Talent management challenges emerged as a key contender for the SME sector with recruiting and retaining key talent being cited as the top challenge by management. ‘People’ were considered the most critical factor to ensuring the growth of the SME sector.
Despite significant investments into the SME sector, nearly 1 in 2 were not of the opinion that productivity needs to be enhanced, contrary to the government stand. Furthermore, about half think that the Government needs to do more to help the SME sector.
Overall, findings indicated a positive outlook on keeping jobs and future prospects, but a cautious outlook on the global economy remains. Although, sentiment is still more positive compared to the 2009 mid-recession period. Managers responded positively to Singapore’s outlook, with 45% citing positivity compared to only 12% in 2009.
The study surveyed over 780 management personnel from June to July 2012.