In the rapidly changing economic landscape, Singapore stands resilient. Escaping a technical recession in the second quarter of 2023, the nation displayed a growth of 0.7% amidst higher interest rates and inflationary pressures. But it's not just the macroeconomic trends at play. The labor dynamics are in flux, with varied employment patterns across sectors. While some industries are pulling back on hiring, others are charging forward, creating a unique blend of opportunities and challenges.
To shed light on the nuances of Singapore's job market, our report - "Salary Guide Across Industries in Singapore H2 2023" delves deep into the following sectors:
- Information & Technology
- Sales & Marketing
- Supply Chain & Procurement
- Financial Services
- Finance & Accounting
- Human Resources, Administration & Business Support
- Life Science & Healthcare
Digital transformations have placed Singapore at a pivotal juncture. The growing demand for digital talent is stark, with predictions suggesting a need for an extra 1.2 million digital professionals by 2025. To address this, initiatives are underway to lure overseas talent to bridge this skill gap.
The burgeoning digital landscape also reflects in the compensation packages. Singapore's median monthly income touched SGD5,070 in 2022, marking an impressive 8.3% jump - the most significant surge in a decade. This uptick underscores the importance for employers to remain updated on compensation trends to attract and retain top talent.
Our report offers a goldmine of information on the evolving compensation and benefits landscape in Singapore. Tailored for both employers keen on securing the best talent and job seekers wanting to gauge market worth, this report is a must-have. Get a competitive edge in Singapore's dynamic employment market by downloading our report now.
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