An increase in HR job advertisements in Singapore mirrors the rise of the profession’s importance to business, a new study reveals.
The latest Robert Walters Asia Job Index Q1 2015 revealed advertising volumes for HR positions across Asia rose by 18%, which it attributed to an increased demand for talent acquisition amid fierce competition in candidate markets.
“The rising importance of the HR function to include business partner and talent acquisition fuelled demand for these positions, with the advertising for HR roles increasing by 10% annually [in Singapore],” the report said.
Increase of advertising of HR roles in Asia for 2015
Hiring activity in Asia was said to have picked up in the first quarter of 2015, with the number of job advertisements up 22% from a year ago, according to the index.
That’s despite one recent study showing a sharp decline in the number of online job listings in Singapore since last year.
According to the Robert Walters Asia Job Index Q1 2015, the legal and compliance space saw the largest jump in job advertising volumes, up nearly a third from last year.
“Positions in anti-money laundering and financial crime are particularly in demand,” the report said.
In Asia as a whole, the IT sector posted the largest growth of 54% in job advertisement volumes, which the index attributed to the continued trend of establishing IT shared services functions and growth in online products.
In Singapore, IT job advertising rose by 18% from 2014 “as companies strengthened their presence on social media and digital platforms,” the report said.
Increasing operating costs drove the offshoring of manufacturing plants to other more cost-efficient countries in Asia, leading to an annual 14% drop in advertisements for products and logistics operations jobs, it said.
“Recruitment in Singapore is largely driven by competition in the candidate-short market, hence key challenges generally lie in attracting the best talent for the right positions,” Robert Walters Southeast Asia managing director Toby Fowlston said.
“Companies prioritise Singaporean professionals when hiring and that will only continue throughout the year.”
So what are some of the hottest HR roles in Singapore for 2015?
According to the an inaugural Human Resources Salary Guide released by ZW HR Consulting Singapore this month, HR business partners and regional compensation and benefits managers are pegged as being some of the top HR roles in demand in Singapore in 2015
These roles – along with talent acquisition managers, HRIS leaders, and professionals in talent management and organisation development – form the top five positions bringing the most “value added services” to business this year, the study said.