Many Singaporean businesses have temporarily suspended hiring.

VTV.vn - In Singapore, there is an emerging trend of more and more businesses temporarily suspending recruitment, and this slowdown is predicted to continue into 2026.

The current trend of "freezing" recruitment is having a certain impact on workers.

A recent survey by the National Employers Association of Singapore shows that three out of five employers (58%) plan to stop hiring in 2026, up from 50% last year.

The survey also revealed a decline in business confidence, with 72% of companies forecasting an uncertain business outlook for 2025, a significant increase from 58% in 2024.

The survey also revealed a more cautious outlook on salaries. Nearly half (48%) of businesses plan to adjust salaries or freeze salaries for the next fiscal year. Around 8% of employers are planning to cut staff.

The question is, why are businesses "freezing" recruitment? The press has pointed out several reasons.

Firstly, global and regional economic instability is making businesses cautious and limiting workforce expansion. Secondly, rising personnel costs make it difficult to attract and retain high-quality management and engineering talent, leading to a trend of "internal optimization" rather than recruitment expansion.

In addition, businesses are shifting towards lean hiring, taking advantage of opportunities to retrain employees, or applying automation to increase cost efficiency.

A specific example is the banking industry. Large banks like DBS have "temporarily halted recruitment and retrained employees" as artificial intelligence (AI) begins to reshape banking jobs.

The current "freezing" trend in recruitment is having a certain impact on workers. Job seekers – especially recent graduates and mid-level workers – will face fiercer competition and longer recruitment cycles. Those already employed – the risk of layoff is low, but salary increases and promotions are expected to slow down.

Some specialized sectors, such as technology and healthcare, are still hiring, but with stricter selection criteria, requiring multitasking capabilities and specialized skills.

The survey suggests that the "post-pandemic hiring frenzy" appears to be cooling down. For many companies in Singapore, the issue is no longer about growth but about risk mitigation. For workers and job seekers, this means they need to be more cautious and strategic.

Source: https://vtv.vn/nhieu-doanh-nghiep-singapore-tam-dung-tuyen-dung-100251204085951735.htm