While many things are on the rise in Singapore, the need for IT Professionals is ever growing. Many companies have brought in businesses based in IT and Commerce to Singapore, and are realizing that the need for people with the particular skills that are required to fill the positions is in incredibly high demand. The average salary in Singapore for these knowledgeable professionals has even been risen by 10 to 15% since last year in an attempt to attract the talent needed for these positions. While these companies scramble to grab the best and brightest, other concerns are coming to the surface.
The demand for knowledgeable professional in the business and technical fields are on the rise while some of these vacant positions are causing salary increases to encourage a higher bracket of talent. Some of the greatest areas that are in need of filling are located in mobile applications, business intelligence, data analysis, and cloud computing. Other highly demanded areas also include application developers, cyber security, and other technical professionals to ease the minds of customers while regulations are being increased for customer safety. It is becoming increasingly obvious to companies that are seeking out these talented individuals that there is a high demand for help in the availability of the technical and business talent in the country.
What is being done to Encourage Talent?
Many companies are taking drastic measures to attempt to attract the limited talent that is available towards their businesses to achieve the goal of filling positions with what is available. Things such as raising the salary that these professionals will receive for providing their talents, and even improving regulations and providing more balance to employees work to home ratio is causing a stir. While Singapore is the most business friendly country in the world, the lack of professionals to fill the necessary positions that are available, and the ever increasing cost of living for locals is causing companies to really have to pull out the stops to attract what they need.
While the IT industry has always been known for its competitive nature while recruiting talent to fill positions, Singapore is truly hurting for IT professionals. This lack of talent for this particular role has led to the increase in salary provided to employees, and even the changes in regulations to keep employees happy which encourages them to stay. However even though the recruitment of IT professionals has always been competitive, it is strange to see that job advertising for Singapore overall has decreased by 3% over the years. This could be due to the number of available jobs or the lack of talent necessary to fill positions. However one of the largest draws that Singapore is suffering from is the lack of mid to senior level talent to fill the positions of seasoned positions which has begun to put a damper on many of the companies who are now seeking to hire outside the country if necessary.