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Defying expectations, the global economic downturn has not dampened enthusiasm for ongoing recruitment and has even led to activity, as highlighted in the latest Hays Quarterly Report.
“While there’s no denying employers are monitoring the international financial crisis closely, and there certainly have been consequences locally, it is not accurate to assume it has impacted recruitment activity in every sector,” says Chris Mead, General Manager of Hays in Singapore. “In fact, uncertainty has created significant demand for candidates with experience in all forms of risk mitigation. New roles are being created and ongoing hiring activity is constant. Recruitment freezes are not the norm and the outlook for 2009 is positive.
“Temporary and contract employment is booming and new jobs are being created in areas such as wealth management. Candidates at the entry to mid level in particular are in demand.
“Ongoing local and foreign investment in Singapore’s property market will also push up demand into 2009.”
The positive message for today’s jobseekers is that good candidates will always be in demand. “We see no evidence that the market as a whole will stop hiring any time soon. In fact, strong demand still exists from those companies looking to up-skill their current staff.”
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Accountancy / Finance: |
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Tax managers, tax accountants, compliance, cost accountants and managers, and transfer pricing specialists, as well as candidates with regional exposure, Singapore IFRS knowledge and experience, SAP knowledge and expert users of Microsoft Excel, project accountants, financial managers, and controllers. |
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Banking : |
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In front and back office recruitment, senior private bankers, retail and priority bankers, derivates documentation (template drafting) and seasoned trade support operations professionals, assistant private bankers, and project managers with change management experience. In middle office recruitment, candidates with experience in market risk management, or strong portfolio credit risk management experience, and risk modelling professionals. |
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Construction / Property |
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Candidates with five or more years relevant industry experience, registered architects, senior level designers from commercial and hospitality backgrounds, as well as experienced project managers and project directors. |
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Finance Technology |
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There remains a strong focus across a number of larger institutions towards increasing their electronic trading capacity, which drives need for core Java and C# developers. |
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Legal |
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Experienced legal support staff, general derivatives, and entry to mid level candidates with general corporate, mergers & acquisitions and joint venture experience. |
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Information Technology |
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Entry to mid level candidates with significant experience in networking (with certifications) and applications development specific to government and end users, networking professionals, specifically candidates with experience in IP networks, security and with CISCO certification, mid to senior level technical architects and project managers, and candidates with relevant experience in design and implementation in the infrastructure sector. |
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Oil / Gas: |
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Candidates across the board for major project completion. |
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| Further details of these hotspots, in addition to recruitment activity, executive activity, candidate trends and salary movements by sector, are contained in the Hays Quarterly Report, available at www.hays.com.sg/forecast |
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