Why are tech professionals attracted to jobs in Singapore?
SINGAPORE’S local tech graduates have previously reported a high rate of full-time employment last year at 91.7 percent, signifying a great demand for the talent pool.
This comes as no surprise as there is an exciting wave of digital transformation taking over Southeast Asia.
To climb up the digital maturity curve and achieve a successful transformation, and to optimize and leverage new technology and drive innovation efforts, the right talent is needed.
Singapore is notably leading the race as experts see an accelerating trend of tech talents migrating to the country, particularly from neighboring countries.
Nevertheless, Singapore’s attractiveness is not a natural phenomenon. Government bodies and enterprises have been gearing up to invest in and attract the right talent pool.
Firstly, the steady growth of tech startups in the country fuels the interest of tech talents. An expert has cited that while the investment value is high in startups, effective government policies have allowed the industry to take off strongly.
Following the support of the government itself, business opportunities are on the rise, luring international tech giants to move to or expand their operations in the country. This is fueled by tax subsidies and the availability of resources.
The job openings and new roles that follow come with a lucrative salary and promising career advancement opportunities. In this challenging economy, good compensation is pivotal to bring in key talent that can add value to the operation.
Additionally, experts believe that technology professionals are willing to relocate themselves to Singapore because opportunities back at home are limited.
The government is also setting a great example in adapting to digital and economic challenges by continuously employing and investing in technology solutions. They believe that this will only fuel for progress and fuel the transformation efforts.
Further, Singapore is quickly emerging as a data center hub on a global scale, marking another feat in “deep technology” development. More tech experts are expected to arrive in the country to help businesses navigate their way around digital.
On the other hand, HR departments are expected to leverage recruitment processes and use relevant data to help make better hiring decisions.
The progress that Singapore has made does not mean neighboring countries cannot catch up. Indonesian startups are now offering better pay to their employees to ensure retention. Malaysia, on the other hand, has engaged in efforts to woo its talents back home.
In order to move forward effectively in a digital-first economy, other countries must adopt relevant policy changes to encourage startups establishments and empower local tech developers.
Other than that, increasing funding in tech investments, offering better salaries, and utilizing all available resources to a country’s advantage can go a long way.
The stakes are understandably high, but if government bodies don’t act bravely and wisely, they must be ready to fall behind.