Profiles
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Which sectors are more likely to be “recession proof” in 2012?
0 Comments | Posted by Tricia Liverpool in Commerce and Industry
With the US and UK heavily reliant on banking and financial services, the worry in 2012 is that as the major players retrench staff and cease to recruit, that the employment market will be heavily affected.
The truth is however that in certain pockets of the commercial markets, activity remains fairly steady and where some specialist skills are concerned, companies continue to hire.
Throughout 2011, sales and marketing recruitment remained particularly buoyant as a number of organisations looked to add to their sales and marketing teams. There has also been a steady increase in the demand for digital marketing skills.
Whilst hiring in the accounting and finance sector remained slow at certain levels, experienced mid-senior professionals are still drawing competitive salaries and are in high demand particularly in roles where they are instrumental in saving/making a company money as opposed to “traditional” accountants.
Similarly in IT, Singapore continues to be a hive of activity as it proves once again that it is a hub for many businesses which are expanding their operations. The demand for additional internal technical support has been steadily on the increase over the last 12 months and the volume of job opportunities for technology professionals continues to increase.
It is not all doom and gloom for banking and finance however, as the shift towards hiring project and change managers as well as contract staff means that a number of good roles are opening up on the interim side. It is early days but 2012 may still pleasantly surprise us!
We recently surveyed over 1,050 senior level operational and HR managers working across the financial services and commercial sectors in Asia Pacific. We asked them about their hiring plans for 2012 and the challenges they expect to face in the Singaporean market. Click to view the findings – Morgan McKinley Singapore Hiring Market Update.
