More hiring activity likely this year

SINGAPORE — Hiring by companies here is expected to gain pace this year amid growing business confidence and greater political certainty following the Singapore General Elections last year, according to the Global Salary Survey by recruitment consultancy Robert Walters.

Salaries, however, are expected to remain flat in 2016, although specialists in niche areas, such as cyber security, could expect possible increases between 10 to 20 per cent, the survey found.

The most activity in terms of recruitment and new job opportunities is also expected to come from the IT sector as well as contracting positions.

Very strong demand is expected within information and cyber security as companies seek to reduce vulnerability to evolving hacking or breaching mechanisms and threats, the report said, adding that extensive overhauls of the technology risk and regulation framework have created a greater need for experienced security and technology risk professionals. Online businesses are also set to gain pace this year, creating more job opportunities.

“These efforts have resulted in an increased need for IT professionals skilled in online and digital project delivery, mobile and application development, user experience, service design, big data and marketing analytics. Specialists in these areas will continue to be popular hiring choices in 2016,” Robert Walters said in a report.

Historically, contracting has not typically been seen as a viable career option, but more highly qualified professionals are becoming ‘career contractors’ in search of a better work-life balance. As such, more companies can be expected to offer growing numbers of contract roles, the report said.

In terms of salaries, Robert Walters said it does not expect a big jump for paychecks this year, except for certain niche job roles.

A financial analyst in the accounting sector for example, could see a salary of S$65,000 to S$90,000 per annum this year on a permanent role basis, compared with S$60,000 to S$90,000 last year. Meanwhile, a sales manager in business development could draw S$80,000 to S$140,000 per annum, unchanged from last year.

A cyber security specialist in the IT industry, however, could see a salary of S$110,000 to S$250,000 per annum this year, compared with S$100,000 – S$200,000 last year.

“We do not anticipate any great rise in salaries in 2016, as inflation rates in Singapore are likely to remain flat. However, there will be niche areas, for instance cyber security, where salaries could increase markedly, possibly by 10-20 per cent, but this will be for job movers, rather than as a result of salary reviews,” the report said.

Demand for Singaporean talent is also expected to continue, as a result of government measures to moderate the inflow of imported labour and encourage the hiring of local workers.

In a possible answer to the current tight labour situation here, 82 per cent of overseas Singaporean professionals polled by Robert Walters in a separate survey indicated they are considering returning home. The poll included findings from 654 respondents.  

“There is a strong pool of local accountancy, marketing and HR professionals but it will prove more challenging to fill compliance, cyber security and e-commerce roles. In order to fill these roles, employers are encouraged to continue attracting local domestic talent as well as Singaporean talent returning home from overseas,” it said.

Select an industry sector and job role below to view the salary scales for 2015 and this year, based on the Robert Walters survey report: