Skills in High Demand in Singapore 2016
- Posted by Lee Bon
- On 20.03.2017
Internal Auditors, Site Engineers, Security Engineers and Business Development Managers are just four of the skills in demand as we welcome an active jobs market for 2016 in Singapore.
According to the recruiter’s latest list of skills in demand, Singapore’s jobs market is on the verge of a huge surge in activity.
“In comparison to 2014-2015, employer sentiment is far more optimistic and is a reflection that South East Asia continues to move from strength to strength,” says Chris Mead, Regional Director of Hays in Singapore & Malaysia. “Once bonuses are awarded and new budgets are in place, vacancy activity will leap forward as candidates explore their options and employers recruit new and replacement talent.
“In most sectors there will be a good mix of both new and replacement roles, and the focus will remain on hiring local Singaporean talent.”
In other trends, Chris notes that contracting within banking and financial services is expected to gain even more traction in 2016. “From private wealth clients up to large full service international banks, all employers are expanding their contract and temporary headcount to help with financial reporting and ongoing finance change,” he says.
“The use of temporary staff is also growing in the IT sector, which is a major change as traditionally the use of flexible workforce strategies was relatively low in Singapore compared to international standards.
“When they recruit, employers across all sectors are also very selective in an attempt to minimize their attrition rate and attract the right candidate,” he said.
A selection of skills in demand from for January to March 2016 follows:
- Tax Professionals – A shortage of tax professionals exists across the board for both direct and indirect tax. Employers are looking for candidates with a mix of experience in both commercial and practice firms. Regional and transfer pricing experience is also in demand.
- Internal Auditors – Given Singapore’s position as a regional hub, many multinational enterprises are building their regional internal audit centres here. This is fuelling high demand for quality Auditors.
- Regulatory Reporting – In response to regularly requirements, these professionals are needed in financial services. Regulatory Reporting is becoming a more complex area, with employers looking for ever increasing technical abilities and focused exposure.
Private Banking Relationship Managers – This is one of the biggest growth areas in Singapore. The surge of wealth coming into Asia has led to a scramble by private banks to attract highly experienced Relationship Managers.