Skills in demand this quarter

According to our latest Hays Quarterly Report, experienced Chemical Engineers, Marketing and Business Development Managers and supply chain professionals are just some of the skills in demand in Singapore. However, finding good people with the right skills remains a challenge for employers.

Employers are looking at new strategies in an effort to address the talent challenge, particularly as many employers have become reliant on foreign workers to fill many of their vacancies. Although in some sectors such as banking there remains little interest in relocating offshore candidates due to the associated costs, in others the domestic shortage has forced employers to look overseas.

We are a small city state, and in response to this skills shortage, employers need to devise new strategies to adapt. In the past, foreign workers have been vital to overcoming our skills shortage and ensuring economic growth. But the government’s moves to reduce foreign hires in the manufacturing and services industries will naturally see the pool of suitable candidates contract. With foreigners only allowed to make up a reduced percentage of the workforce, employers will need to look at other strategies to overcome the local skills shortage.

Such strategies include the up-skilling of existing staff, recruiting candidates based on potential and then offering training, and retaining mature-age workers.

Another is the use of contractors to ensure workloads are completed while a permanent employee is sourced. Interestingly, Singapore’s contract market has matured and there has been a steady increase in both contract roles on offer and candidates willing to fill them.

You can view the full Hays Quarterly Report at www.hays.com.sg/report but let’s have a quick look over some of the skills in most demand for the coming quarter:

Hays Accountancy & Finance: Cost accounting, regulatory reporting, treasury and liquidity and Basel skills.
Hays Banking: In the asset management sector, candidates with experience in Asian corporate credits and sovereign credits, RFP writers, investment writers, specialists in risk and compliance, including operational risk, credit risk and liquidity risk.
Hays Contact Centres: Candidates with one to two years call centre experience.
Hays Construction: Estimators, Planning Engineers, Design Managers and Project Managers.
Hays Finance Technology: Corporate banking candidates, specialists for internet and mobile banking, IT Security and Risk (Credit & Market) and Basel III requirements.
Hays Human Resources: HR generalists and learning and development candidates.
Hays Information Technology: Project Managers and candidates with niche telecoms IT experience.
Hays Insurance: Candidates are needed across all departments.
Hays Legal: Solicitors, Corporate Legal Counsel and Legal Managers.
Hays Office Professionals: Corporate Secretaries, Administration Managers, High level Executive Assistants and Team Assistants.
Hays Oil & Gas: Subsea & SURF Engineers and drilling and well delivery staff.
Hays Life Sciences: Chemical Engineers, Chemists and candidates with laboratory management experience.
Hays Sales & Marketing: Marketing and Business Development Managers and digital and social media specialists.
Hays Supply Chain: Supply chain and procurement professionals.

Hays, the world’s leading recruiting experts in qualified, professional and skilled people.

The views expressed in this column are the author's own and do not necessarily reflect this publication's view, and this article is not edited by Singapore Business Review. The author was not remunerated for this article.

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Tags: Chris Mead, Hays - South East Asia