Singapore’s HR professionals to see fatter paychecks in 2015

Up 5-10% compared to the previous year.

Employers are seeing greater worth in their HR professionals, realizing that they need to invest in a strong HR strategy for better business.

Recent findings by ZW HR Consulting, one of Asia's headhunting and HR consulting firms, discovered some interesting changes in the salary patterns within the diverse field of HR.

According to ZW HR, due in part to the "value added" services that HR professionals bring to businesses, HR salaries have seen an upward swing as a direct result of the short to long term cost savings by having more efficient and streamlined processes and/or HR related functions internally.

Mervin Chui, Managing Director, ZW HR Consulting said, "2015 is likely to turn out to be a reasonably good year for HR Professionals. The average salary bands for HR Professionals are up 5 % to10% for 2014/15 as compared to 2013/14 figures. The potential for HR to influence and drive business strategy has never been stronger as employers realize they need to invest in strong HR professionals."

Human Resources is a lucrative profession that increasingly attracts top professionals in Singapore and it has seen an upward growth trend, which is expected to continue, as more companies continue to streamline their people management processes. This includes an increasing number of smaller companies that are adding internal Human Resources Departments for managing their people professionally. As Singapore is a regional hub for many multinational companies (MNCs ), the prevalent salaries in this region have become benchmarks for Asia Pacific professionals.

Here’s more from ZW HR Consulting:

"Against the backdrop of a talent scarcity across Singapore, experienced skilled professionals can expect to see salary hikes. Employers will have to consider hiking up salaries to keep pace with inflation, to attract the right talent and to retain their critical workforce. This guide will help organizations and talented professionals gain a better understanding of the current state of wage pressures, through the provision of an accurate and transparent contextual comparison for the region ," said Chui.

Sunil Dutta, Director for Human Resources Practice at ZW HR Consulting said, "We are seeing a high demand for HR related jobs in various sectors as MNCs and large local firms continue to aggressively expand their presence across the region. This has created new opportunities for more robust and sturdy HR, Compensation & Benefits and Learning & Development professionals with specific industry experience to manage long-term strategies. Overall, there has been an increase in the number of HR roles coming to market at all levels and across various disciplines."