand,

Hong Kong, Japan, India, Malaysia, Australia and New Zealand.

Please contact Andrew Norton, Regional Managing Director, SEA,

andrewnorton@michaelpage.com.sg or call +65 6533 2777

About Michael Page