information technology market outlook 2019.

11/06/2019 11:45

Technology will continue to change the way we work, live and play and everyone will need to embrace data and understand the real impact of technologies in our lives. This global demand for better, faster and safer tech has resulted in a talent crunch. Companies that want to secure the smartest tech talent will need to put in the same amount of resources and efforts to attract a candidate as they would a customer.

high growth potential in financial technology

In its hyper-growth stage, fintech firms are upscaling their commercial activities and venture capital funds are pouring in from around the world.

Fintech are able to offer remuneration packages and a more progressive culture that promotes learning and healthy competition - key factors that both finance and technology talent look for in an employer.

cyber security will see expansion

In a digital-savvy city like Singapore, people are exchanging and consuming digital information 24/7. Therefore, data protection is extremely important, not only for the government but also for companies.

More cybersecurity firms are expected to enter the local market and provide targeted and specialised services to address complex needs. Non-tech companies from manufacturing and supply chain will also be looking to hire new cybersecurity experts to tackle the increasing number of unsolicited and sophisticated cyber attacks.

lack of talent: the roadblock for technology companies

Companies are increasingly finding it difficult to hire candidates with the right skills. This is hardly surprising, considering that there is a global shortage of people with the necessary technical skills.

We expect Singapore-based companies to develop multi-pronged strategies to tackle challenges they face in talent recruitment and management. While hiring the right talent remain a major consideration, companies should also ensure that the skills of their current workforce meet future business needs.

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