Online hiring in Singapore's finance sector highest in Southeast Asia

It recorded an 11% growth in June.

Whilst banking and financial services sector displayed a cautious hiring outlook, activity growth in Singapore exhibited optimistic sentiment in terms of online hiring.

According to the latest Monster Employment Index (MEI), Singapore recorded the highest online hiring activity in the Banking and Financial Services Industry in Southeast Asia, at 11% year-on-year in June. This is up 6% from the 5% recorded between May 2016 and 2017.

Neighbouring countries the Philippines witnessed a growth of 8% year-on-year, whilst Malaysia reported a 1% growth, which is a significant 11% improvement from -10% recorded between May 2016 and 2017.

Meanwhile, domestic demand for finance and accounts roles remained muted in June, with Singapore recording a 2% decline in the said month.

Monster.com APAC and Middle East managing director Sanjay Modi said despite varying market conditions, this sector is showing some signs of recovery with tech talent calling the shots in the region.

"Disruption in financial tech will continue to create demand for new roles which did not exist previously, such as UX/UI designers, digital data analysts and positions in data theft & protection,” Modi noted.

He added that with companies cutting overall staff costs by leveraging the comparative advantages of different markets, finding top talent in niche roles will continue to remain a challenge, especially as employers are hard-pressed to identify more local talent with less time to fill.

"This also calls for employers to invest more in learning and development initiatives that will further enable an innovative and digital mindset among employees," he stressed.