Tech Recruitment in Singapore in 2021 – Key Insights
Technology is a huge part of Singapore. In fact, back in 2015, the local employment sector for technology expanded by around 17,000 roles. Last year, statistics from the Ministry of Manpower revealed that roughly 190,200 work in tech. And it’s projected to continue increasing in the next few years thanks to the increasing demand for tech in various places in the world.
While the COVID-19 pandemic has indeed taken a toll on many industries, it has welcomed a whole new era for technology. It has highlighted the need for digital infrastructure, digitised processes, cybersecurity, digital payments, and more. Additionally, with the increasing preference for work from home arrangements, companies continuously look for tech innovations to accommodate the changes and maintain smooth operations.
Coronavirus and the Tech Boom in SG
The latest changes in Singapore’s tech landscape is enough proof of how COVID-19 pushed for faster digitisation. One of the most significant driving forces of these massive changes is the government’s robust support. Notably, Singapore has been actively building their digital infrastructure long before the pandemic hit. In fact, the government offers subsidies and incentives to organisations to help fulfill the country’s digital roadmap.
Even amidst a pandemic, the government projects the SG tech workforce to add about 60,000 professionals in the coming three years. Unfortunately, the country produces roughly about 2800 tech or info-communication graduates per year. It’s nearly not enough to match the massive demand of technology companies. With sectors like fintech and eCommerce growing exponentially, companies will need to hire more people to join their team.
Need for companies to improve recruitment pipeline
With the limited pool of tech talent in Singapore, companies need to implement a strategic recruitment pipeline. For example, HR teams and recruiters need to figure out the most ideal duration of a screening and application process. This is a critical factor, especially today when top-notch talents like Senior DevOps engineer, and software developers are highly sought after by competing companies.
So far, here are some of the most in-demand tech roles in Singapore:
- Project Management or Business Analysts
- Cybersecurity Professionals
- Mobile Developers
- App Developers
- Data Analysts or Scientists
- Cloud Engineers
- UI/UX Designers
- Network Engineers
- Systems Engineers
There’s also the matter of offering an attractive salary and benefits package that could increase a company’s chances of getting more top-tier talents.
Overcoming talent crunch in SG’s competitive tech market
Offering competitive packages and streamlining recruitment processes are just two of the many things tech firms do to get the best talents. Besides these two, companies also actively use tactics, such as maximising their internship programs and offering a plethora of learning opportunities, especially to young and wide-eyed talents.
Another useful tactic that companies use nowadays is tapping into foreign talents. Thanks to the rising popularity of the work from home set-up, tech firms have begun opening their doors to more remote workers. This is especially helpful with the tightened labour policies concerning foreign workers in Singapore.
Lastly, some companies invest in upskilling their current workforce and providing them with the necessary tools and training. This could serve as an alternative, especially to those who aren’t keen on bringing in new talents due to budget constraints.
Return of investments in the near future
Even the tech sector suffered a major blow last 2020 when fundings significantly decreased for various tech startups. This resulted in significant disruption in the startup ecosystem of the country. However, notably, the investments are expected to continue coming in again as the world eases into the new normal. Startups of tech firms that focus on developing innovative solutions for governments, businesses, and end-consumers will most likely well in the next few years.
Some of the specific tech sectors that would most probably get more funding include eCommerce, digital payments, fintech solutions, and on-demand digital health.
It would be interesting to see how the tech market changes and adaptations will unfold as we welcome another year. We might see new tech roles that may be needed for emerging markets like mobile payments, telehealth services, and AI-enabled digital concierge for tourism.
Find top-notch tech talents in Singapore with Datasearch Consulting
With the increasing competition in the tech market, working with a specialised recruiter becomes all the more important. If you need top-tier technology talents for your organisation, our team at Datasearch Consulting can lend you a hand. With our extensive network of professionals, we can help you find the right people you need to build your team. We can help you fill vacancies in your company so you can begin your projects for 2021.
Contact us today for more information about our recruitment services. We’d be happy to walk you through the options we offer for your tech recruitment needs. You can also stay in the loop with the latest insights and news on the technology sector by subscribing to our monthly newsletter.
Gary Dean is a Director at Datasearch Consulting, a leading executive recruitment firm specialising in the Financial Technology & Market Data sectors.
You can download their FREE comprehensive guide on “The Complete Guide to Hiring Fintech & Data Talent – 5 Proven Steps to Secure the Best Candidates Possible” here. Alternatively you can view the Datasearch Consulting website or contact them directly on firstname.lastname@example.org for a more detailed discussion.
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