Contributed by Steve Greenwood, CEO of Berkley Asia.

Berkley Recruitment Group, an international search firm with offices in Singapore and Ireland, has just completed a survey of professionals within the sectors of Pharmaceutical and Life Sciences, Information Technology, and Commercial executives from a cross section of its worldwide database The Global job/workforce market sentiment survey reveals some upbeat startling indicators of the mood of Singapore based professionals, in contrast to Western Europe and the US but comparable with attitudes in China and Australia. The survey asked 14 questions including relating to salary rise expectations, job security, company performance compared to 12 months ago , motivations to move jobs (Singaporeans favoured career progression and financial over job security and job location in stark contrast to other countries surveyed) and job creation. The survey also showed that in Singapore the expectations were the highest globally in relation to pay increase expectations in 2010. Please click on www.berkley.com.sg for survey findings and comments.

Steve Greenwood, CEO of Berkley Asia will discuss some of the implications of the survey for Hiring managers and individuals seeking career moves at the next First Friday lunch on 5 March.

Headline Findings

SINGAPORE PROFESSIONAL WORKERS MOST OPTIMISTIC IN WORLD JOBS MARKET

Berkley Recruitment Group, an international search firm with offices in Singapore and Europe, has just completed a survey of professionals within the sectors of Pharmaceutical & Life Sciences, Information Technology, and Commercial Executives from a cross section of its worldwide database.

From a response of over 2800 individuals, the survey reveals some upbeat startling indicators of the mood of Singaporean based professionals:

• When asked what stage they felt the economy was at in relation to the GFC, 83% of Singaporean based candidates felt that it was near the end or over the worst, compared to a worldwide average of 65%, with the UK coming in at 67%.
• In relation to current job security (whether they were more worried, less worried or not worried about job security than 12 months ago), only 26% of Singaporean based individuals responded that they were more worried, compared to 47% UK, 52% Ireland, 52% Switzerland and 38% France. Only China at 19% came out with a more positive figure than Singapore.
• In terms of numbers of opportunities in the jobs market, candidates were asked to evaluate whether the range of openings on offer was strong, steady, or weak. Singapore came out with the highest percentile of countries rating the market as ‘strong’ at 10%. The mean figure here worldwide was 3% with the UK at 2%, Australia at 3% and China at 4.5%. Although sentiment is positive, Singaporean respondents were realistic in that 43% said the market is steady i.e. enough opportunities, but 47% rated the market as ‘weak’. This compares, however, with an average result of 71%, with the UK at 68%
• In relation to pay rises expected in these professional sectors, 48% of respondents globally expect no pay rise in 2010. China, Singapore and Australia came in at 14%, 27% and 27% respectively, with the UK at 43% and Ireland (a hotbed for pharma and biotech) registering 58%.
• The survey asked respondents to classify their level of pay increase expectation percentage wise. Only 13.5% of individuals globally expected a rise of 5% of more. Again, Chinese professionals had the highest expectation of this level of rise, at 43%, followed by Singapore and Australia at 33%. German and Irish workers were least optimistic here, with only 6% of respondents expecting a pay rise of 5% or more in 2010.
• An interesting question on the survey asked how people thought business was currently going in their company compared with 12 months ago. Asked to classify same, better or worse, the Singapore figure of 54% indicating business was better this year came well ahead of china at 40% and a global average of 30%. As evidence of the GFC easing, no country rated worse than 38% feeling that business was worse, with Singapore at 17.5%. Singaporeans feeling business was same was 28%.
• On the Human Resources issue of motivation to move job, individuals were asked to rank factors of Financial, Job Location, Career Progression, and Job Security. Reflective of the confidence of Singaporean workers, only 5% marked job security as their main motivation, compared with 13% in Switzerland and Germany, and 12% in the US. In all countries, career progression came out as the leading factor, with an average of 44%. Singapore and Australia again came out with the highest figures at 60%.In the US the figure here was just 34%, with 21% favouring financial and 17% job location. Indeed, reflective of Singapore’s size 0% placed job location as highest on the list, compared with 23% France and 16% U.K. Singapore and the U.K had the highest number of individuals favouring Financial as a motivator at 29% and 28%,closely followed by Australia at 27%.
• When asked about their view on the prospects for job creation in high end R&D roles over the next 6 months, 55% of Singapore respondents forecast an increase or significant increase in jobs, compared with 31% in the U.S, 21% U.K and 17% Switzerland. 18% of Singapore respondents still expect job losses in this sector, with UK and US faring worse at 43% and 36%.

CONCLUSIONS

• Singapore, China, Australia economies all expected to grow in 2010, and this is reflected in job market sentiment.
• Expectations of Singaporean based professional workers highest globally in relation to pay increases expected in 2010, and job creation.
• Confidence , in Europe and US, by contrast is still low, mirroring hard economic data of the rate of recovery from the GFC.
• Singaporean professionals favour career progression and financial motivators over job security, illustrating that confidence has returned quickly to the market after the job losses is 2008 and 2009.

"Our quarterly jobs sentiment survey, together with recent positive forecasts on the Singapore, and indeed regional, jobs market clearly demonstrates that Singapore is the place to be for individuals in our specialised sectors to grow their careers.”

High end roles are forecast to grow significantly, particularly in Pharmaceutical, Financial & banking and IT, where a strong concentrate of respondent come from.

“60% of Singapore respondents are optimistic for the year ahead, backed up recently by MOM statistics in job creation for 2010. 2010 will see a return to a ‘candidate market’.”

“Singapore workers are not as inclined to travel outside their on country to pursue careers, compared with mainland Europeans and the US. Singapore did not press the panic button and it could be argued that traditional swift government response to protect business and jobs is the main factor.

“Singaporean professionals are on the job hunt again not good news for staff turnover.”

“Singaporean workers rank Financial and Career progression over other factors such as job security and location, in contrast to European and US countries which are more on the defensive in terms of mood”

“53% feel there will be an increase in jobs in their sector, the reverse to UK/France/Europe. This result is
the highest ‘score’ in our Global Survey relating to the confident mood.”