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Market insights: Empowering your talent strategy.

Throughout 2024, Singapore’s talent market experienced a challenging period, with lower job volumes and a general reluctance among candidates to make career moves. While these dynamics remain, there is growing optimism that market conditions will improve in 2025.

 

of hiring managers plan to recruit over the next 6 months.

 

of professionals in Singapore plan on actively looking for a new job in the next 6 months.

 

of employers have lost out on hiring new talent in the last 6 months as they can’t compete on salary and benefits.

Regardless of market conditions, whether strong, uncertain, or influenced by political and regulatory changes- talent ultimately drives success. Many organisations in Singapore have thrived even in challenging environments, and time and again, it is their people who make the difference.

- Andrew EvansChief Operating Officer, Morgan McKinley, Asia Pacific

This is your opportunity to Go Beyond all expectations.

How can you be successful in the evolving talent landscape?

The top 5 hiring challenges companies will face in 2025.

 

of organisations in Singapore found hiring ‘Very’ or ‘Quite’ competitive in 2024. The main barriers for recruitment in 2025 are…

  • Lack of skilled candidates available
  • Pay and benefits not competitive enough
  • No budget to hire
  • Volatile market
  • Length of hiring process

What do people want? Key benefits to offer…

 

Employees in Singapore are not very satisfied with the benefits they receive, with 63% being ‘neutral’, ‘dissatisfied’, or ‘highly dissatisfied’ with their packages.

Offering strong benefits, both financial and non-financial, increases your chance of attracting and retaining top talent.

    Top 5 most desired benefits:

  • Bonus
  • Work from home
  • Flexible working hours: Flexi-start, flexi-finish
  • Health and wellbeing benefits and support
  • Health insurance

Flexibility is still high on the agenda.

 

Flexibility around working patterns remains a prominent request, yet 62% of organisations are asking staff to be in the office more regularly to improve employee collaboration.

15%

1-2 days per week

39%

3-4 days per week

35%

5 days per week

11%

Fully remote

Up, down or flat? The state of salaries.

The use of AI is undoubtedly the big play in the industry and it is incredible to see how AI can identify great candidates or a certain skill when a trained human might not see it. The next 12 months will see more fascinating developments.

60%

of organisations kept their salary bandings level over the second half of 2024.

56%

of employers plan to increase salary offers in 2025 for certain, hard-to-fill roles.

50%

of professionals are optimistic that they will receive an increase in 2025.

2025 Singapore salary guide.

Explore salaries to find out how much you should be paying your employees or how much you could be earning this year.

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Download your Salary Guide for 2025.

Salary data, insights and advice to guide your talent strategies. Benchmark what you are paying your teams against the industry averages for roles in your location.

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