The first quarter of 2011 will be an active one for recruitment, with a particular focus on securing permanent staff in response to improved market conditions and confidence, according to recruiting experts Hays.
In its Hays Quarterly Report for January to March 2011, the recruiter found that employers are creating new roles to bolster their teams for the year ahead.
The report reveals that organisations will use temporary assignments this quarter, particularly at the support level, for projects and to cover workloads while a permanent employee is sourced.
Hays notes that there are also more temporary roles coming up with a view to becoming permanent and that such long-term opportunities for temporary candidates have not existed since before the financial crisis.
Candidate levels will rise in the first quarter of 2011, particularly now that bonuses have been paid.
As well as the traditional mentality of seeking a new role in the New Year, more people are now far more confident in the market’s ability to present them with a solid career-advancing opportunity.
The demand for certain specialist skills — specifically in banking and finance, IT, and oil and gas — will not be met. The shortage of these skills will remain a challenge for employers.
According to the January to March Hays Quarterly Report, the following skills are in demand:
Accountancy & Finance
Candidates with strong experience in international financial reporting standards (IFRS) and accounting policy, as well as those with Basel and capital adequacy experience;
Product controllers across all asset classes, especially commodities and emerging markets;
Internal audit, risk and internal controls candidates due to the focus on risk management across the board;
Finance business partnering roles in the commercial sector, as employers look for candidates who can add strategic and commercial value.
Wealth management and private banking professionals;
Senior banking professionals with strong regulatory and risk management experience, in particular credit risk, portfolio risk, compliance and economic capital;
Experienced corporate actions and trade support professionals, who will support the growth of global market trading businesses;
People with strong networks and proven origination and execution experience for structured trade finance, export finance and project finance roles.
Candidates for senior positions, especially those with local experience from a contractor’s perspective. Civil works are driving demand, particularly the underground rail network with the first section of the Downtown Line (DTL) due to be completed by 2013.
Programme/Project managers through to developers, particularly those with Temenos T24 and Avaloq product knowledge and experience;
Architects with experience in Tibco middleware.
Vendor-led technology experience such as Misys Summit (Treasury), Murex and Wall Street (back office) is highly regarded;
Project managers, business analysts and .Net/Java developers with specific business knowledge of market risk and credit risk.
Human Resources (HR)
HR business partners, talent managers and learning and development (L&D) professionals;
Regional HR roles, due to more organisations setting up their regional hubs in Singapore;
Contract/temporary roles, as employers wait for their headcount approvals.
Technical infrastructure, project management and ERP candidates for the banking, telco and industrial sectors;
Network engineers and cloud computing consultants, as more permanent roles become available.
Insurance and reinsurance professionals, as the industry’s growth continues to accelerate in 2011, benefiting from sound economic recovery and further improvements in financial markets.
Personal assistants with five or more years experience, particularly in the banking and finance industry;
Project administrators with specific package experience such as MS Project, Visio and SAP.
Oil & Gas
Project controls, procurement and contract, ROV and installation personnel;
Subsea control personnel, who continue to be in great demand due to a worldwide shortage of their skills.
Health economics, market access and pricing and reimbursement roles;
Quality assurance and compliance professionals, needed to address quality issues within clinical trials and manufacturing processes.
Project managers and facilities managers, in particular those with more than six to eight years’ local experience delivering commercial interior or data centre projects.
Sales & Marketing
Sales and business development professionals who can provide ideas to gain market share;
Candidates with critical marketing skills such as SEM, SEO, PPC, viral, web analytics, EDM and social media.
Supply chain professionals, due to growth in the aerospace, petrochemical, pharmaceutical and tourism industries. Executive roles are likely as companies gear up supply chain capability to support service delivery.
For details on these hiring trends, visit www.hays.com.sg/report