Contracting roles on the rise in Singapore
Contracting is rapidly expanding and certainly one of the most exciting markets in Singapore at the moment.
Largely driven by volumes, I have successfully built a fully fledged contracting business to specialise in the following verticals within both the financial services and commercial space:
- IT infrastructure, security, risk and audit
- IT applications, development and testing
- Corporate governance and operations, which constitutes of risk, compliance, tax, legal and audit.
- HR/ business support
Due to the increased volumes within contracting, we have also hired a contracts specialist to answer all queries from contractors, to handle all time sheets and to liaise with our own in-house payroll team.
The employment landscape has changed significantly over the last couple of years. Historically, contracting been nonexistent, however the last couple of years has seen a rapid rise in not only the number of clients wanting to hire contractors, but also the amount of candidates open to this due to many reasons such as maternity, long term sickness, projects and market volatility.
Where are the hires being made?
The bulk of our business is within the technology space and we are seeing more and more hires made here in large volumes at all levels from very junior roles to director level positions. DevOps, cloud, network, security and development are all roles with in demand.
Interestingly, we are seeing a spike in finance and corporate governance and again a number of junior roles as well as senior positions.
Our payroll contracting business alone has grown from 30 to 200 in just 15 months, and we anticipating even more rapid growth over the next few months and going in to 2018.
We are also hiring candidates on a fixed term basis in addition to that number – on average 3 per month.
What challenges we are facing?
There continues to be a huge focus to hire Singaporean talent, so that does create its own challenges especially in the technology space as more technical talent does tend to come from overseas.
On the other hand, we are starting to map out and find a number of Singaporeans or permanent residents (PR) who have the capability to undertake these roles.
Of course, the preference most of the time would be to secure a permanent role, however due to a somewhat volatile market, we are seeing more Singaporeans considering interim opportunities.
If you are available immediately or coming to the end of an assignment and wish to have a conversation about your next move, we would be delighted to speak with you.