SG’s marketing sector to experience highest attrition in 2022, e-commerce and AI among coveted skills
Singapore’s sales and marketing industry is expected to experience the highest attrition (83%) in 2022, followed by financial services (76%) and human resources (71%). According to Robert Walters Singapore, the difficulty of hiring talent for the sales and marketing industry will be very high.
Nonetheless, the most demanded professions in this industry are e-commerce, digital marketing, and business development.
As companies try to offset stable growth in 2020, the right business talent will be in demand. The sustained interest of consumers in buying and consuming online media will lead to more hires for positions in digital and e-commerce, said Robert Walters. Companies should focus more on employer brand and candidate experience, and soft skills such as agility and resilience are in demand.
Here is the list of skills sought for permanent positions:
1. Consumer sectors: e-commerce, digital marketing, performance marketing, CRM managers, data intelligence and AI;
2. Healthcare: medical and regulatory affairs, market access and patient access experience;
3. B2B and industrial: sales and business development roles in the fields of renewable energies, energy and biofuels, and digital marketing;
4. Financial and Professional Services: Professionals able to combine traditional and digital marketing skills.
When it comes to contractual roles, experience in hybrid event management, business development and sales for emerging industries is in high demand.
Salaries will largely stay the same next year with a slight increase expected for contract positions. The exceptions would be digital and e-commerce roles, where sectors such as healthcare, fintech, and e-commerce might see a slight pay rise, while roles with niche skills (digital, analytics, sustainability, sales). ) can expect much higher increases for permanent roles.
That said, Robert Walters predicts that 76% of companies give salary increases for sales and marketing, while 45% of professionals expect a salary increase next year. In addition, 83% of sales and marketing professionals are looking for a new job and 63% are confident about employment opportunities. Increased attention will also be given to diversity, equity and inclusion in the sales and marketing industry. Factors such as flexible working, WFH, well-being and learning, as well as development opportunities will also play a key role in recruiting and retaining talent.
People most confident about employment prospects in technology and transformation
On the other hand, the three main sectors where professionals are most confident about the job opportunities available next year are trade finance (83%), technology and processing (79%), and chain procurement and purchasing (77%). In particular, the technology and transformation sector will see data scientists and engineers, cybersecurity specialists and developers (front-end, back-end and full stack) as the most sought-after professions.
Tech professionals with highly specialized technical skills, especially in emerging areas such as AI and machine learning, and other areas such as data, cybersecurity, digital and e-commerce will experience a strong demand.
Professionals with skills in the areas of governance, compliance and risk, particularly in the fight against financial crime, will be in demand in 2022. Beyond technical skills, professionals who are resilient, adaptable, flexible and forward – Guardians capable of managing teams and the corporate culture from a distance will be sought. -after for their soft skills. Salaries in areas such as technology are expected to increase dramatically due to the talent shortage. In other areas, salary bonuses of 10 to 15% are expected for professionals who change jobs.
Competitive salary increases and innovative benefits such as connection bonuses will play an important role in attracting and retaining talent. Beyond pay and benefits, tech professionals value inspiring colleagues and culture as well as flexible working, said Robert Walters. Most companies (85%) give salary increases in the tech and processing sector, while 56% of professionals plan a salary increase in 2022. At the same time, the majority of professionals (62% ) are looking for a new job, and 79% are confident about job opportunities in the technology and processing sector.
Overall, hiring trends in Singapore for the New Year will focus on people and technology. Robert Walters said more companies should hire help finding candidates, while business and technology talent will continue to be in high demand in the commerce and financial services industries.
While Singapore’s hiring market in 2020 was largely conservative, 2021 saw rapid change as companies ramped up operations and resumed hiring plans for growth. As a result, job flows have increased in all divisions, and for permanent and contract positions.
Southeast Asia hiring outlook for 2022
At the same time, regionally, most Southeast Asian economies, except Vietnam and Thailand, rebounded quickly in the first half of the year. The increase in COVID-19 variants has affected manufacturing, but digital and technology have seen the biggest increase in hiring, accelerated by digital transformation initiatives by companies across industries.
By 2022, the hiring market is expected to slow slightly after a turbulent boom. The demand for local talent increased as expats returned home permanently, and global mobility was significantly reduced in 2021 due to limitations in travel, visas and work permits. This has contributed to the increase in attrition rates as employees change jobs. According to Robert Walters, this is a recurring trend observed among countries that have emerged from containment.
In 2022, there will be a growing shortage of professionals with the skills to support businesses looking to expand in areas such as technology, automation and analytics. The most in-demand professionals in the region are those in financial services, with skills in digital transformation, customer engagement, virtual banking and front office roles.
Those with specific skills in 5G deployments, data analytics, and blockchain, as well as those capable of supporting edtech, healthcare technologies, and automation in manufacturing will also be in high demand. .
With a high level (98%) of survey respondents willing to acquire and retrain new skills to remain employable, applicants are advised to turn to relevant courses such as data analytics.
Photo courtesy: 123RF
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