Tax professionals, internal auditors, and regulatory reporting professionals are among the skills in demand in Singapore's active jobs market for 2014, says recruiting experts Hays in Singapore.
According to the recruiter’s latest Hays Quarterly Hotspots list of skills in demand, Singapore’s jobs market is on the verge of a huge surge in activity.
“In comparison to 2012-2013, 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.”
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.
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.
In response to regularly requirements, regulatory reporting 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.
In other trends, Meads notes that contracting within banking and financial services is expected to gain even more traction in 2014. “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.