Hiring managers in Singapore are set to grapple with challenges in finding skilled candidates to fill roles in certain areas such as audit and risk management professionals due to a widening gap between supply and demand, according to Hays Singapore’s quarterly outlook for the Singapore job market.
According to the Hays Quarterly Report for July to September, internal auditors and regulatory reporting professionals will be among the skilled professionals that will be in high demand. Anti-money laundering professionals and global markets experts will also be in demand.
“We see a relaxation of hiring criteria by employers to find audit and risk professionals due to the increasing demand for specialists,” says Lynne Roeder, Managing Director for Hays in Singapore. “This is a key indicator that hiring managers are fully aware of the situation given the limited supply of high-calibre professionals in Singapore.”
Overall, recruitment in the quarter ahead will remain steady despite worries about an economic slowdown. Employers are looking for managers who can better execute their business strategies and expand sales channels.
“The other new trend we have seen is that companies are increasingly moving staff across from other functions to fulfil roles that are in high demand as an interim solution to fill the vacancies. Companies have also stepped up on training and development to improve skills of existing staff,” notes Roeder.