Singapore is rapidly building a reputation in Southeast Asia as a regional tech hub, with tech and digital jobs in great demand across a myriad of sectors. However, the company is also facing a technical talent shortage, according to recruitment and talent platform Grit’s Singapore Salary Report & Market Outlook for 2022/2023.
The top five roles employers are looking for are data analytics (57%), digital marketing (57%), big data (52%), strategy and operations (43%) and digital strategy (43%).
The tech skills most sought after by employers are cybersecurity (57%), data analytics (57%), AI/machine learning (52%), digital marketing (43%) and Agile/Scrum (43%). .
Big data analytics is far superior to any other technology employers believe companies should adopt, with nearly half (49%) saying so. This is followed by IoT and connected devices (36%), e-commerce and digital commerce (35%), AI (33%) and cloud computing (31%).
The COVID-19 pandemic has led many local businesses across several sectors across Singapore to undertake significant digital transformations, largely due to a severe lack of mobility and restrictions on face-to-face transactions. It includes the entire marketing industry, connecting the gaps between customers, content, data, and technology to deliver better customer experiences.
They have been forced to change their ways and rely on digital marketing to promote themselves. As such, they are now poised to continue offering consumers a mix of online and offline services in terms of operations, business models, or work arrangements.
With all this change and transformation, a new generation of marketers has come to the fore. Marketers need to be more creative, analytical, technical, fluid and collaborative. Marketing is one of the most diverse fields with countless opportunities.
According to Grit’s research, salaries for Marketing Chiefs/Marketing Directors ranged from S$7,000 to S$22,000 in the following year, senior trade/consumer marketing professionals at S$19,000 and social media marketing senior professionals at S$19,000. You can make up for it. 12,500 Singapore dollars.
The report lists Data Analytics & Analysis, Project Management, Research, SEO/SEM, Social Media, User Lifecycle, User Experience, MarTech, CMS, Data Collection & Visualization as the most in-demand skills in the marketing industry. increase.
While many uncertainties remain globally, the Singapore economy is not expected to enter recession or stagflation. According to Grit, it bodes well for Singapore’s labor market, which is expected to see positive developments (in terms of unemployment rate, number of cuts, and salary adjustments), and he expects the ICT sector to become more focused in the coming years. increase.
Alvin Tan, Minister of Trade and State, said: The industry responded in July as the best way to combat inflation.
The country’s GDP growth forecast remains at 3% to 5%, according to the Ministry of Trade and Industry (MTI), and growth could approach the bottom half of the forecast range. Overall inflation for 2022 is now expected to reach 5%, up from 3.6% reported in the previous Monetary Authority of Singapore (MAS) survey.
Behind these figures are reports that Singaporean employees can expect bigger salary adjustments than usual, with an increase of up to 3.8% on average. This is partly because employers are prepared to raise workers’ salaries as the economic outlook improves, partly to offset soaring inflation and labor shortages.
Singapore’s commitment to technology and the digital economy is underpinned by its ICT sector. With a growth rate of 12.2%, he far outpaces other sectors, making him the third fastest growing industry in 2021. Moreover, it contributed S$28.4 billion to the economy during the same period, accounting for his 5.6% of GDP.
Crypto, Blockchain, Web3
Web3, blockchain and cryptocurrencies all captured the world’s attention as they set the stage for innovative business models and value transfer. Starting with finance, expanding to healthcare, supply chains, gaming, IoT and digital identities. This is why blockchain and crypto are so hot right now, with more companies moving towards a sustainable he Web3 ecosystem.
The fast-growing industry offers a number of marketing and technical positions, including CMO/Marketing Officer and Chief Product Officer/Head of Product Set, according to Grit’s report, with up to will be 35,000 SGD. The CTO/Technical Head has the highest salary and from S$25,000 he can earn in the range of S$60,000.
Clearly boosted by the shift to remote work caused by the pandemic, it is also placing greater value on the ability to work remotely as Singaporean businesses consider expanding “remote work” as an option. It’s not just our employees who are on board.
As such, they are increasingly keen to hire international talent, with a 227% increase in hiring remote employees and contractors in Asia Pacific. This also notes that start-ups and the tech industry are most eager to recruit international talent, according to compliance and payroll solutions provider Deel’s State of Global Hiring Report.
The top five roles that see growth are virtual assistants (24%), software engineers (22%), software developers (9%), community managers (8%), and content writers (7%).
Especially given the current talent shortage in Singapore, companies are emerging that are building fully remote teams, implementing staggered work schedules in offices or 100% WFH policies, and being more flexible about where to source the best talent. increase.
At the height of the 2020 pandemic, nearly half (49%) of Singapore employees were working remotely, with the ICT sector accounting for the largest proportion of employees working from home (77.6%). Singapore consistently ranks as one of the best places to work remotely, ranking top in Asia.
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