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.”
See: Can returning Singaporeans resolve the talent crunch?
Other Key Highlights in 2016
In a recent survey done by recruitment consultancy Hays, about a third of Singaporeans abroad said they would consider returning due to more job opportunities and a faster career path.
Also read: China Calling “Sea Turtles” Return with Financial Prowess and Commercial Aptitude
Image credit: fivestarsandamoon.com