Getting the right talent is the biggest worry among employers, according to a survey conducted by the Singapore Chinese Chamber of Commerce and Industry (SCCCI).
Among the 215 firms polled, manpower issues were deemed more crucial than economic ones. Up to 58% of bosses find that obtaining the right staff is the biggest challenge, while 54% of them say that the global economic slowdown will affect their business the most.
“Input from many of our members indicates that a critical mass of workers is still needed in order to fulfil business orders and to maintain business operations,” said Lim Sah Soon, SCCCI secretary-general.
He also noted that the two main reasons for the lack of manpower are due to locals being unwilling to work long hours, and having unrealistic salary expectations.
In addition, the more stringent criteria for employment passes put in place by the Government have affected hiring.
“Many companies are facing increasing difficulties of renewing the work permits, S-passes and employment passes of their foreign workers and recruiting locals as immediate replacements for the foreign workers,” Lim added.
In order to cope with the lack of workers, the survey revealed that 56.5% of firms are either cutting numbers or raising productivity.
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