MORE businesses in Singapore are employing accountancy and finance staff in contract and temporary assignments in order to fill a short-term staffing need or assist with special projects, says recruiting expert Hays.
According to Hays, the demand for contract and temporary candidates has become more prevalent in Singapore’s accountancy and finance jobs market over recent months as they ensure workloads are still completed without the commitment of a permanent hire.
Not only are employers increasingly looking to hire this way, more accountancy and finance candidates are also gaining exposure to contracting opportunities and, in turn, are warming to the benefits of the flexibility they offer.
In commerce, Hays is seeing more contracting roles for financial analysts arise within the fast-moving consumer goods (FMCG) industry as they require more strategic management reporting in order to reduce costs and increase efficiencies.
In addition, more all-round accountants with SAP ERP system knowledge are being sought for contract roles. It is becoming more embedded as the Enterprise Resource Planning (ERP) system of choice and responsibilities of the role duly take on a more comprehensive flavour across both financial and management accounting.
The third area of demand for contract roles is for experienced financial planning and analysis professionals. These individuals are always high on any prospective employers’ list as they have a direct impact on the development and direction of a business.
But contract jobs are not the only jobs on offer. Employers are also looking for permanent hires in certain areas.
Within professional practice, the focus on recruiting permanent regulatory, risk and compliance experts is unlikely to slow in the coming months as all the top-tier firms are investing heavily in the development of their financial services consulting capabilities.
And internal auditors remain in high demand in financial services. Candidates who have conducted audits on leading financial institutions, or have spent some time in-house, are highly sought after and can command higher-than-average salaries.
Hays says a number of boutique consultancy firms have entered the market recently, and are competing effectively with the top-tier firms. Some of these firms are winning lucrative contracts over more established businesses. This is a competitive and growing area of the market and provides good opportunities for candidates with the required skills and exposure.
Article by Chris Mead, regional director of Hays in Singapore and Malaysia. Hays is a leading global specialist recruiting group focusing on qualified, professional and skilled people. For more insights on staffing demand, see the Hays Quarterly Report on www.hays.com.sg