Comparison Tool

Comparison Tool

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Singapore

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Overall score

Score by Indicator

4.3
in 2016 4.7
0 2.5 5 7.5 10

Key drivers

Labour market participation

The labour market participation rate is forecast to rise by less in 2017 compared to the historical average increase for Singapore.

Talent mismatch

A fall in the rate of unfilled vacancies and falling structural employment suggests talent mismatch issues are declining.

Wage pressure in high-skill industries

The wage gap between high- and lower-skilled industries narrowed, but remains high relative to past levels.

COMPARISON TOOL

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COUNTRY OVERVIEW

Ground View

Lynne Roeder, Managing Director, Hays Singapore

Singapore is well-positioned to be known as a smart nation, which is what the Economic Development Board wants to achieve. This will present Singapore as a digitally-networked environment with a particular focus on five key fields: transport, household and environment, productivity, healthcare and ageing, and the public services sector. Singapore’s recruitment market continues to face disruption from current market volatility and the economic uncertainty that is fuelling it. The mounting challenge for businesses in the country will be to ensure that their talent strategy is adapted accordingly to ensure they can attract, retain and engage talent.

Lynne Roeder, Managing Director, Hays Singapore

Country Profile

Historically, Singapore’s flexible labour market has kept labour market pressures to a minimum.

However, according to a UN survey about migration policy published in 2016, the Singaporean government is not seeking to attract as many skilled foreign workers as in previous years, which could lead to further skills shortages for sectors that rely heavily on importing people. Over the longer term, labour shortages may increasingly become worse, as the nation-state’s working age population begins to decline within the next decade.

Key skills in demand

  • Cyber security experts
  • Change & transformation management experts
  • Analysts and AVP level AML/KYC experts
  • Accountants (commercially minded)
  • Internal auditors (technology background)

News and Press Materials

Lynne Roeder, Managing Director, Hays Singapore