Impressive e-recruitment sentiment for finance professionals displayed by Singapore and the Philippines
The Banking and Finance industry in Southeast Asia received a fresh lease of life as online hiring and demand for finance talent soared in both Singapore and the Philippines in July.
These findings are the result of the latest Monster Employment Index (MEI), a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked by Monster.com. It comprises data of overall hiring activity in each country, as well as specific data in the advertising and marketing sector.
Malaysia reported a steep year-on-year decline of 16% between July 2017 and July 2018, a negligible improvement from June’s figure of 20% negative growth. In contrast, both Singapore and Philippines impressed with double digit year-on-year growth in online demand for BFSI professionals, clocking in 20% and 19% for the month of July, respectively. Despite this massive positive figure, the Philippines stagnated as both June and July reported identical year-on-year growth. Singapore on the other hand was up by 8% in July, as compared to June 12% annual growth.
The Philippines outdid its Southeast Asian neighbours in expansion of Finance and Accounts roles, being the only country to consistently clock double digit growth. July saw the Philippines report 28% year-on-year growth. Singapore improved leaps and bounds in July, recording 7% annual growth in July. This is a 10% improvement from the June figure of negative 3%.
“Currently, the banking and finance industry in Southeast Asia is experiencing several exciting developments. Massive strides are being made in the areas of fintech, sustainable investment and the Internet of Things, which fuels the need for capable finance talents. Artificial intelligence has become integral to the operations of many banks, and there is a strong demand for talent with the right skill-set to meet this need,” said Abhijeet Mukherjee, CEO at Monster.com – APAC and Middle East. “However, not all countries will simultaneously experience this surge in demand and supply. This is not much cause for concern, as opportunities will arise once other regions are able to keep up with new changes.”
The Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity conducted by Monster India. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide.