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REED Launches Salary Guide and Market Insight 2015

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-Economic strength and stable growth

SINGAPORE /PRNewswire/ —

  • 75% employees have enjoyed a pay increase in the past 12 months
  • 2 in 3 employees are seeking a new role
  • Job satisfaction / career development is the most important aspect of work

For HR professionals, Singapore and the APAC region represent a fast-moving employment market. The REED 2015 Salary Survey and Market Insight report reveals many positive trends but also highlights a number of challenges faced by companies and organisations seeking to recruit and retain quality personnel.

The Drive for Productivity

Throughout 2014, economic growth in Singapore remained strong, fuelling the jobs market with opportunities for talented and experienced candidates. Businesses have been looking to increase productivity, complemented by the use of technology and automation, to help drive growth. The quest for improved productivity is leading to the transformation of jobs, evidenced with of a blurring of functions and the advent of hybrid-type roles.

A Candidate-led Market

Like all major economic centres experiencing growth, Singapore suffers from a shortage of high-calibre candidates across many sectors.

  • 64% of employees claim to be currently seeking or considering seeking a new role
  • 51% of employees have changed employment between four and six times
  • 36% move roles to advance careers
  • 69% use recruitment consultants to secure employment

Employers will have to prioritise training and development programmes to ensure they have a continuing talent supply to meet the changing demands of the future. This needs to be supported by creative recruitment and retention strategies, so that top talent will be attracted and secured for the long term.

Looking to the Future

A number of key sectors are expected to drive growth in the Singapore labour market in 2015. The banking sector will see activity in the private banking, wealth management and corporate banking areas, alongside risk and compliance-based roles. Further expansion is anticipated in the insurance sector, as well as increased demand for legal professionals, especially those with compliance, regulatory and product experience. Following a period of consolidation, technology professionals will find opportunities start to increase once more. These are expected to be prevalent for candidates with cloud visualisation, web development and digital technology specialisms.

About the Guide

REED has combined considerable experience of the Singapore jobs market with independent research to compile the REED Salary Guide and Market Insight 2015. Research was carried out using an online panel of 749 employees and employers working in a variety of industry sectors and job levels across the Asia Pacific region.

The REED Salary Guide was released simultaneously in 14 countries throughout Asia, Australia, Europe and theMiddle East. It contains key insight and analysis of the recruitment market as well as up-to-date salary information across a variety of industry specialisms.

The REED 2015 Salary and Market Insight report can be obtained by visiting www.reedglobal.com.sg/salary-guides

About REED

REED is one of the leading, privately owned recruitment businesses in the world, and exists as a specialist provider of permanent, temporary, contract and outsourced recruitment solutions, IT and HR consulting.

Founded in 1960, REED currently employs over 3,000 people in 180 locations across Asia-Pacific, Europe and the Middle East and is rightly considered a global leader in the middle to senior level recruitment.

For further information please contact:

REED,
4 Battery Road,
Bank of China Building #24-01,
Singapore 049908
T: +65-6602-9100
E: info.singapore@reedglobal.com
EA Licence No.: 08C3489

Source: REED

Written by asiafreshnews

February 2, 2015 at 11:06 am

Posted in Uncategorized

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