Randstad Singapore today released the 2022 Market Outlook & Salary Snapshot Report that takes a detailed look at the city’s economic climate and recruitment landscape in 2022.
The annual report aims to provide companies and employers with local business, labour market insights, and salary trends to guide their long-term hiring strategy.
more jobs and hiring expected, but uneven across industries
With a steady labour market recovery, it is expected that the job market in Singapore will continue to have a positive outlook in 2022 with manpower demand across growth sectors.
Jaya Dass, Managing Director at Randstad - Singapore & Malaysia said, “Sectors such as information & communications technology, banking & financial services, professional services as well as life sciences have fully recovered and are thriving. There is also a corresponding number of new job opportunities in these sectors as companies leveraged the digital economy to scale their operations and expand their presence, offer more products and services, or both.”
“For the first time in history, workers found comfort in work. Some people have also finally discovered a way to reconcile their careers and personal life. They are no longer stressed about commuting or feel guilty about not spending enough time with their families. Employees who work from home now also have more opportunities to try out new digital solutions and technology, which can help them be more creative, productive and employable,” Dass added.
candidates’ expectations on salary, bonus and employment benefits.
As Singapore is likely to fully recover its economic growth in 2022, we can expect to see more candidates being active in the employment market.
But aside from the heftier paychecks, candidates are also looking for other employee benefits beyond the basic salary. Candidates now also expect additional benefits such as; comprehensive health insurance, mental health benefits and flexible working hours or hybrid work setups, and more freedom to choose where they work from.
Organisations must realise that these key factors will affect a candidate’s decision to accept or reject an employment offer. Companies should try to manage their candidates' salary expectations to be able to attract the best candidate.
what salary do you think you deserve?
Determine the salary you deserve with the Randstad Salary Calculator to help you figure out how much you should be getting paid. The Randstad Singapore’s salary data featured in the 2022 Market Outlook & Salary Snapshot report is compiled using data analytics and real-time data inputs from employers, candidates as well as public domain websites.
The Randstad Salary Calculator is a new product that is unique in helping employers and candidates compare salaries in Singapore. This remarkable tool will guide both the candidates and employers in salary negotiations and benchmarking exercises based on their remit, level of responsibilities, skills maturity and years of relevant experience.
key highlights of the 2022 job market in Singapore
The 2022 Market Outlook and Salary Snapshot report looks at talent analysis and new post-pandemic salary benchmarks in the following high-growth industries:
download the 2022 Singapore's job market outlook and salary snapshot report.
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