A research study conducted by a global recruitment consultancy firm found that 3 out of 5 professionals, or about 60 percent of the entire workforce, in the country resort to contract roles if desired permanent employment is out of reach. A huge number of professionals, meanwhile, view contracting positively.
The Contracting Minute 2018 survey of Page Personnel Singapore involved 3,861 professionals from the city-state, aimed at pulsing how these white-collar workers view fixed-term employment. Apart from falling back on contract roles, about 60 per cent also said they would consider if they are unemployed for an extended period of time.
Despite the increasing number of companies seeking contractors, 26 percent said they fear job insecurity while 24 percent are discouraged by lack of employee benefits. In contrast, 23 percent said they feel a lower sense of belonging to a company.
On the other hand, 55 percent of the respondents look at contract roles enthusiastically. About 23 percent said they value exposure to different industries, 20 percent value the opportunity to get into a specific organisation, and 19 percent value the flexibility and work-life balance.
Page Personnel Singapore is optimistic about contracting in the days ahead and how companies approach it in terms of policies.
"There is ongoing education with hiring managers to ensure they understand the necessity of competitive employee benefits and salaries in order for candidates to feel valued in their organisation," says Mellissa Mayne, associate director at Page Personnel, in a statement to IBTimes Singapore.
"Otherwise they will not be able to attract the talent they need for their positions. We are now seeing contracting professionals being offered completion bonuses, flexi-benefits and other benefits associated with permanent employment."
The study was conducted between October and November 2017.