Getting ahead of Singapore's booming software engineering market

By Yvonne Loh, Manager and Mon Fei Chow, Senior Consultant, Hays Singapore

Thinking of expanding your tech team? Dive into key market trends to better strategise and plan for your next tech hire amidst a tech talent crunch.

While Covid-19 has been disruptive for many industries, it surfaced numerous opportunities for technology companies in Singapore.

The necessity of contact tracing and remote working accelerated the adoption and normalisation of technology that enabled both, and as a result, triggered significant digital transformation and growth in specialist technology areas like cloud computing, data analytics, and cyber security.

In particular, the software engineering market is seeing growing volumes of front-end, back-end, full-stack, and mobile developer jobs that are getting increasingly challenging to fill. If you’re thinking of hiring a developer for your tech team, here are four market trends you need to know:

1. More jobs, but fewer qualified candidates

Now that most of the market is shifting out of recovery and into growth mode, hiring is in full force for software engineers this year. The bulk of the jobs are coming from emerging fintech companies as well as American and Chinese tech companies, many of which have been setting up their operations in Singapore in recent years. Most of these jobs are for back-end, full-stack, and mobile developers.

Singapore’s technology talent pool to the limit. Talent shortage is typical of the technology market in Singapore, and with the rising demand, competition for software engineers is fast climbing to new heights. Consequently, employers are reassessing their talent attraction strategies to ensure they are well-positioned to hire the best candidates in the market for their tech teams.

2. When it comes to skills, focus on versatility and well-roundedness

As much of the demand is concentrated on mid-senior developers and beyond, many companies are finding it increasingly challenging to get candidates who are skilled and experienced.

Technical skills, such as proficiency in commonly used programming languages are definitely a key thing to assess for, although the specific assessment will depend on the type of developer you need on your team. More critical for employers is the proven ability to communicate with, and influence or manage stakeholders from both technical and non-technical business teams.

Given the challenge in hiring skilled and experienced candidates, some organisations are dedicated plans and programmes to train and develop their skills while on the job.

3. Focus on flexibility and employee wellness

Since the pandemic, employee wellness has been at the top of every employer’s mind, and for good reason – it’s one of the biggest factors motivating employees to stay at their jobs. After all, it’s no secret that the way we work has changed immensely since 2020, and with it, so have people’s priorities. High on that list? Work flexibility. Candidates we talk to are increasingly vocal about their preference on how they work and where they work.

In response to this, tech companies have been leading the charge in providing alternative work patterns including hybrid or remote working in a bid to improve work-life balance at their organisations. Some even go the extra mile to provide work from home and food delivery allowance as part of their benefits package!

4. Enhance brand reputation with diversity and inclusion strategies

A diverse workforce brings people of different experiences and backgrounds together, creating a high-performance and innovative environment. With the recognition of the economic advantages of a diverse and inclusive staff roster growing, technology companies in Singapore have stepped up efforts to increase the diversity of their teams. After screening for merit, employers are striving towards building more gender balanced teams as much as possible.

However, the work doesn’t stop there. Providing mentoring for female talent and leadership, offering inclusivity training, and creating a supportive culture are some of the ways company leaders can strengthen diversity and inclusion. Finally, but no less important, is to make sure there are tactics in place to measure progress and course correct in the event of setbacks or challenges.

Want to discuss your tech recruitment plans? Email us at yvonne.loh@hays.com.sg or monfei. chow@hays.com.sg

For an in-depth analysis of the market, compensation information, and talent attraction and retention advice, download the Inside Story of Technology: Key Developments in Software Engineering

ABOUT THE COMPANY

Hays Singapore is one of Singapore's leading recruitment companies in recruiting qualified, professional and skilled people across a wide range of industries and professions. Hays has been in Singapore for over a decade and boasts a track record of success and growth. We operate across the private and public sector, dealing in permanent, temporary and contracting positions in more than 15 different specialisms, including Accountancy & Finance, Banking & Financial Services, Digital Technology, Engineering, Finance Technology, Human Resources, Information Technology, Legal Life Sciences, Marketing & Digital, Office Professionals, Procurement, Supply Chain and Sales. Hays Singapore was named the “Best Small Workplace” in Singapore in 2019 and 2018, and was ranked fourth “Best Multinational Workplace” in Asia 2020 by Great Place to Work.