The 2022 Job Vacancy Report in Singapore reveals essential information for HR executives. It highlights the industries with the highest demand for talent and emphasizes the significance of upskilling and reskilling. HR executives can use these insights to make informed decisions about recruitment, training, and diversity strategies to attract and retain top talent in a highly competitive job market.
Introduction
The most recent report discloses details about job opportunities in Singapore in 2022. MOM’s survey indicates that there were approximately 70,300 job openings in September 2022, showing an increase from the previous year. The services sector had the highest number of vacancies, followed by construction and manufacturing. The report also highlights the highest-vacancy professions and their median salaries. MOM suggests that job hunters should enhance their competencies to increase their chances of securing a job in these sectors.
Most Vacancies in Three Job Categories
The report indicates that the most in-demand job categories are professionals, managers, executives, and technicians (PMETs), followed by associate professionals and technicians, and clerical support workers. The PMETs have a median monthly salary of $4,900, while the median salary for associate professionals and technicians is $2,900 per month, and for clerical support workers, it is $2,000 per month.
MOM emphasised the significance of pairing job seekers with appropriate vacancies that correspond to their skills and experience while advocating for a varied and all-embracing workforce. The report acknowledged that hiring for specific job positions, notably in the healthcare and infocomm technology industries, remains challenging due to the high demand for workers.
Overall, the report provides valuable information for job seekers, employers, and policymakers to better understand the job market in Singapore and to develop strategies to address workforce challenges and opportunities.
Implications for HR Executives in Singapore
This report on job vacancies in Singapore for the year 2022 is relevant to HR executives in Singapore in several ways.
Firstly, it provides useful insights into the current state of the job market and the industries with the highest demand for talent. HR executives can use this information to tailor their recruitment strategies to target the most promising sectors and job categories.
Secondly, the report highlights the importance of upskilling and reskilling in increasing employability in the most sought-after job roles. HR executives can work with their employees to identify skills gaps and provide training and development opportunities to help their employees improve their skills and advance their careers.
Thirdly, the report emphasizes the need for diversity and inclusivity in the workforce. HR executives can use this information to review their existing diversity policies and practices and make improvements where necessary to attract a more diverse pool of talent.
Overall, the report provides valuable information for HR executives in Singapore to make informed decisions about their recruitment, training, and diversity strategies to attract and retain the best talent in a highly competitive job market.
Some Additional Insights
Services sector leads in job vacancies: The services sector had the highest number of job vacancies, with over half of all job openings in this sector. This includes sub-sectors such as wholesale and retail trade, food and beverage services, and professional services.
Healthcare and infocomm technology sectors face hiring challenges: Although these sectors had a high demand for workers, they also faced challenges in hiring due to skills shortages and talent gaps.
Median salaries differ by occupation: The report shows that the median salary for PMETs was higher than that of associate professionals and technicians, and clerical support workers. This highlights the importance of matching skills and experience to the right job roles.
Upskilling and reskilling are crucial: With the ongoing shifts in the job market, upskilling and reskilling are crucial for both job seekers and employers to stay competitive and meet changing job demands.
Inclusivity and diversity are priorities: The report highlights the importance of creating a more diverse and inclusive workforce. HR executives should prioritise this by developing policies and practices that promote diversity, equity, and inclusion.
Conclusion
The 2022 Job Vacancy Report serves as a valuable tool for HR leaders in Singapore to grasp the job market’s landscape and the sectors that require competent individuals. It emphasises the importance of skill development, workforce diversification, and inclusivity to attract and retain top talents amidst intense competition. By leveraging these insights, HR experts can customise recruitment strategies, prioritise career development, and strengthen diversity policies and protocols to secure the talent necessary for success.
