The Outlook for Hiring in Singapore in 2018
The talent pool is changing and it is effecting hiring
A late Chinese New Year marked a delayed movement on headcount (that is still very much there) and the more strategic approach to hiring we have observed has seen employers take more time to consider their requirements.
The last 6-7 years in particular has seen so much growth in Compliance and Financial Crime that we reached a critical mass in the talent pool. Now in 2018, the transferable skills of the people originally placed into these sectors have developed into 6-7 years of directly relevant experience.
This means employers can properly assess their team’s structure and make sure they’re balancing out abilities when looking to fulfil specific gaps or needs because specialist competencies now exist. The talent pool is bigger and employers have options but we are not yet in a place of being spoilt for choice.
We have seen increases in demand for:
· Technology based Regulatory Compliance
· AML and Surveillance Monitoring
· Anti-bribery, Corruption and Fraud
An area of growth is for those with a technical compliance background. Big data and systems requirements brought on by regulatory pressures create a greater need for tangible assets that were once satisfied by advisory, product compliance roles. Regulators want to see traceable policies and procedures with testing controls from technology and surveillance rather than rely on the spoken word.
An area that remains unaffected by this change in the landscape is hiring at a senior level. The talent pool is developing but these roles require a much greater depth of experience. This is where clients rely on our network and market knowledge to place the right candidates. Our consultative approach and market maps allow us to fully understand the client’s needs and come back to them with what is available in the market place locally, regionally and globally. Our expertise allows us to consider options and points of difference and has seen us have an excellent track record in this field.
If you would like our support in strengthening your team in 2018 with the very best talent, please do get in touch.