● The technology sector seeks professionals with specialised skillsets in 2018
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| Source: Robert Walters. Fowlston. |
Specialist professional recruitment firm Robert Walters has released the 2018 edition of its annual Salary Survey*. The survey shared optimistic predictions for next year, suggesting a strong economic outlook, and said that ongoing digitalisation as well as steady market expansion poised to drive salary growth next year in the Southeast Asian region. Local market candidates with strong technical skills, particularly in information technology (IT), and with international experience will be highly sought after.
The overall job market in Southeast Asia has remained active throughout 2017, despite variable economic conditions. This was largely attributed to the region attracting new market entrants and supporting the expansion of existing businesses. Despite varied country settings, digitalisation continued to be a key priority across most markets. The survey noted that this is mainly driven by a rapidly growing younger population and increased consumerism.
Toby Fowlston, MD, Southeast Asia, Robert Walters said, “The digitalisation trend that is sweeping the region has spurred many businesses to create online or mobile platforms as companies seek to enhance their competitiveness and increase market share with the consumers. As a result of these transformations, many companies were looking to hire professionals with digital expertise, across both marketing and IT, especially those who are proficient in running back office digital infrastructure or with niche technology skills.
“In addition, IT professionals in the areas of cloud computing, cyber security and big data were also in demand as these IT subsectors became key growth areas, and this trend is expected to continue in 2018.”
The focus on business transformation also helped trigger a demand for human resource (HR) professionals with experience in change management experience and especially those with a proven ability in cultural transformation.
However, the region faced challenges in terms of talent attraction and retention due to talent shortages and high staff turnover rates. Hiring managers are advised to look at simplifying and streamlining their recruitment processes to ensure timely hires, and be flexible in hiring candidates with learning potential instead of purely for their technical skills.
Despite the economic slowdown last year, Singapore remained an attractive proposition for companies looking to establish local and regional hubs. In line with the government’s drive to strengthen technology infrastructure and build a Smart Nation, businesses are expected to continue to improve their digital processes, generating permanent and temporary opportunities for people with both traditional and new technology skills. The survey indicates that the e-commerce, insurance and logistics will be some of the key sectors driving digital transformation.
Following this year’s trend, the IT job market will remain active in 2018 as digital transformation continues to be a hot topic, with all sectors investing heavily in modernising their customer-facing e-channels. While robust activity is predicted in various industry verticals this year - fast moving consumer goods (FMCG), retail, luxury and healthcare - for sales and marketing professionals proficient in specialised areas such as commercial excellence, digital marketing and e-commerce and professionals in general who are up-to-date with digital trends, and have strong analytical skills.
Whilst inflation rates in Singapore are likely to remain flat and in general, minimal salary increments are anticipated in 2018, Robert Walters said. In Singapore, increments for 2018 should be between 5% and 15%, the company forecasts. The demand remains for candidates with skills in digital marketing and cyber security in particular. These candidates can expect to see increments in their annual salary reviews, especially those with local market knowledge.
Survey highlights for 2018 include:
● In the IT sector, there will be a high demand for business/consumer-facing professionals who have deep learning and machine learning skills. "Most companies want to make data-driven decisions," said Nandita Nandakumar, Senior Manager, Technology/Commerce, Robert Walters. "The Lazadas of the world are using data. They need professionals who can churn this."
Nandakumar added that the talent in these fields are not as high-quality in Singapore as in the US, where candidates have been involved in more advanced projects. "The company is interested in candidates coming from the US as they might have had a more mature market experience," she said.
● User experience/user interface (UX/UI) professionals, specifically front-end developers who have a strong instinct for design, were in demand in 2017 and will continue to be be in demand in 2018. This is because attractive interfaces remain a differentiating factor in user acquisition. Companies are also looking for cloud architects.
● As regulatory requirements remain a core issue in the banking sector and increased digitalisation in companies looking to secure their systems, tech professionals with cybersecurity skills will also continue to be in demand, as they were in 2017. However, with a currently limited talent pool, hiring managers will find it a challenge finding techno-commercial digital professionals, local developers and solution architects.
● Key industries that will drive digital transformation in 2018:
● Banking and financial services sectors will see demand in these qualities for IT professionals:
While this year saw employers hiring more mid-level professionals for interim positions, particularly for projects that require niche skill sets, there was also a rise in short-term contract legal roles, triggered by a limited talent pool and tighter budget constraints. This trend is likely to continue in 2018 as employers recognise the value contractors can bring to a business, particularly for legal professionals in the fintech, healthcare and technology sectors.
Robert Walters operates in Singapore, Malaysia, Indonesia, Thailand, Vietnam and, since last year, the Philippines. It has had a presence in Southeast Asia for nearly 20 years. While some recruitment consultancies have consultants which work with one client and cover hiring for all disciplines, Robert Walters consultants focus on one core discipline.
Explore:
Request a copy of the Salary Survey
Read the WorkSmart Asia blog posts on the 2017 Salary Survey and the launch of the Balik Kampung campaign
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| Digital initiatives. |
Despite the economic slowdown last year, Singapore remained an attractive proposition for companies looking to establish local and regional hubs. In line with the government’s drive to strengthen technology infrastructure and build a Smart Nation, businesses are expected to continue to improve their digital processes, generating permanent and temporary opportunities for people with both traditional and new technology skills. The survey indicates that the e-commerce, insurance and logistics will be some of the key sectors driving digital transformation.
Following this year’s trend, the IT job market will remain active in 2018 as digital transformation continues to be a hot topic, with all sectors investing heavily in modernising their customer-facing e-channels. While robust activity is predicted in various industry verticals this year - fast moving consumer goods (FMCG), retail, luxury and healthcare - for sales and marketing professionals proficient in specialised areas such as commercial excellence, digital marketing and e-commerce and professionals in general who are up-to-date with digital trends, and have strong analytical skills.
Whilst inflation rates in Singapore are likely to remain flat and in general, minimal salary increments are anticipated in 2018, Robert Walters said. In Singapore, increments for 2018 should be between 5% and 15%, the company forecasts. The demand remains for candidates with skills in digital marketing and cyber security in particular. These candidates can expect to see increments in their annual salary reviews, especially those with local market knowledge.
Survey highlights for 2018 include:
● In the IT sector, there will be a high demand for business/consumer-facing professionals who have deep learning and machine learning skills. "Most companies want to make data-driven decisions," said Nandita Nandakumar, Senior Manager, Technology/Commerce, Robert Walters. "The Lazadas of the world are using data. They need professionals who can churn this."
Nandakumar added that the talent in these fields are not as high-quality in Singapore as in the US, where candidates have been involved in more advanced projects. "The company is interested in candidates coming from the US as they might have had a more mature market experience," she said.
● User experience/user interface (UX/UI) professionals, specifically front-end developers who have a strong instinct for design, were in demand in 2017 and will continue to be be in demand in 2018. This is because attractive interfaces remain a differentiating factor in user acquisition. Companies are also looking for cloud architects.
● As regulatory requirements remain a core issue in the banking sector and increased digitalisation in companies looking to secure their systems, tech professionals with cybersecurity skills will also continue to be in demand, as they were in 2017. However, with a currently limited talent pool, hiring managers will find it a challenge finding techno-commercial digital professionals, local developers and solution architects.
"Cybersecurity is becoming very hot in the
market – we need malware analysts, penetration testers, identity and access
management people," elaborated Nandakumar. She noted that with the number of security operations centres (SOCs) in Singapore SOC
managers are also in high demand.
On the banking and financial services areas, government compliance specialists are needed, and the supply is coming mainly from traditional audit specialists moving into technology. "You need technology security to be in place as part of regulatory compliance," she said.
● Key industries that will drive digital transformation in 2018:
- E-commerce
- Insurance
- Logistics
Despite the current focus on digital transformation and the need for developers, analysts, and data scientists to power the change, traditional infrastructure is still required, driving demand for jobs such as hardware engineers, Nandakumar said. "Even with cloud enterprise resource planning (ERP) and customer relationship management (CRM) skills haven't gone out of fashion," she said.
- Workspace transformation
- Cloud infrastructure and virtualisation
- Project and programme management
- Business analytics with strong regulatory understanding
The 2018 Salary Survey indicates that contract work is a viable option to overcome the skills gaps required across various sectors, with candidates becoming more open to contracting opportunities to broaden their corporate exposure.
While this year saw employers hiring more mid-level professionals for interim positions, particularly for projects that require niche skill sets, there was also a rise in short-term contract legal roles, triggered by a limited talent pool and tighter budget constraints. This trend is likely to continue in 2018 as employers recognise the value contractors can bring to a business, particularly for legal professionals in the fintech, healthcare and technology sectors.
Robert Walters operates in Singapore, Malaysia, Indonesia, Thailand, Vietnam and, since last year, the Philippines. It has had a presence in Southeast Asia for nearly 20 years. While some recruitment consultancies have consultants which work with one client and cover hiring for all disciplines, Robert Walters consultants focus on one core discipline.
Explore:
Request a copy of the Salary Survey
Read the WorkSmart Asia blog posts on the 2017 Salary Survey and the launch of the Balik Kampung campaign
*Compiled by Robert Walters' dedicated research division, the Salary Survey is based on an analysis of placements made across its network of offices and specialist disciplines during the course of 2017. Now in its 19th year, the survey is used by employers, HR managers and employees for benchmarking salary levels within their industry.
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