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SINGAPORE: More than 1,500 companies in the professional services sector have offered around 9,000 opportunities since April this year, of which 80 percent are for professional, managerial, executive and technical (PMET) roles, said the Ministry of Hand de Obra (MOM) on Thursday (October 1).
More than 1,400 job seekers have been placed in these opportunities which include jobs, company-organized internships / adjuncts and training courses, MOM said in its employment status report.
Two out of three of the opportunities, about 5,870, offered are jobs, which would be supported by the Job 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 labor, allowing them to submit hiring plans and grow their local workforce over the next six months through February next year, according to the report. .
MOM pointed out that around nine out of 10 people employed by companies in the sector belong to seven subsectors. These subsections include consulting, advertising and marketing, as well as accounting, among others. And as of June this year, the sector had employed almost 256,000 workers.
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The report also noted how the COVID-19 pandemic has affected professional services companies “unevenly.”
This has been seen in how activity levels for the architecture and engineering subsector fell as a result of the stoppage of construction works during the circuit breaker, he said.
Construction and process maintenance companies have reduced their operations to between 60 and 70 percent and are “gradually recovering,” MOM said.
Additionally, 70 percent of law firms reported a decrease in work.
(Source: MOM)
NEW OPPORTUNITIES
However, the MOM noted that the accounting subsector was less affected as auditing, accounting and tax services still have to comply with legal requirements.
Additionally, the report pointed out how leading consulting firms have seen a growing demand for cybersecurity technology and expertise, even as conventional work has fallen.
“Clients have also turned to human resource consulting firms for advice on setting up effective remote work systems, as well as managing company restructuring,” MOM said.
As the subsector shifts into new growth areas, job seekers must be prepared to hone their skills in emerging technologies such as cloud technology, cybersecurity and artificial intelligence. “
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Non-specialized functions, such as management and business consultants, generally 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 specialized skills can earn higher salaries.
Demand for advertising and marketing functions, such as content strategists, also remains “high,” as companies seek to stand out from the growing number of competitors in the digital sphere, according to the report.
Design services have also “gained prominence” as companies sought to enhance their online presence and digital touchpoints, MOM added.
Thursday’s labor situation report is the seventh in a series of weekly updates on the local workforce by the MOM.
He has been doing this since mid-August, covering various industries, such as the local startup scene, biomedical sciences, and tourism, as part of providing job seekers with a “holistic view” of job and training opportunities.
