“It’s Not all Doom and Gloom”
Singapore has made its intention clear to welcome rainmakers from across the world to help it stay competitive and relevant on the global map. However, it's not just Singapore- many other countries across the region have updated their visa policies to attract better quality and more diverse talent.
Top talent is a key priority for markets to remain competitive and relevant in today's globalised environment. This allows industries to remain competitive and at the forefront of cutting-edge innovation and development, where businesses constantly look for individuals with skills and experience to help them succeed.
Technology- A function or an industry?
While there's a lot of news on the high-profile layoffs in the tech industry, when you look deeper, the proportion of tech talents being impacted are not as huge. (Not disregarding those impacted, our thoughts go out to them.) But with tech being a function to many other industries, demand for this talent continues.
Many are asking, "Has tech hiring slowed down?", "Are candidates having more reasonable expectations?".
Not yet, is the short answer, from what we see in Singapore. Those with the right skillsets still get soaked up in the market quickly, and candidates still have an abundance of opportunities.
Do macro factors impact hiring plans? But also because of that, many who have teams heavily based in other locations are looking to build a stronger base elsewhere to diversify their risk. Singapore remains as one of the top locations for great tech.