88% of Singapore firms willing to hire contract professionals

88 per cent of companies in Singapore are open to the idea of hiring senior contract finance professionals, according to a survey by global human resource consultancy, Robert Half International.

With manpower costs accounting for about 40 per cent of a company's total expenses, the firms see this as a viable alternative to optimise human resource costs amid the current economic downturn.

In comparison, only 29 per cent of companies in Japan, 64 per cent in Australia and 68 per cent in Britain will consider hiring such specialists.

The survey also showed that 48 per cent of the Singapore companies polled said hiring contract finance professionals would allow the firms to gain access to specialised skills.

Six in 10 local companies said they would hire these contract staff for their expertise in strategic projects, while 34 per cent of the companies needed them for support on core business activities.

52 per cent of local companies considered short-term hire as a staffing solution to the slowing economy.

Nearly half of those polled said they expected the trend of hiring contract professionals to increase going forward.

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