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3rd Quarter Newsletter 2018

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SALARY OVERVIEW

Hong Kong - China - Singapore - Thailand 

Hong Kong

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Hong Kong workers express the desire for digital skills

China

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A gulf between new grad salary expectations and reality

Singapore

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Job market outlook: a need for tech and soft skills  

Thailand

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Thailand could benefit from better migration policies

SINGAPORE

Job market outlook: a need for technical and soft skills

JobTech has recently released its Online Jobs Census, showing that Singapore is still at the onset of the next wave of digitalisation and there will be an increasing need for more technical talents in both the local and regional markets. Skills clusters that will help job seekers build a competitive edge include technical troubleshooting; software engineering; quality auditing; data analysis and hardware configuration.

 

Possessing a set of versatile and transferable soft skills can also prove to be advantageous. Soft skills such as effective communication; meticulousness; being both a team player and able to work independently; analytical in problem solving and good public presentation skills have also been top on the list of job requirements across all sectors.


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In the release, Philip Yeo, chairman of JobTech, said: “Singapore’s growth needs to be sustained by smart and talented labour. To build a smart nation, we must first nurture our local Singapore talent. Singaporeans who are willing to work hard and learn new skills can create a smarter and better future for themselves and their families.”

 

Meanwhile, the report showed a strong year-on-year (YoY) growth of 9.6% for Q4 2017 in the number of online jobs in Singapore. Key driving sectors of this strong recovery include banking and finance, healthcare, logistics, real estate and retail and wholesale. These leading recovery sectors collectively added close to 2,000 extra online jobs compared to Q4 2016.

 

Although the healthcare sector posted the most number of jobs for Q4 2017 across the recovery sectors, banking and finance showed the highest growth rate with approximately 700 more jobs YoY, equivalent to more than 35% YoY growth for the sector. Export-driven sectors such as logistics, and retail and wholesale also experienced an uplift in Q4 2017 due to the better global economic outlook for 2018. Outperforming the same period a year ago, these sectors saw an increase of 28% (logistics) and 11% (retail and wholesale) in online jobs.

 

In terms of the number of online jobs, the electronics and semiconductor sector continued to decline in Q4 2017, making the last quarter of 2017 the second consecutive quarter of negative growth for the sector (-2.5%).

 

For sectors marine and offshore, tourism and hospitality, and construction the YoY growth rates also showed a decline.

 

 

Source: The Business Times

 

Highly skilled workers' pay set to jump with talent crunch 

 

A new study shows that by 2030, some sectors can expect big wage premiums. Out of 20 major economies examined in the study, Singapore companies will face the second-highest average wage premium putting pressure on profits.

 

A highly skilled employee in the manufacturing, financial services, or TMT (technology, media and telecommunications) sector can expect to be paid an extra US$29,100 (S$39,500) a year by 2030 as talent shortages loom.

 

The term "wage premium" refers to the additional salary employers will need to pay on top of normal inflation increases in order to retain their staff.

Hong Kong tops the table with an average wage premium of US$40,500 a year while Australia takes third place with US$28,600. The average wage premium for skilled workers in the Asia-Pacific region could be more than US$14,700, the study showed.

 

"Although major economies can expect the highest wage premiums, smaller markets with limited workforces will feel the most pressure," it noted.

"By 2030, Singapore and Hong Kong - small economies with important financial centers - are forecast to face a wage premium equivalent to about 10 per cent of their respective 2017 gross domestic products (according to International Monetary Fund estimates)."

 

Furthermore, the report states that "the talent shortage will force companies to think differently about career progression. If you don't promote a highly skilled employee, a competitor probably will, so organisations may be pushed to award promotions earlier than they otherwise would."

 

The estimated talent deficit of 85.2 million workers across the 20 economies by 2030 is expected to add about US$2.5 trillion a year to payrolls. Therefore, companies need to identify the talent of tomorrow and help them achieve their potential.


Source: The Business Times

 

Welcome our new Manager Director of Singapore office 

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Catherine Cheah has recently joined Gemini Personnel Singapore in the role of Managing Director.

 

In the seven years prior to joining Gemini Personnel Singapore, she held a senior director position with 

a recruitment company in Singapore focusing on Executive Search in the Banking & Finance and Hospitality sectors.

 

Before building a career in Executive Search, Catherine spent over 17 years in the Tourism and Hospitality industry holding several Director/Senior Director positions in which she gained extensive international Sales and Business Development experience for both corporate and leisure clients.

Next to managerial responsibilities, she was involved in hotel openings both locally in Singapore and in the region, working from Bangkok and Ho Chi Minh City.

 

Catherine graduated with a Degree in Psychology and is effectively multilingual in English, Mandarin, Cantonese and Japanese.

 

Contact: catherinec@gemini.sg

 

 

 

Top 5 Candidates in Singapore

 

APAC Accounting Manager (e-commerce)

 

Nationality: Singaporean                   Availability: End of July 2018

Based: Singapore

Languages: English and Mandarin

Skills:

- A seasoned Finance Manager with 17 years’ accounting experience. Worked with top brands like Apple in South East Asia, Singapore Telecommunications and UBER.

- Qualified in FCCA, ACCA & CPA.

 

Head of Human Resources (Food and Beverage)

 

Nationality: Singaporean                  Availability: Three months' notice

Based: Singapore

Languages: English and Mandarin

Skills:

- More than 10 years’ HR experience and successfully implemented best practices to build the HR department from the ground up. 

- Accomplished in transforming disorganised HR departments to cost efficient strategic entities and valued partners in attaining top priority business goals.

- An excellent team leader and supervisor, skilled at motivating HR staff to perform at peak levels. 

- Great drive and hands on approach. 

- Soft skills and employee relations and grievances handling.

 

Senior Consultant (projects and programs in IT solutions sector)


Nationality: Singaporean                  Availability: August 2018

Based: Singapore

Languages: English, Malayalam, Mandarin and Tamil

Skills:

- 15 years’ experience with good exposure to the heterogeneous IT environments of various prestigious MNCs like Rolls-Royce, Computer Science Corp, Allianz, Archer Well Company and Computacenter UK. 

- Experienced leader with ability to build and lead high performance teams for peak performance and cost savings.

- Consistently improved program/project delivery, operational efficiency and led strategic initiatives from inception through implementation and then to production operations.

 

Brand Manager (Luxury Retail)


Nationality: Singaporean                   Availability: Two months' notice

Based: Singapore

Languages: English, Bahasa Indonesia, Bahasa Malay and Sindhi

Skills: 20 years’ experience in luxury retail sector across various portfolios in Singapore and Malaysia.

 

Advertising Director (Media Sales and Marketing)


Nationality: Singaporean                   Availability: Three months' notice

Based: Singapore

Languages: English and Mandarin

Skills: 18 years’ of experience in Media Sales and Marketing sector covering Singapore & Malaysia. Worked previously for Media Corp and Singapore Press Holdings.

 

For more information about these candidates, please contact 

catherinec@gemini.sg.

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