Singapore’s Tech Crunch
Singapore is one of the world’s best seaports, a business hub in the region. However, Singapore has also set her eyes on transforming into one of the world’s top technology hubs. With tech giants such as Bytedance, Zoom, Grab expanding in the region, the tech recruitment scene should absolutely be bustling to the brim with young, bright talents…that is, until one realises that Singapore is currently facing a tech crunch.
What happened?
Singapore has taken measures to become a technology hub, such as various “Smart Nation” initiatives that aim to integrate advanced technology into daily living. Singapore’s world class quality infrastructure and top tier security has also attracted many major companies to the region, drawing flocks of talented people too. However, due to employment laws that aim to safeguard the livelihoods of locals, which restricts the number of foreign talents that could be hired per company, along with the declining local population, many tech companies find themselves lacking in people to hire for their respective technology related job roles. Despite competitiveness for engineering and computer sciences in local universities increasing, many roles are still left unfilled, and recruiters reported having to search for months before they could find someone to fill the roles.
On the other side of the issue, job seekers have reported seeing stringent low pay for entry-level positions with high requisites, and certain sectors have been reported to be overwhelmingly filled with a skewed ratio of foreigners to local citizens. However, even that is changing as covid-19 has impeded global travel, including the commuting of foreign talents to Singapore, and so companies are in need of more local employees than ever. Hence, it is suggested that companies’ recruitment efforts should reflect the strength of their need for tech talents, and offer attractive salaries and benefits, in order to attract local talents. For exclusive delves into the hidden gems of the local tech scene, companies can consider utilising our recruitment solutions, where we specialise in hiring tech talents.
