Our annual guide on salary and industry trends and predictions for the Singapore market over the coming year has now launched. The guide is full of valuable insights for hiring managers and job seekers.
The Covid-19 pandemic has certainly hit the reset button and brought significant unprecedented challenges to businesses all around the world. We have seen how the sudden changing work structures have thrust organisations to reinvent business operations and substantially transformed consumer habits quickly.
In a short span of months, businesses have accelerated digital transformation and technological innovation for resilience and growth. The embrace of digital and online payments is a game-changer, resulting in a spike in the strong growth of ecommerce, fintech and digital channels.
Amid global uncertainty, the Singapore banking and financial services sector remains resilient through the Covid-19 crisis, with significant growth and a record year for the Wealth Management business for global banks and pure-play private banks. The number of Family and Fund offices continues to grow in Singapore, attracted by sound financial regulations and economic stability. Investment Banking and Capital Markets have also delivered, with high trading volumes recorded across the year.
Aligned with expected global growth, the Singapore economy is expected to rebound in 2021, amid a moderate recovery. There is evident optimism of a recovery, with the vaccine announcement and the progressive re-opening of borders. The timely award of the digital full bank licenses to Grab-Singtel consortium and tech-giant Sea in quarter 4 have helped to boost confidence and fuel demand for more talent.