Singaporeans will only return home if the price is right

Singaporeans currently working overseas are interested in returning home, but only if it’s on their salary terms. That’s one of the findings from the latest Hays Quarterly Report, covering the October to December quarter.

The Report notes that many of the Singaporeans who are currently working overseas are keen to move back to the APAC region as it’s seen as a market with strong growth potential. But they want to ensure they can maintain their current salary level before they will consider returning home. They also want to make sure they will be offered the same career path options that are available overseas.

Yet these candidates need to remain realistic when it comes to salary expectations, since budgets are tight. We advise such candidates to examine the overall benefits of a local role versus an international role.

The Report also found work/life balance and better career opportunities rate high on the list of what candidates are looking for when moving jobs.

Meanwhile, employers’ expectations have been raised and they are taking extra steps to find the right fit. This includes conducting more interviews and technical tests in order to ensure they hire the very best of the available talent. This has lengthened the recruitment process considerably.

The Hays Quarterly Report also highlights skills in demand. In most demand in the accountancy and finance sector are Internal Auditors, IT Auditors, Product Control specialists, Regulatory Reporting candidates, Cost Accountants and Project Accountants.

Within banking we are seeing high demand for candidates in Operational Risk, Compliance, Credit Risk, Settlements and Reconciliations. The finance technology sector needs technical specialists, Business Analysts (IT Risk), Vendor Lead Analysts, Project Managers, Application Developers, Infrastructure Leaders, front office technical candidates and Office Developers with good FX skills.

Within construction employers are recruiting C&S Design Engineers, Senior Quantity Surveyors and Estimators, Analytical Estimators, Quantity Surveyors and Construction Managers with experience in the full project lifecycle. Within engineering we are seeing high demand for PE Registered Engineers, Senior C&S Engineers, Senior M&E Engineers, Resident Engineers and Geotechnical Engineers.

Skills are also in short supply in the contact centres, human resources, information technology, legal, life sciences, oil & gas, property, sales & marketing and supply chain sectors.

For full details of these skills in demand, or to view the Hays Quarterly Report, please visit www.hays.com.sg/report