Here is a summary of what we predict the talent trends will be for Singapore this year:
A warm welcome to TalentStork’s Salary Guide 2021 for Singapore – a compilation of the salary ranges across various industries in Singapore. Our guide is based on the analysis of permanent placements made across Singapore in 2020.
We do this to support our HR partners as well as candidates under our charge to understand the compensation developments in their own segments a little bit better. Salary ranges relate to base salaries are approximate guides only, they are the best guess estimation based on the data that we have accumulated of our candidate pool as well as from government data and surveys that we have done early this year.
For this edition, we will be providing our guidance on four segments aligning with our own function and industry focus.
Sectors included are:
- Logistics & Supply Chain
- IT / Technology
- Corporate & Commercial Services
- Singapore may experience a possible 4 – 6% of positive growth in 2021, with an expected 2.7% increase in salary on average.
- Supply chain industry will continue to grow with logistics technology development with digitalization, but talent crunch in tech role could be a challenge that slowing down its growth.
- E-commerce market in Singapore is attractive for companies around the world to locate their HQ here due to the geographical location and political stability. However, limits remained such that market size is small in Singapore.
- Niche technological skills such as data analytics, machine learning, front-end, and back-end development are highly sought after, but talent shortage is still an issue in Singapore. Moreover, with the covid situation, offshore talents could not be attained at the moment.
- Employers’ branding became an important factor in attracting tech talents to join the company.
- HR technologies such as employee engagement software surface in the market to manage and engage remote teams.
- Open finance is a new concept to be discussed in 2021, which allows businesses to offer more enhanced experiences other than conventional financial services. Fintech talents specialize in API surge in popularity in financial institutions.
- Online marketing & digital marketing trends boom as consumer behaviors shifted, companies has to refine their marketing strategies to remain competitive especially traditional marketing would subsequently be outdated.
Register below to access our 2021 Singapore Salary Guide and read more about our hindsight and foresight of the Singapore Labour market via email.