SINGAPORE: Even though the tech sector has slowed down since the pandemic’s rapid growth, the need for tech specialists is still very strong, Hays said in its latest report.
The Inside Story of Technology, based on insights from nearly 9,000 employers and professionals, revealed that 36% of employees are looking for promotions or changes in their current roles, 40% are considering moving to new companies, and 44% are open to exploring new opportunities.
According to the report, Singapore candidates are facing fewer job opportunities as tech companies are looking to expand into more cost-efficient markets. This led many professionals to prioritise job stability, with tempered expectations for career and salary growth.
John Borneman, Regional Director at Hays Singapore, explained, “While there is a sense that companies are reassessing hiring budgets due to economic concerns, investors worldwide are keen to leverage Singapore’s advanced cloud infrastructure. The need for skilled data engineers, network specialists and cybersecurity experts is expected to increase as businesses shore up their workforces to meet growing expectations from the global community.”
To address these shifts, he advised tech professionals to focus on upskilling and exploring new roles. Business leaders, on the other hand, should adjust their recruitment and workforce strategies to stay aligned with the changing landscape.
He noted that as the job market becomes more competitive, professionals should focus on keeping their skills current. Gaining new certifications and learning the latest technologies will make them more attractive to employers.
He also advised exploring “emerging roles and specialisms” within their industry, as these moves can offer stability and help them build a wider skill set. Networking with peers and seeking advice from mentors can also reveal new opportunities that fit their skills and interests.
For business leaders, adapting to the changing landscape involves several key steps.
Planning for the future by developing a strategy that looks three to five years ahead is essential. This means identifying the skills needed to address future challenges and aligning recruitment strategies with long-term goals.
Companies should also reassess roles to improve efficiency, focusing on key skills and defining essential positions.
To meet the growing demand for specialised skills, businesses should engage passive candidates, those not actively job-hunting. Recruitment specialists can assist in connecting these candidates with suitable roles.
In addition, investing in current employees through training programs and career development can help them grow into the roles needed for future success. /TISG
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