Job postings are riding to the moon as we see an increase of 30.5% of job postings vis-a-vis the start of the pandemic, which is defined as 1st Feb 2020.
It also represents the biggest recent incremental jump of 7.5%, doubling the 3.5% from Feb to Mar.
Companies are revealing more and more confidence in their headcount requirements.
There are jobs across every functions
From social science to engineering to production, every function is seeing an improvement since the start of the pandemic.
Production jobs are leading the pack at 87% above pandemic level, something that should not be surprising as more production jobs are blue collar work.
As borders remain closed, employers are finding it tough to find new talents or replacements since these are jobs that generally don’t appeal to Singaporeans who favour white-collar jobs.
With bargaining power shifted to talent, the market should continue to look into talent acquisition as talents get more options and will readily move for the highest bidder.
With competition heating up to untenable levels for some companies, it may also lead to some to consider building their own talent through reskilling instead of competing against other employers with deeper pockets.
Remote jobs still riding high
Despite the ability to return partially to office in April, that did not reduce the number of job postings that centered on work conducted remotely.
Would this signal a permanent trend where remote work will become an option for more companies to consider? Time will tell.
According to the recent Microsoft Work Trend Index, more than 82 percent of workers in Singapore want flexible remote work options to stay.
Given the findings, it may make sense for more companies to strategically consider having more of their jobs to be remote-first and thus appeal to a larger set of audience.
Phase 2 (Heightened Alert)
Before we can even start relinquishing our dining tables and head back to our office as it was planned by Singapore public service in late March, we are hit with the tightening of measures due to the spike in community covid19 cases.
This may potentially have an impact on the number of overall job postings as sentiment is less rosy. Some businesses already shut their doors and harsher measures will only accelerate more demise.
Going forward, the number of job postings may experience a slight dip in May/June but if all is good, the uptick should resume from late June.
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