Major number of Millennials in Singapore are willing to move overseas for work, recent survey conducted by the World Economic Forum’s (WEF) Global Shapers community…
According to the latest annual Global Salary Survey from global specialist professional recruitment consultancy Robert Walters, the growth of Chinese multinational corporations (MNCs) will intensify talent competition in 2015. Professionals now view Chinese companies as an attractive employment option, due to their promising prospects and competitive remuneration packages – which often include employee stock options.
Figures from the survey suggest that job-movers received on average 15-25% increments in 2014 while those who stayed at their current companies received increments ranging between 6-8%. These trends look set to continue in 2015, and companies are likely to invest more in benefits, training and development to attract and retain the best talent.
Arthur Wang, Managing Director of Robert Walters China added:
The recruitment market is becoming even more competitive, as foreign companies continue to enter and develop in the Chinese market while fast-growing domestic companies look to expand overseas. Candidates with international experience, local market knowledge as well as strong English and Mandarin language skills are highly sought-after by these organisations. As professionals pay more attention to their long-term career paths, employers will need to offer opportunities for career progression in order to secure top talent in this candidate-driven market.
Key Highlights for 2015
As companies look at trends for 2015, especially the China market, key highlights include:
- As companies look to increase profitability and manage cost, professionals who can streamline processes and improve product quality across the supply chain, manufacturing and operations functions will be in high demand
- Internal up-skilling will continue to be a key focus for traditional internal support functions such as HR, accounting and finance. Companies are seeking professionals with strong communication skills and commercial acumen, with the ability to add value to the business
- Professionals with experience in digital, e-commerce and mobile will be highly sought-after as the digital sector continues to develop rapidly. Other key growth industries include automotive, healthcare, electronics and telecommunications
- There will be an increasing demand for mid to senior-level professionals in second-tier cities, such as Suzhou and Nanjing, as these markets continue to mature and require more experienced professionals to fill management-level positions
- New projects and investments from non-manufacturing companies, such as IT, hotels, professional services and research and development centres, will boost recruitment levels in Suzhou and Nanjing
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