Here are the skills in demand in Singapore right now

Project Accountants, Quantity Surveyors, and IT Technology Risk Engineers are just some of the professionals in high demand, but inflated salary expectations are pricing some Singaporeans out of securing their next job.

According to the latest Hays Quarterly Report that highlights skills in demand for the July to September quarter, Singapore’s jobs market is positive and employers are hiring. But while there is a shortage of high-level skills, employers will only increase salaries so far to secure their ideal candidate.

Many departments are seeing jobs growth. Accountancy teams are growing in size and the banking sector is adding both temporary and permanent staff.

There are technical skills shortages across engineering, IT, insurance, procurement, and oil & gas, to name a few. HR is also an active area for jobs as organisations expand, restructure, or up-skill existing workers.

So what skills do employers want?

Right now in accountancy & finance we are seeing more permanent roles in commerce, and employers are recruiting junior to mid level Project Accountants/Controllers with project skills. Financial Accountants at the mid to senior level who are flexible with good ERP experience are also sought.

In professional practice, Internal Auditors are in high demand given Singapore’s position as a regional hub, as are Compliance Professionals in response to increasingly stringent regulation and scrutiny in the financial services industry. Within financial services, Regulatory Reporting and Product Control expertise is needed.

In the banking sector Compliance Officers are in demand given new regulations and an emphasis on anti-money laundering. Projects/Change Managers are also needed to deliver cost savings and efficiency improvements.

Meanwhile, Singapore is also seeing growth in the construction jobs market. Due to upcoming and ongoing projects, employers are looking for both post- and pre-contract Quantity Surveyors with a stable employment background who can assist in the preparation of proposals. Technical Managers from a specialist contracting background are also highly regarded.

The other highlight in the current jobs market is in finance technology. As banks look to increase their profile to comply with regulatory guidelines, the demand for IT Technology Risk and Security Engineers is growing. Digital/Big Data specialists are also in strong demand and there is an ongoing race between consumer banks to understand and engage with their customers.

Singapore’s market remains very active and here is a selection of other hotspots of demand:

• Customer Service Representatives – With Singapore being one of the largest financial hubs in Asia, demand for these candidates is always strong in the banking and insurance industries. There is considerable emphasis on service excellence in this area.
• Telemarketers – Within Singapore’s competitive financial and IT industry there has been consistent demand for Telemarketers. Candidates with strong communication skills and a sales-driven attitude are in high demand for this position.
• Transport Planners – With the transport network in Singapore facing emerging challenges, demand exists for experienced Transport Planners in the region. Consultancies are now looking for local talent to assist with improving the transport infrastructure in the decade ahead.
• Mechanical Design Engineers – Detailed Design Engineers within the mechanical, MEP field are in short supply in Singapore. With the market being extremely tight at the moment, candidates are reluctant to risk a move.
• Learning & Development Experts – Learning & Development professionals are in demand by companies that are looking to up-skill workers, improve succession planning, and increase retention.
• Talent Acquisition Specialists – We are in a candidate-short market, so companies need to look at strong attraction methods to find the right calibre of staff. This has created more demand than normal for Talent Acquisition Specialists.
•  IOS/Android Developers – Singapore is becoming a hub for mobile application development on both the android and IOS platforms. Due to the large amount of government investment happening in this segment, there are numerous SME businesses starting up.
• Cloud Architects and Mobility Experts – With enterprise IT moving towards the Cloud and mobility, large corporations are investing heavily in new technology in order to reduce their physical infrastructure and costs over the mid to long term.
• Commercial Lines Underwriters – Underwriters are sought, particularly those who specialise in property, casualty insurance, and engineering. This is due to an increase in levels of urban redevelopment, affecting areas such as tunnelling, power, energy, and utilities.
• Brokers – There has always been demand for Brokers in insurance as existing customers need to be retained and protected, while new business needs to be acquired when renewals of policies are imminent.
• ISDA Negotiators – As Singapore is one of the largest banking hubs in the world, ISDA Negotiators will always be in demand. Demand is highest for professionals who have gained two to three years of relevant experience.
• Global Privacy Lawyers – With the introduction of the Personal Data Protection Act (PDPA), privacy is a big focus in Singapore. There are various banks, consultancies, and other businesses seeking to ensure their own compliance with privacy laws in the global market.
• Regulatory Affairs – Pharmaceutical Companies are ramping up their regulatory affairs expertise as a direct result of increased scrutiny on the medical sector from health boards and governments.
• Quality Assurance Technicians – This role is also consistently in demand as employers are always seeking strong hires for this sector to ensure quality assurance in their production processes.
• Office Managers – With a large influx of new companies in Singapore, we have seen higher demand for Office Managers within new startups and small businesses.
• Oil & Gas professionals – Due to the growth in construction of offshore structures in Asia, there is a shortage of Senior Project Managers (Subsea/SURF) with ‘mega project’ experience delivering major US$150 million plus value projects. We are also seeing a need for Business Development Managers, Reservoir Engineers, Senior Geophysicists and Geologists as well as Design Engineers and EPC Project Managers.
• Technology Sourcing Managers – There is constant demand within the market for experienced and available candidates with technical knowledge around IT hardware, various types of software, data centre procurement, and telecoms.
• Fit Out Project Managers – There is constant demand for professionals with these skills in both the commercial office space and retail sectors. With companies implementing renovation, relocation, or expansion plans, there is a need for experienced Project Managers to handle the fit out from start to finish.
• Sales and Business Development Managers – Companies are constantly in search of new business opportunities and untapped customers and markets, making strong candidates in this area highly sought after.
• Logistics Managers – Several larger third-party logistics companies in Singapore are hiring senior operations management professionals to run warehousing sites in Singapore. The number of new facilities being built in the country has led to opportunities for senior logistics staff to run operations on those sites.

These are just a few of the many skills in demand in Singapore; to see the full list, view the latest Hays Quarterly Report.