SINGAPORE: More than 1,500 companies in the professional services sector have offered about 9,000 opportunities since April this year, with 80 per cent of which are for professionals, managers, executives and technicians (PMETs) roles, said the Ministry of Manpower (MOM) on Thursday (Oct 1).
More than 1,400 jobseekers have been placed in these opportunities which include jobs, company-hosted traineeships/attachments and training courses, said MOM in its jobs situation report.
Two in three of the opportunities – about 5,870 – offered are jobs, which would be supported under the Jobs Growth Incentive (JGI) if the eligibility criteria are met.
(Source: MOM)
Announced in August, the JGI will provide “substantial salary support” to companies that continue to grow and need manpower, allowing them to bring forward hiring plans and grow their local workforce over the next six months until Feb next year, said the report.
MOM noted that about nine in 10 people firms in the sector employ come under seven subsectors. These subsections include consultancy, advertising and marketing as well as accountancy among others. And as of June this year, the sector had employed nearly 256,000 workers.
READ: Firms must maintain workforce strength to get Jobs Growth Incentive wage subsidy for new hires
The report also noted how the COVID-19 pandemic has impacted professional services firms “unevenly”.
This has been seen in how activity levels for architecture and engineering subsector fell as a result of construction works being brought to a halt during the circuit breaker, it said.
Firms in process construction and maintenance have reduced operations to about 60 to 70 per cent and are “gradually recovering”, said MOM.
In addition, 70 per cent of law firms reported a decrease in work.
(Source: MOM)
NEW OPPORTUNITIES
However, MOM noted that the accountancy subsector was less affected as audit, accounting and taxation services are still required to meet statutory requirements.
In addition, the report noted how major consulting firms have seen growing demand for technology and cybersecurity expertise, even as conventional work has dipped.
“Clients have also turned to HR consulting firms for advice to set up effective remote working systems as well as to manage company restructuring,” said MOM.
As the subsector pivots towards new growth areas, jobseekers should be prepared to hone their skills in emerging technologies such as Cloud technology, cybersecurity and artificial intelligence.”
READ: About 6,700 opportunities offered in food sector since April amid COVID-19 pandemic: MOM
Non-specialised roles such as management and business consultants typically require less than five years of work experience, and offer salaries ranging from S$3,500 to S$8,500, the report noted. Candidates with specialised skills may command higher salaries.
The demand for advertising and marketing roles such as content strategists also remains “high” as companies seek to stand out among the growing number of competitors in the digital sphere, said the report.
Design services have also “gained prominence” as businesses sought to enhance their online presence and digital touchpoints, added MOM.
Thursday’s jobs situation report is the seventh of a series of weekly updates on the local labour by the MOM.
It has been doing so since mid-August, covering various industries such as the local start-up scene, biomedical sciences and tourism, as part of providing job seekers with “a comprehensive look” of work and training opportunities.
