SINGAPORE 21 Jan 2016 – According to the latest annual Global Salary Survey from specialist professional recruitment firm Robert Walters, the competition for Singaporean talent is set to further intensify in 2016. This will drive more demand for attracting returning overseas Singaporeans. In the interest of developing a home-grown workforce and the Fair Consideration Framework, hiring managers have recognised the viability of overseas local talent to ease the talent crunch.
This will be a particular focus within the key areas of recruitment such as digital, cyber security, e-commerce and corporate governance. Firms looking to attract these professionals with specialist experience are likely to face the challenges of a limited talent pool and skills gap.
Data published suggested that salaries are expected to remain relatively flat in 2016, though candidates with the in-demand skills can anticipate an average salary increment of 10 — 20% when switching jobs.
Toby Fowlston, Managing Director of Robert Walters Southeast Asia, comments:
“Singapore remains a crucial economic hub for Southeast Asia and will continue to be for the foreseeable future, with a dynamic recruitment market to match. As organisations vie for the best Singaporean professionals, the hiring landscape in 2016 will be candidate driven. To gain an edge in talent attraction and retention, companies need to look beyond offering attractive salary packages. It is essential to constantly assess interview processes as well as training and development programs for stronger employer branding.”
Other Key Highlights in 2016
- Strong recruitment demand within technology, particularly for specialists in data protection and cyber security as firms defend themselves from online threats
- Perception shifts in the market on contracting has created a healthy pool of highly-qualified professionals becoming “career contractors” in search of better work-life balance
- Despite moves to a business-partnering HR function, continuous restructuring will result in leaner HR operations. Therefore HR professionals will still be expected to be more hands-on, regardless of seniority